| 11/20/2008 |
 | Bob Hastedt,
Director of Education at the YMCA Retirement Fund, answers your questions.
|
How much interest will be credited to my account in 2009?
At the November 20, 2008 meeting of the Fund’s Board of Trustees, the Board carefully reviewed the Fund’s asset allocation, the investment outlook and the independent actuary’s advice. Management recommended, and the Board decided, to continue crediting 3% annualized interest to participants for the period January to June 2009, and no special dividends to retirees.
For more than 86 years, the YMCA Retirement Fund has stood for security, integrity and enduring value. We are long-term investors with a high quality portfolio. This past year has taken us through a financial crisis unlike any in recent history, and just as most people's investments have taken a significant hit, so have the Fund's assets that support your account balances.
Nevertheless, due to the unique structure of your Retirement Fund, participant account balances have not gone down, which is remarkable in this devastating investment environment. While it is uncertain how much longer we will have to weather this financial storm, we stand on our proud record of providing security, integrity and enduring value for YMCA people.
Our retirees can remain confident that monthly annuity payments will continue uninterrupted.
Need more information? Go to FAQs, where you'll find an up-to-date list of answers to more than 150 frequently asked questions about the Fund.
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