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  • ELCA Publisher's Board Terminates Defined Benefit Retirement Plan

    01/04/2010 7:44:16 PM PST · by lightman · 7 replies · 562+ views
    ELCA News Service ^ | 4 January AD 2010 | John Brooks
    ELCA Publisher's Board Terminates Defined Benefit Retirement Plan 10-001-JB CHICAGO (ELCA) -- Augsburg Fortress, the publishing ministry of the Evangelical Lutheran Church in America (ELCA), announced in a Dec. 31, 2009, letter to participants that it will terminate its defined benefit retirement plan effective March 5. The action, approved by the board of trustees of Augsburg Fortress Dec. 18, affects 500 plan participants. Not affected by the decision is the company's current retirement plan -- a defined contribution plan -- in which Augsburg Fortress' current employees can participate. That plan is a 403b plan "common for non-profit organizations," according to...