Welcome to everyone visiting with us in our offices here in New York City—members of our PB staff, our Board of Trustees, the Rev. Dr. Karen Georgia Thompson—and to those of you online.
First, in my new role at the Pension Boards as President and CEO, I want to give special mention to my predecessor, Brian Bodager, who passed away earlier this year, and whose deep thinking and commitment will continue to shape the foundation upon which we build and serve your needs. I hope you will have the opportunity to review our online 2024 annual report which has been dedicated to Brian’s service.
At the Pension Boards, we are dedicated to delivering a holistic array of services and solutions to ensure the financial, physical, spiritual, and mental wellbeing of the people we serve. Our mission is not an easy one, but it is our unwavering dedication and commitment that make it possible. Creating an environment where we enjoy doing this important work truly matters, and it is this spirit that drives us forward. The people we serve need a strong foundation from which to answer their call, and we are proud to provide that support.
The Pension Boards interviews the Rev. Dr. Karen Georgia A. Thompson, the General Minister and President and Chief Executive Officer of the United Church of Christ, on the partnership of the financial ministries of the United Church of Christ, the evolving relationship with the Pension Boards and that of the former President and CEO Brian R. Bodager, as well as her 10-year vision for the church.
As we move through 2025, the financial landscape has changed markedly. Initially, there were high hopes for economic growth driven by tax cuts and deregulation. However, the optimism started to fade from late February given the actions the Trump Administration took since January 20, 2025, and the rhetoric on tariffs.
Nonetheless, the market largely underestimated the extent of the tariffs until the announcement on April 2, which President Trump has called “Liberation Day”. A steep sell-off occurred in the equity markets afterwards. The tariffs, particularly with such magnitude and broad base, have sparked fears of a global trade war, economic recession and even stagflation.
The Pension Boards announced today that David A. Klassen has been appointed as President and Chief Executive Officer of the Pension Boards-United Church of Christ, Inc., effective March 31, 2025, following a comprehensive national executive search.
Since 2011, Klassen has served as Chief Investment Officer of the Pension Boards and United Church Funds, bringing a strong background in investment and finance, including positions as V.P. and Portfolio Manager at Morgan Stanley Dean Witter and Managing Director and Head of Equities at JPMorgan Chase. In a productive decade away from Wall Street, Klassen graduated from divinity school, earned 4 units of Clinical Pastoral Education (CPE) and was Partner of Springboard Leadership LLC, working with top leaders and organizations to build diverse leadership capacity in the finance, not-for-profit, and government sectors.