Retiree Benefit Cut Sparks Controversy
The North American Mission Board (NAMB), one of the wealthiest entities in the Southern Baptist Convention (SBC), has ended life insurance coverage promised to its forced retirees. The board cited financial pressure and framed the decision as “responsible stewardship.” However, critics argue that the $1 million annual savings are insignificant compared to NAMB’s $191 million budget and do not justify breaking a written promise made in 2010. Supporters say the cut helps NAMB live within its means, but many retirees feel betrayed. Some pastors have called the move morally questionable, citing Scripture on keeping promises, even when costly.
Financial Pressure Rooted Elsewhere
NAMB’s audited financials reveal that retiree-related liabilities have declined 64% over the past 12 years, falling from $101.8 million to $36.3 million. In contrast, operating deficits have worsened significantly. Since 2020, NAMB has burned through $85.7 million in operating cash, forcing it to sell $135 million in investments and property. Critics say the board’s spending on staff, administration, and contractors—not retirees—is the real problem. The $675 per household insurance cost is a fraction of the board’s multimillion-dollar overhead and recurring operating deficits.
Overspending Beyond Approved Budgets
Each year, NAMB submits conservative budgets to churches but consistently overspends by 29–30%. For example, while the 2024 budget was $137 million, actual spending hit $191 million. Churches are seeing budget restraint on paper, but financial statements reveal otherwise. Critics say this undermines credibility and makes cost-cutting claims harder to take seriously. Despite repeated financial warnings, spending has continued to rise.
Headquarters Growth Contrasts with Retiree Cuts
While cutting retiree benefits, NAMB increased administration costs by 42.7% and doubled contract services from 2020 to 2024. Personnel costs also rose 20%, reaching $41.43 million. Critics argue that asking retirees to sacrifice while headquarters expands sends the wrong message. NAMB’s financial choices reflect prioritization of internal growth and strategic partnerships over long-promised support to former missionaries.
Growing Concerns Over Transparency
Pastors’ requests to view NAMB’s salary structures have repeatedly been denied. Meanwhile, contractor payments and compensation for high-profile figures remain unclear. The board’s refusal to disclose this data, along with the quiet removal of a retiree health reserve fund, has deepened concerns about transparency and accountability. Critics argue this erosion of openness weakens institutional trust and accountability.
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Inside NAMB’s deficit spiral and the retirees paying for it
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