CHICAGO — The trustees of GuideStone Financial Resources of the Southern Baptist Convention (Annuity Board) met in regular session Aug. 2–3 in Chicago, Ill., to give a status report.
“Asset growth during the first half of the year has been significant,” said John R. Jones, chief operating officer of GuideStone.
Jones reported that as of June 30 assets under management by the company totaled $7.5 billion, compared to $6.6 billion at the same time last year.
He said the growth has come from an increase in participants’ contributions, which are up 11.2 percent overall, and market performance of the investment funds, noting many of the funds have outperformed their benchmarks.
Jones also reported on the status of the medical plans offered through GuideStone. While nationwide medical inflation continues at a double-digit rate, there has been a slight decrease in medical claims, he noted.
“The implementation of higher deductible options, wider utilization and networks, deeper network discounts and participants becoming more involved in wellness have helped to reduce the level of medical claims,” he said.
In other reports, the relief committee of the trustees added 55 recipients to the financial assistance roll during the first six months of 2004. They approved 10 two-year monthly grants and declined 43 requests because they did not meet the relief guidelines.
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