CHARLESTON, SC: Episcopal Church Holds Hostage Pensions of more than 80 Staff

from VirtueOnline

CHARLESTON, SC: Episcopal Church Holds Hostage Pensions of more than 80 Disassociated Staff Members

TEC refuses to allow them to move their retirement savings 

Episcopal Church Pension Fund ignores rollover requests as it plans a special workshop for clergy of remnant group

Diocesan News Release
June 3, 2013

The retirement savings of more than 80 non-clergy employees of the Diocese of South Carolina and its parishes are being held hostage by their former pension plan at the Episcopal Church (TEC).

The lay employees have been trying to arrange for the rollover of their retirement savings since February, when they first contacted the Church Pension Group, which provides retirement, health and other benefits to employees of The Episcopal Church, its parishes, dioceses and other institutions. The employees became eligible to rollover their funds into another qualified plan when their employer, the Diocese or the parishes that voted to disassociate from the denomination, officially ceased to be employed by any TEC organization or parish.

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