TO: All Participating School Boards, Participants and Retirees
FROM: Howard Van Mersbergen, Executive Secretary-Treasurer
The purpose of this communication is to update you on a proposal CSI is working on to improve the Pension Plan by introducing indexing. Indexing would raise a retiree’s pension benefit at regular intervals and is a permanent increase to the pension benefit paid to a retiree.
In a CSI pension plan survey, employees, retirees and board members indicated they wanted indexing added to the Pension Plan.
CSI is committed to responding to that interest and the Trustees have been working to find a way to add indexing. This past winter we tested a proposed indexing plan in focus groups with board members, teachers, retirees and administrators across the country. We received some valuable feedback from these focus groups.
Indexing would be a valuable feature of the CSI Pension Plan because it:
- helps offset the impact of inflation, which continually raises the cost of living,
- supports our Christian values and commitment to care for others because it considers the needs of current employees who will retire in the future, and former employees who are already retired, and
- improves schools’ compensation plans and helps attract new teachers and retain the quality teachers we already have.
Employees, retirees and board members will receive more information in the spring about the proposed indexing plan. At that time, you will learn specific details about the proposal. An education program, including an opportunity to participate in regional meetings, will follow this fall. We hope you will read these communications carefully and consider the impact that indexing would have on you and our Christian school communities.