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ARCRA Webinar - Thursday, November 4 - Update on Red Cross Finances with Brian Rhoa, CFO, American Red Cross

10/07/2021 11:46 AM | Anonymous

Brian Rhoa, CFO, American Red Cross, will share important financial information and perspectives on the Red Cross and specifically on the Red Cross Defined Benefit Pension Plan.

The webinar will be interactive and provide an opportunity for participant questions.  His comments will include:

  • Red Cross financial performance, especially in light of the impact of the pandemic.
  • Funding/financial status of the Red Cross Retirement Plan and Funding Ratio
  • Retirement System De-risking Actions - explaining past de-risking decisions and their objective to reduce the liability and Pension Benefit Guarantee Corporation premiums over time.

Keep in mind that the Red Cross is the sole sponsor and fiduciary of the defined benefit plan and is bound by ERISA and other laws to pay plan benefits in accordance with plan commitments. As of June 30, 2020, plan pension liabilities totaled $2.5 billion and the fair value of plan assets at that date were $2.4 billion. There are 22,536 plan participants of which 8,094 are retirees or beneficiaries receiving benefits. During the Red Cross fiscal year 2020, they paid out $172 million in benefits.

You can join the event by using the online link or dialing from your phone using the phone numbers below.

Time: Nov 4, 2021 02:00 PM Eastern Time (US and Canada)

Join Zoom Meeting

https://us02web.zoom.us/j/88151870445?pwd=VHB4eHBuQXM4VjlUYzBRR1hmT0QyQT09

Meeting ID: 881 5187 0445

Passcode: 309678

Phone in from your location

+1 301 715 8592 US (Washington DC)

+1 312 626 6799 US (Chicago)

+1 929 205 6099 US (New York)

+1 253 215 8782 US (Tacoma)

+1 346 248 7799 US (Houston)

+1 669 900 6833 US (San Jose)

Meeting ID: 881 5187 0445 Passcode: 309678


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