Top PCUSA Pensions Directors to Retire in 2014

(Photo Credit: Pensions.org Screenshot)The website of the Presbyterian Church (U.S.A.)’s Board of Pensions is seen on July 27, 2012.

Two high ranking and longtime members of the Presbyterian Church (U.S.A.)'s pensions board will retire within the next two years, according to a report.

President and Chief Executive Officer Robert W. Maggs Jr. will retire at the conclusion of the denomination's 2014 General Assembly in Detroit and Executive Vice-President and Chief Operating Officer Francis E. 'Frank' Maloney will retire at the end of 2014, the Presbyterian News Service reported.

Maggs has been a board member for 13 years, while Maloney has been a member for 38.

Board Chair Thomas Paisley named fellow board member John Hamm to chair the search committee and the rest of the committee will be in place by the board's next meeting in October.

Paisley said the goal is to present a candidate for approval by the board in 2014, with confirmation by the Assembly later in the year.

The board has $7.1 billion in assets, Senior Vice-president for Investments Judith Freyer told PNS.

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