New Allegations Re: Church's Stock Portfolio

[Kenngo1969]

2 hours ago, Calm said:

One of the reasons suggested that LDS are longer lived is the fact we have meaningful work for our seniors to do.

One of my Bishops was Elder Albert Choules Jr., formerly of the Second Quorum of the Seventy when there were only two such quorums, and when, by and large, the call to the second of them was for five years' duration.  And, of course, as I'm sure many here know well, it is not uncommon for former General Authorities to be "repurposed" as, say, Temple Presidents.

[Fly Fisherman]

On 5/2/2024 at 5:22 PM, Calm said:

Mostly speculation alert….

The Church has had the habit in the past of hiring tech people who are just out of college from what I heard (that with its high turnover was the explanation for the rotten search function and other website issues) and then there is the fact that they don’t pay as well as comparable companies/universities from what I hear. I may be wrong or out of date on this as it’s been awhile since my husband was interested in working at BYU and tracking their salaries.  The salary offered back then was not a bad salary, just not one that would usually be used to attract the best and the brightest.  

Maybe they are shelling out high end salaries to ensure the best employees rather than trusting the desire to work for the Church or to contribute to the building of the Kingdom it is in some people’s minds (the for profit stuff I don’t see in the category as it would need to be a very different type of stewardship if it was) to be part of the ‘benefit package’ to bring in top notch employees.  It is possible, however, that they are not getting consistently the best advisors because of a practice of lowballing salaries though it would surprise me if they did at least when it came to finances.  That is something they seem to be very careful with, if conservative.

I can see them relying on the same employees at upper levels though rather than bringing in new blood to ensure any new and better practices are incorporated whenever possible.   This is just projection from what happens on the Church side of things as well as comments from acquaintances who were long time employees of one of the Church’s businesses (mostly Deseretbook).

I have worked for the Church as a software engineer full-time for a few years. I started as a two-year contractor, left for a few years, and returned full-time. I have a little over 30 years of experience in software engineering, and I am happy as a clam working for the Church. 

My compensation is fair - right around the mean for my experience and position. The health insurance is better than average for sure, and the long-term savings benefits are quite good with a 4% 401k match and a gift of 8% 401K - so the Church contributes 12% of my salary to my long-term savings. Most tech companies fall well short of this, given that they hire professionals in their 20s who are so far away from retirement that a measly 3% 401k match suffices for their wants/needs. However, they often get bonuses/stock that we don't get at the Church - so it's all in one's perspective of how the compensation/benefits at the Church compare with the rest of the tech industry. To summarize, I would use the words "fair" and "competitive" for my needs. 

Church employment in IT has had its changes and, admittedly, ups and downs over the years. This is why you hear so many stories of good pay and poor pay. From what I understand, the pay/benefits for IT employees in the past (10 years ago or more) probably weren't up to par and the notion of "you work for the Church to push the Work forward, not to get rich" was the mantra. But, that back-fired somewhat as IT turnover was high and IT systems necessary for the Church suffered. Plus, too much reliance on temporary contract workers hurt, as many of the contractors would leave before they could make much of a meaningful contribution, which, of course, is counter-productive. 

But, the Church has learned well, and adjusted, and the IT employee morale and satisfaction seem to be high as internal surveys lately done by the IT dept seem to confirm that. The working environment is second to none - so good, I would use the word "inspired". We are super busy in my position, but very productive, as unnecessary processes and micromanagement are at a bare minimum compared to other places I have worked over the past 30 years, which GREATLY enhances IT productivity. Experiences vary of course, but most IT people seem to be very happy working for the Church. 

[LoudmouthMormon]

18 hours ago, Fly Fisherman said:

the long-term savings benefits are quite good with a 4% 401k match and a gift of 8% 401K - so the Church contributes 12% of my salary to my long-term savings.

The 8% is a gift, meaning you don't have to contribute to get it?  Yeah, that's pretty dang awesome.  My S&P 500 high-tech employer does a very standard 100% match for the first 4%, and 50% match for the 2nd 4%.    Assuming the pay is par, that's outstanding.

[Fly Fisherman]

7 hours ago, LoudmouthMormon said:

The 8% is a gift, meaning you don't have to contribute to get it?  

Yes. 

[Teancum]

On 5/2/2024 at 12:27 PM, ZealouslyStriving said:

Finally found it!

"... it is not said at any time that the Lord should not take when he please, and pay as seemeth him good.

29 Wherefore, as ye are agents, ye are on the Lord’s errand; and whatever ye do according to the will of the Lord is the Lord’s business.

30 And he hath set you to provide for his saints in these last days, that they may obtain an inheritance in the land of Zion." (Doctrine and Covenants 64:28-30)

** So, quite honestly it's no one's business what the Lord's agents do with the Lord's money, esp. those who have rejected the Eternal Gospel.**

Sorry dude. Your church operates in a nation that is run by the rule of law not some self proclaimed scripture. So the rules apply. Break them and be punished. The church is not above the law and is certainly happy to use the law to it advantage as well.   Good lord what hubris. Are you a sock puppet for @teddyaware?

[LoudmouthMormon]

For 3 decades, I've had a rule of thumb: 

"First one to get personally insulting loses the argument, and most of their ability to persuade."

The times I've been the first one to toss an insult, it sure seems that way.  And reading T's dumb jabs sure make it harder for me to say "Oh look, a post from Teancum - I better read it 'cuz he's always got reasonable and worthy things to say!".  

 

I have a second rule of thumb for this board particularly. More of a loose guideline than an actual rule:

"The more pages of argument before the personal insults start flying, the more relevant or meaty the topic."

So, yeah.  This is apparently a big yawner of a topic.  Some humans made a mistake.  They'll fix it.  Time to move on.

 

I wanna be a sock puppet.  Does it pay well?