A split between to Episcopal church groups continues to cause friction as the pensions as a request to move the pensions of non-clergy employees has gone unfulfilled.
Here are details from a release:
CHARLESTON, SC, June 3, 2013 – The retirement savings of more than 80 non-clergy employees of the Diocese of South Carolina and its parishes are being held hostage by their former pension plan at the Episcopal Church (TEC).
The lay employees have been trying to arrange for the rollover of their retirement savings since February, when they first contacted the Church Pension Group, which provides retirement, health and other benefits to employees of The Episcopal Church, its parishes, dioceses and other institutions. The employees became eligible to rollover their funds into another qualified plan when their employer, the Diocese or the parishes that voted to disassociate from the denomination, officially ceased to be employed by any organization or parish affiliated with TEC.
In mid-March, the Diocese's pension administrator Nancy Armstrong began correspondence with TEC's Church Pension Group administrator to notify it that several Diocese employees would soon begin the rollover process. After numerous emails back and forth, Frederick Beaver, a senior vice president with the Church Pension Group, informed Armstrong that protecting TEC's pension plans is "paramount" and said he would contact her when he has "definitive legal responses."