SBCV Set to Handle Annuities 

                                                                                                                                          Vol. IX, No. 10, Nov/Dec 1996

           The officers of the SBCV signed a contract with the Annuity Board of the Southern Baptist Convention on November 12th which goes into effect January 1, 1997. The contract authorizes the SBCV to pay retirement and survivor benefits for eligible pastors and staff affiliated with the SBCV. The benefits include life insurance up to $100,000, disability insurance of $400 per month, and matching retirement contributions up to $17.50 per month. The pastor of every contributing SBCV church will receive a letter which outlines requirements for eligible persons to transfer their accounts to the SBCV. Participants will not lose anything by authorizing the Annuity Board to move their retirement and benefits package to the SBCV. Contact the SBCV office at 757-363-0153 if you have questions. SBCV must receive a signed authorization form from each participant by December 15th in order for the transfer to become effective January 1, 1997.


           The SBCV will match the participant’s monthly contribution up to $17.50 for staff members of all churches which contribute 50% or more of their Cooperative Program dollars through the SBCV. Dually aligned churches contributing more than 50% through the BGAV should continue to participate in the Annuity Plan through the BGAV.