New York, NY – Today, July 6, 2020, His Eminence Archbishop Elpidophoros of America reiterated his support of the Archdiocese Benefits Committee (ABC) as they develop a strategy for providing retirement benefits to Clergymen and Lay Employees of the Greek Orthodox Archdiocese of America. The ABC is a separate entity led by members who are principally elected by the clergy for the purpose of managing existing benefit plans and adopting new ones.
His Eminence Archbishop Elpidophoros said in his remarks:
“The ABC has a difficult task ahead of them; the responsibility of finding a solution to the persistent issue of the Pension Plan. We are confident they will work diligently and swiftly because our clergy and their families deserve the utmost attention and gratitude. Thanks to the legacy of our past Treasurer Michael Psaros, and the ongoing work of Treasurer Elaine Allen, our Archdiocese has achieved the stability and transparency necessary to move forward, and now we must find a solution that works for everyone involved. We fully support the ABC in this urgent work, knowing that the hard decisions they face now will ultimately provide a pension benefit to our clergy and lay employees that is financially viable.”
The Archdiocese Benefits Committee, under chairman Fr. James Paris, already reported to the Archdiocese Council on its recommendation to explore a transition from the defined benefits plan to a defined contribution plan. The investigation and hard work that will take place over the next months in advance of the Clergy Laity Congress will lay the groundwork for finding an equitable approach to transitioning retirement benefits for all clergy and lay employees.