Church benefits board as trustee (new law)

Some churches have benefits boards organized to administer or fund a retirement or other benefits plan for employees of a specific church or an association of churches.

A new law, signed May 7 by Gov. Tim Pawlenty and effective the next day, expands a board’s authority to act as a trustee over a lawful trust.

Sponsored by Rep. Steve Simon (DFL-St. Louis Park) and Sen. Gary Kubly (DFL-Granite Falls), the law applies to trusts no matter when they were created.

HF1823/SF1754*/CH43