Hawkins declares 2010 as Year of Initiative
March 3, 2010
DALLAS — Speaking from a familiar New Testament passage, GuideStone Financial Resources President O.S. Hawkins told trustees, “We are challenging our employees to make every effort this year to take initiative in finding unique ways to serve our participants.” Trustees also heard a report from Chief Operating Officer John R. Jones.
Trustees met in regular session March 1–2 in Dallas.
Drawing from Luke 10:33–34 which says, “…And when he saw him, he had compassion. So he went to him and bandaged his wounds, pouring on oil and wine; and he set him on his own animal, brought him to an inn, and took care of him.” Hawkins told trustees that “like the ‘good Samaritan,’ in order to be one who takes initiative, we must see the need, feel the need, touch the need and then meet the need.”
In revealing the theme that will direct GuideStone’s work for 2010, the Year of Initiative, Hawkins shared ways that various employees have demonstrated initiative in meeting the needs of participants.
Jones updated trustees on the program areas of GuideStone (investments, retirement, insurance, financial assistance and developmental initiatives).
“While the beginning of 2009 continued one of the most tumultuous financial markets in our nation’s history, by mid-March we began to see some improvements in the markets and some measure of stability,” Jones told trustees as he reviewed GuideStone’s investment funds’ performance for 2009. “In sharp contrast to 2008, all 20 GuideStone Funds (GS4 share class) posted positive returns for the year. Nineteen of the 20 Funds posted double-digit performance for the year, with the only exception being the Money Market Fund.
“For the one-year period ending Dec. 31, 2009, 10 of 13 funds in the GS2 share class exceeded their respective benchmark. The 13 funds include nine Select Funds and four Asset Allocation Funds. (Please keep in mind that past performance does not guarantee future results.)
“In addition, GuideStone Funds ranked 34th out of 213 mutual fund families in the most recent Fund Family Fiduciary Rankings prepared by fi360,” Jones said. This report ranks mutual fund families based upon the percentage of their individual funds that pass fi360’s due diligence screens. These screens include the fund's track record, assets, management tenure, style consistency, expense ratio, risk adjusted performance and performance relative to their peer group among other criteria.
“While contributions to retirement plans were lower due to employers’ budgetary restrictions, overall annual contributions to retirement plans exceeded withdrawals and benefit payments,” Jones said.
Turning to GuideStone’s medical plans, Jones highlighted that 42 new groups were added throughout the year representing more than 1,400 additional lives. Group enrollment overall was up 3.2% for the year. However, personal enrollment was down 3.6%, due largely to the uncertain economic conditions felt by many churches and smaller ministries as many had to downsize their staff or reduce benefits in order to remain viable.
In the financial assistance area, Jones reported good news concerning generous responses by individuals and churches that supported the financial assistance program, Mission:Dignity.
“Even with a very shaky economy, Southern Baptist churches and individuals continued to be faithful in supporting Mission:Dignity. More than 1,200 donors made their first gift to Mission:Dignity during 2009,” Jones said.
The Mission:Dignity program provides financial assistance to more than 2,000 retired ministers or their widows in crucial financial need.
Information concerning Mission:Dignity may be requested by calling GuideStone at 1-888-98-GUIDE (1-888-984-8433) or by visiting Mission:Dignity's website.
Jones also reported on GuideStone’s initiative to offer property and casualty insurance to churches and ministry organizations.
“This new program, launched in the fall of 2008, offers a competitive property and casualty program that provides risk management programs for churches and may provide the opportunity to reclaim dollars for ministry that have been lost to for-profit insurers,” Jones said.
Information about GuideStone’s Property and Casualty Program may be accessed online or by calling 1-888-98-GUIDE (1-888-984-8433).
Jones also reviewed the progress of several development initiatives for trustees. New services for participants included enhanced account statements which now assist participants in knowing how well they are preparing for retirement and how they can improve in their future.
“For those who want more detailed investment assistance, we now provide specific investment advice* through our new GPS: Guided Planning Services™,” Jones said. Participants may work individually through the online tool or make a telephonic appointment with a GuideStone investment adviser for personal assistance.
Also launched during the year was a new Inflation Protected Bond Fund and additional fixed annuity options which provide a greater range of choices for participants who are anticipating retirement.
Trustees accepted the recommendation of their general officers nominating committee and re-elected Timothy E. Head, South Carolina, as chairman and Harold D. Vick, Florida, as vice-chairman.
At the Monday evening dinner meeting, seven trustees were honored as they reached the end of their terms of service. Those receiving recognition were William R. Delk (Georgia), Barry N. Divine (Maryland/Delaware), M. Truman Fallaw (South Carolina), Kenneth R. Howe (Missouri), Gerald B. Jones (Arkansas), A Ray Sikes (Oklahoma) and Robert L. Sorrell (Tennessee).
*Financial advice provided by GuideStone Advisors, a controlled affiliate of GuideStone Financial Resources.
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