Annual Reports

2020 Annual Report
Message from the Chair

As Board Chair of the YMCA Retirement Fund, it is my privilege to present the Fiscal Year 2020 Annual Report. I come from a family with a multi-generational commitment to both the YMCA Movement and the YMCA Retirement Fund, the Y has been one of the consistent threads throughout my life.

YMCA staff are remarkable people, helping make their communities a better place to live, work and raise a family. The Fund offers a unique pension plan with a sole focus on providing YMCA staff with a benefit characterizd by two essential features: protection from investment volatility and lifetime income in retirement.

The Impact of COVID-19

None of us knew at the beginning of the fiscal year in July 2019 that our world would be turned upside-down by a global pandemic. The devastating impact on YMCAs and their dedicated staff has been heartbreaking. The words “bounce back” do not really apply, however, in ways previously unimaginable, YMCAs and their staff are finding ways to “bounce forward” into a new normal.

The Fund is committed to support Ys during this process, striving to be the reliable partner it has been for nearly 100 years, through wars, economic disruption and now a health crisis. Through it all, our promise has not changed: to ensure that YMCA staff receive protected lifetime income in retirement.

Recognizing Trustees

The trustees of the Fund are volunteers, just like those who serve on local YMCA Boards. In fact, many of the Fund Trustees started on a local YMCA board. This year, we were pleased to welcome a new trustee, Patricia Haverland. She brings both YMCA and pension experience to the Fund.

Pat retired as VP & CIO for Siemens, North America Pensions. Just as importantly, she is currently a member of the Board of Directors at the Madison Area (NJ) YMCA, and previously was a Y member in Greater Morristown (NJ), Towson (MD), Long Island (NY) and Marietta (GA).

At the end of 2020 we will bid farewell to two veteran trustees, Scott Luttrell and Eric Mann.

Scott has been a trustee since 2013, serving as Chair of our Investment Committee. A skilled investment professional, he is a longtime supporter of the YMCA. Before moving to Dallas, he served on the Tampa YMCA Board as treasurer and then Chair of the Governance Board and Investment Committee.

Eric joined the Fund’s board in 2007 and is Chair of our Benefits & Operations Committee. Currently CEO of the YMCA of Florida’s First Coast in Jacksonville, his YMCA career has been stellar, with leadership roles in Pittsburgh, Charlotte, Cincinnati, Asheville, Central Connecticut and Los Angeles.

The Fund’s Future

One year ago the Board directed our new CEO, Scott Dolfi, to lead us in a strategic analysis of the present and future of the Fund. The Board approved the strategic plan in May 2020, and has full confidence in the plan going forward. My fellow trustees and I recognize the awesome responsibility we have to provide oversight to the experts on the Fund’s leadership team as they work to protect and grow the retirement savings for YMCA staff nationwide. As we approach our centennial, the Board’s focus is to assure uninterrupted service to future generations, and for that you have our promise.

William D. Rueckert
Board Chair