ELGIN, ILLINOIS, July 3, 2025 – In 2024, Eder Financial transferred its annuitants to Securian Financial for administration and ceased writing new annuities. During the final reconciliation of accounts, a remaining balance of funds was identified, an outcome created by robust stock market performance and elevated interest rates. As a result, Eder Financial will issue payments to eligible annuitants that reflect their portion of the funds.
It took 15 years for Eder Financial to bring the Retirement Benefits Fund (from which Plan annuities were paid) back to fully funded status. Attaining fully funded status was the first completed step towards safeguarding annuitants within a larger, insured, for-profit company. The ability to issue payments to eligible annuitants is a result of the unique opportunity Eder had to sell its annuities to a solid company and gather a surplus of funds from the transaction.
“Simply put, the surplus was a blessing from the combination of healthy stock market gains and higher interest rates,” said Nevin Dulabaum, president of Eder Financial. “It’s moments like this that make me extremely proud to do what I do and proud to uphold the integrity this company was founded upon.”
To provide annuitants with the most favorable tax treatment and control over the way they receive and use the funds, the funds will be deposited into an Eder Retirement account in their name, which is administered by Eder Financial’s partner, NWPS. The amount received will be based on the annuitant’s monthly annuity payment, with additional consideration given to those affected by the market downturn of 2008-2009, which resulted in Eder needing to reduce annuity distributions by an average of just under 20%.
It is not necessary for individuals to contact Eder concerning the distribution of additional funds. Accounts will be active in fall 2025, and eligible annuitants will receive a letter with more details about the specific amount they will receive.
For detailed information about the conditions that made this surplus possible, visit ederfinancial.org/Retirement-Enhancements.
About Eder Financial
Eder Financial is a not-for-profit agency, reportable to the Church of the Brethren Annual Conference, that provides retirement, insurance, and organizational investing services. Governed by a Board of Directors comprised of twelve Church of the Brethren members who have expertise in law, finance, benefits, and investment, Eder Financial serves individuals, organizations, and congregations affiliated with the Church of the Brethren as well as those of like mind within the broader faith-based and non-profit community. For further information, visit ederfinancial.org.
Contacts
Precious Earley, Public Relations Director, (847) 622-3366
Michelle Kilbourne, VP, Internal Capabilities, (847) 622-3371
