In an effort to assist those who are most vulnerable to the annuity benefit reduction, BBT has appropriated non-Pension Plan assets from its operating reserves to provide special assistance — up to the amount of the benefit reduction. The reserves represent the income and investment accumulations of more than 20 years of service to the denomination. It is seed money to start new projects and gives the organization adequate cash flow. While there are not enough assets in this Fund to fix the Pension Plan, there are enough to help ease the initial pain of a lowered monthly payment for those who qualify. The Board will review and evaluate the grant program each year to see if and how it can be continued. Please click here to download the grant program application.

At its April 2011 meeting, the BBT Board voted to begin phasing out the grant program, with an end date of Sept. 30, 2014. The amount of the payments in 2011 will not change. But in 2012, the payout for the grant program cannot exceed 75 percent of what an annuitant's income was reduced by the lowering of the assumption rate to 5 percent. In 2013, the amount cannot exceed 50 percent, and in 2014 it cannot exceed 25 percent. The program will then end on Sept. 30, 2014.