WCG/GCI Employee Pension Plan Being Discontinued
TRANSFORMED FROM TRUTH
The Banned by HWA website posted the following letter purportedly from GCI (Grace Communion International, essentially the group that originally ran the new Worldwide Church of God):
“As you know, Grace Communion International (formally Worldwide Church of God) adopted a Defined Benefit Pension Plan (“Pension Plan”) out of concern of its employees in 2004. At the time the Pension Plan was adopted, it was our sincere hope that the assets that were contributed to the Pension Plan, plus the earnings on those amounts, would allow the Pension Plan to be self-sustaining and pay benefits to our current and future retirees throughout their lifetimes. Unfortunately, as I am sure you are aware, the financial markets have substantially underperformed the reasonable expectations of investment professionals since the Pension Plan was established due primarily to what is now being called the “Great Recession.” Although we have managed the funds in a prudent manner and have earned a reasonable rate of return over the life of the Pension Plan, the projected growth of the Pension Plan’s assets will now likely not, over time, be sufficient to cover the continuing payments to current and future retirees. We are very concerned about this issue.
After careful deliberation, and out of concern for participants, their families and the Church, the Board of Directors has decided to terminate the Pension Plan with respect to exiting employee’s and vested terminees.
The old Worldwide Church of God (WCG) had actual Church of God beliefs. After J. Tkach Sr. was placed in charge (1986), he began a series of subtle doctrinal changes (the “new” WCG began under his administration). Over time it became obvious to many, and most who held to basic COG beliefs left and many organizations were founded.
Yet, there were various employees as well as members who were willing change their beliefs away from the more biblical COG ones and remain. After the death of his father, Joe Tkach Jr. was placed in charge. Then, he and his associates took even more steps away from biblical COG doctrines. And ultimately they changed the name of the group from the Worldwide Church of God to Grace Communion International (GCI).
Perhaps as a partial incentive to those who were loyal to him to support him, years ago J. Tkach (Jr.) told his employees that the assets from the sale of old WCG properties, such as the campus of the old Ambassador College, would be used to fund a new pension plan. Their assumptions apparently were a bit optimistic that way.
So it appears that many of those who betrayed their original beliefs to keep their jobs will not get the pensions they counted on.
GCI itself no longer holds on to hardly anything that would be considered somewhat unique scriptural Church of God doctrines, but instead is now basically a Protestant sect (the true Church of God is NOT Protestant).
Some articles of related interest may include:
The 18 Restored Truths: Do You Know What the First Changes the Tkach Administration Made? Some have said healing, others other subjects, but probably the first change had to do with eliminating being part of the Philadelphia era. This article documents what those changes were and compares the Tkach list of restored truths to Herbert W. Armstrong’s list of restored truths. It contains many quotes from Herbert W. Armstrong.
Born Again: A Question of Semantics? Many Protestants use the term born-again. Do they know where the concept came from or does it matter? Are you born or begotten upon proper baptism?
Hope of Salvation: How the Genuine Church of God differ from most Protestants How the real Church of God differs from mainstream/traditional Protestants, is perhaps the question I am asked most by those without a Church of God background.
The Similarities and Dissimilarities between Martin Luther and Herbert W. Armstrong This article clearly shows some of the doctrinal differences between in the two. At this time of doctrinal variety and a tendency by many to accept certain aspects of Protestantism, the article should help clarify why the genuine Church of God is NOT Protestant. Do you really know what the Protestant Reformer Martin Luther taught and should you follow his doctrinal example?
Sola Scriptura or Prima Luther? What Did Martin Luther Really Believe About the Bible? Though he is known for his public sola Scriptura teaching, did Martin Luther’s writings about the Bible suggest he felt that prima Luther was his ultimate authority? Statements from him changing and/or discounting 18 books of the Bible are included. Do you really want to know the truth?
John Calvin, Calvinism, TULIP, and What is Predestination? Who was John Calvin? Did he believe in sola Scriptura or did he hold to unbiblical doctrines? TULIP analyzed.
Who Was Herbert W. Armstrong? How is He Viewed Today? Includes quotes from the 1973 edition of The Autobiography of Herbert W. Armstrong and explains who he was and how he should be viewed today.
The History of Early Christianity Are you aware that what most people believe is not what truly happened to the true Christian church? Do you know where the early church was based? Do you know what were the doctrines of the early church? Is your faith really based upon the truth or compromise?
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