Petition 80649

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Retirement Security Program for General Agencies Changes Effective June 1, 2008 (80649-FA-NonDis)

Make the following changes to the Retirement Security Program for General Agencies (“RSP”) (including any needed revisions to RSP section numbering, formatting, pagination, or Table of Contents), effective June 1, 2008:
  
Delete “and” at the end of Section A4.3(a), substitute “;” for “.” at the end of Section A4.3(b)(ii), and insert the following new Section A4.3(c):
  
(c)    Notwithstanding Sections A1.6(e), A1.7, A3.4, and S1.4, the Administrator is authorized and directed at any time during 2008 to transfer to the General Agency Benefit Trust of The United Methodist Church any surplus assets in excess of 110% of the pension liabilities as determined by the Administrator in accordance with reasonable actuarial assumptions.