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Note: Right-click [ here ] and then click Save As... for a look at the Treasury's Resolutions from last August (in PDF)

Ministerial Retirement Funds
and the Proposed By-Laws Changes for General Council 2005


I. Retirement funds for ministers appear to be in danger (just like with Enron)
A. Look at page 23 of your white “Resolutions” booklet to “Resolution #14”
1. Division of the Treasury is being deleted from the bylaws
2. Moved to the Organizational Manual

B. Look at changes on pages 83 and 84 of your beige Vision For Transformation Bylaws booklet
1. Only EPs approve the Organizational Manual
a) Organizational Manual required General Presbytery approval under current bylaws

2. Result of proposed bylaws deletions: changes to the Treasury will be only scrutinized by the EPs and NOT the General Council
a) Too few eyes having control over way too much money!

C. Look at line 9 on page 21 of the Resolutions booklet (Resolution #13)
1. General Treasurer will no longer be the Executive Director of the Division of the Treasury (this function disappears under the proposed duties starting on line 22)
2. Who will?
3. RUMOR: General Superintendent will appoint the CEO of AG Financial as the Executive Director
4. Direct conflict of interest!
a) Very inappropriate to allow the person responsible for guarding our ministers’ retirement fund the responsibility to execute the budget of the Assemblies of God
b) Same as having the dog guard the hamburger!
c) This is not the A/G’s money! It is our ministers' retirement funds!




II. BOTTOM LINE:
A. A university mergers would cost about $100,000,000 according to our leadership (see the lower right corner of the [ final page ] of the Report to the EP from The Commission to Study General Council Schools January 18, 2005 at this web site)

B. From where will the A/G get this huge sum of money?
1. From your pensions?

III. RECOMMENDATIONS:
1) vote NO to Resolutions #13 and #14
2) vote NO to the proposed bylaws changes in your VFT booklet that give our senior leadership this much power!


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