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Orthodox Observer - May 20, 1997

Pension Benefits to Rise 5 Percent

Retirement benefits for all retirees participating in the Archdiocese Pension Program will increase by 5 percent, according to Benefits Committee Chairman Fr. Peter Karloutsos, who made the announcement following a meeting of the committee at the Archdiocese on May 13.

"Through its contributions from the Archdiocese, the parishes and individuals, the earnings from investments of the pension plan have substantially increased," Fr. Karloutsos said. "The investment committee, with the blessings of Archbishop Spyridon, has done a great job, and it shows the positive direction that the pension plan is heading under the Archdiocese Benefits Committee. It looks very positive for the future." The plan currently has about $35 million invested.

[ Orthodox Observer - Vol. 62, No. 1129 - May 20, 1997 - p. 3 ]