MMBB

Résumé du livre

At its creation, MMBB depended upon financial resources philanthropically provided by Baptist laymen, notably Milo C. Treat and John D. Rockefeller, and more modest contributions by others. But by 1921, MMBB developed a Retiring Pension Fund, an early form of a defined benefit plan funded by contributions from individual members and employers. This approach, under-girded by philanthropic gifts, enabled the development of a long-term, sustainable pension fund. Later MMBB was a pioneer in developing a variable annuity form of fund investment intended to link pensions with economic development. Its hundred year record of success, through major wars, the Depression, and market cycles demonstrates MMBB's ability to raise adequate resources for its programs, its long-term practice of prudent management based on actuarial projections, and a succession of competent and committed executive leaders-all principles based on the persistent, focused vision of founder, Henry Morehouse. Book jacket.