As we head into the final stretch of 2020, you may still be able to lower your federal income tax for the year. You can do so by reducing your taxable income, which in turn lowers your taxes, or by making the most of deductions that may be available to you this year.
Also, this is a good time to review a few major provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted by the federal government in March 2020 as a response to COVID-19.
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Dear Friends,
Over the last two weeks, meeting virtually, both the Pension Boards Trustees and UCBMA Directors had opportunities to review our progress toward achieving strategic objectives during this atypical year. Our elected leadership expressed appreciation to staff for their efforts in keeping our organizational momentum going. Trustees and Directors also engaged in strategic planning for the coming year, to build upon the strong foundations already in place and become even more responsive to your needs as members and employers.
We have shared plans for the upcoming closing of the Target Annuitization Date (TAD) Fund 2020 at the end of this year. (Please see the article directly below for information.) I am pleased to announce that the Board approved the launch of two new TAD Funds effective January 1, 2021 – TAD 2045 and TAD 2050. These two new additions to the TAD Funds lineup are designed for members with a longer retirement time horizon and, like all TADs, automatically reallocate investments over the course of members’ accumulation years. Please click here for more information.
By Rev. Ryan Otto
In a letter to the United Church Board of Ministerial Assistance, the philanthropic arm of the Pension Boards, the Rev. Ryan Otto, Pastor First Congregational Church, Sioux Falls, SD, shares how the gift of the Next Generation Leadership Initiative has rooted and shaped his approach to life and ministry. Rev. Otto was a participant of NGLI*1, the inaugural cohort.
To the dreamers, visionaries, and leaders of the Next Generation Leadership Initiative of the Pension Boards: Thank you. Please receive my sincere gratitude for your diligent work in the inventive NGLI program, for the faith to take the risk on such a new endeavor, and for your investment in my ministry and in me as a person of faith.
I will attempt to name the gift of the ten-year NGLI program in one word: rootedness.
By Rev. Beth Abbott
The Rev. Beth Abbott, Pastor of First Congregational UCC in South Milwaukee, WI, shares how her life has been transformed during her almost-completed 10-year journey with the Next Generation Leadership Initiative (NGLI). Rev. Abbott is a participant in the inaugural cohort, NGLI*1. Read Rev. Abbot’s letter of gratitude below.
When I began Next Generation Leadership Initiative (NGLI), the idea of a ten-year commitment to anything seemed unusual and rather long. Starting in my 20s, I had only been doing three-to-four-year chunks of schooling (college, seminary) and just dating my now husband, Rich.
The Pension Boards is pleased to announce the addition of two new Target Annuitization Date (TAD) Funds effective January 2021: TAD Fund 2045 and TAD Fund 2050. These two new TAD Funds are designed for members who expect to annuitize their accounts (convert their monies into lifetime monthly income payments) close to the year indicated in the Fund’s name.
TAD Funds are a worry-free investment choice. The Pension Boards’ investment team automatically invests the funds more for growth when you are years away from retirement, and more conservatively as you approach your anticipated annuitization date. TAD Funds are also ideal for those who do not want to constantly reallocate their investments during market fluctuations.