Posted: 10/17/03
Annuity Board asks for name change
NASHVILLE, Tenn. (BP)–The Annuity Board will change its name and begin serving evangelical organizations beyond the Southern Baptist Convention if SBC messengers approve the changes next summer.
Initial approval was given by the SBC Executive Committee.
The Dallas-based SBC agency proposes to change its name to GuideStone Financial Resources of the Southern Baptist Convention. The name change recommendation would require approval by messengers at two consecutive annual meetings. Next summer in Indianapolis, the convention will be asked to authorize the board to do business as GuideStone Financial Resources for one year, pending a second affirmative vote in Nashville in 2005.
“The Annuity Board's name has served us well, but it has been decades since our only retirement option was an annuity,” said George Tous van Nijkerk, chairman of the Annuity Board trustees. “The board now offers a myriad of distribution options to participants as they reach retirement, as well as many other products and services such as life and medical plans and personal investment programs including traditional and Roth IRAs.
“Our current name is no longer reflective of our organization, and a new name gives us the opportunity to communicate our image as an up-to-date, full-service provider of financial and insurance products and services,” Tous van Nijkerk said.
An amendment to the ministry assignment of the Annuity Board would include other evangelical organizations in addition to the churches and denominational entities it already serves. Relief would still be exclusive to Southern Baptist ministers and denominational employees, but retirement plan programs, life and health coverage, personal investment programs and institutional investment services would be open to others who qualify.
“Due to competitive pressures and limited growth potential, the Annuity Board must seek ways to grow our asset base so we can continue to be an advocate for our Southern Baptist pastors at the crossroads,” Annuity Board President O.S. Hawkins said.
Hawkins said the Annuity Board will use criteria similar to what the International Mission Board and LifeWay Christian Resources use in determining which evangelical organizations will be eligible for partnership.
The guidelines also are written to ensure that the other evangelical organizations never become the majority of those served by the Annuity Board, Hawkins emphasized.
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