NEW YORK, NY, November 14, 2024 –Louis Barbarin, chief executive officer of the Ministers and Missionaries Benefit Board announced his retirement effective August 31, 2025. The announcement was made during MMBB’s Fall 2024 Board of Managers meeting.
Louis P. Barbarin joined MMBB in 1998 as assistant treasurer and held roles as treasurer, CFO, and deputy executive director before becoming CEO. Prior to his time at MMBB, Louis served as the deputy executive director and treasurer of the American Baptist Board of Education and Publication. His background also includes positions as controller and acting vice president of finance at Cheyney University of Pennsylvania and at KPMG. Louis holds a Bachelor of Science in Accounting, a Master’s in Finance from The Pennsylvania State University and completed the Harvard Business School Advanced Management Program. He was awarded an honorary doctoral degree by the Berkeley School of Theology and is a licensed CPA in New York and Pennsylvania.
During his tenure as CEO, Louis led MMBB with a vision of “being a premier financial services ministry in the free church community, providing comprehensive solutions for its members and employers on the journey to and through retirement.” Under his leadership, MMBB expanded its support of pastoral leaders through financial wellness and mental health initiatives funded by over $5.2 million in grants from Lilly Endowment Inc.
Louis also spearheaded critical operational improvements, including the investment in advanced customer relationship management and data systems to improve service efficiency and the member experience. MMBB transitioned to Fidelity for retirement plan recordkeeping, introducing the NetBenefits® platform, a Roth 403(b) option, and a newly updated Member Portal. To enhance accessibility, MMBB also expanded website features and communications to include Spanish-language support.
With the addition of the Vanguard Target Date Funds (TDFs) to our fund offerings, MMBB enhanced our products and services to members making it easier to save for retirement. Members can choose from a family of funds in which each TDF is a well-diversified portfolio in one fund and can select the TDF that most closely corresponds to the year when they plan to retire.
Under Louis’ steady hand and compassionate leadership during the Covid-19 pandemic, MMBB adapted and responded to support ministers, churches and faith-based organizations by overseeing a smooth transition to remote operations and the continuity of services on which members and employers depended.
MMBB’s Tomorrow newsletter and other publications offered insights on financial topics like clergy tax matters and identity protection, while the organization expanded its reach through social media, electronic billing, and Spanish-language resources.
Louis ardently represented MMBB’s commitment to advocacy in the church plan benefits arena. With the Church Alliance, he was a member of the steering committee where he served as vice chair and chair of the Tax and Retirement workgroup. Louis was a board member of the Church Benefits Association, serving as the first chair of the CFO topical interest group and planning chair for the 2020 annual meeting.
Reflecting on his time with MMBB, Louis commented, “It has been an honor to serve an organization that supports pastoral and lay church staff. I hope that I have been found faithful to the mission and legacy of MMBB.”
Ms. Gwynn Perlich, Chair of the MMBB Board, remarked, “As a Board, we have appreciated Louis’ leadership. MMBB is in a strong and stable position both operationally and financially, a testament to the strategic plans and foundations built by staff and Board members over the years.”
Ms. Perlich will be responsible for establishing a search committee comprised of Board members to lead the selection process for a new chief executive officer. The committee will be charged with identifying and evaluating qualified candidates for the position. The search process is expected to begin next month. The focus will be on conducting a thorough and inclusive search to identify the best candidate to lead the organization forward in the mission to “promote interest in the better maintenance of the ministry.”
MMBB is grateful for Louis Barbarin’s dedication to its mission and his numerous contributions. Under his guidance, MMBB has fortified its commitment to provide financial security and holistic support for church leaders across denominations.
MMBB Financial Services is the non-profit financial steward for more than 18,000 members and their employers, churches, church-related organizations, and their families in the U.S. and Puerto Rico. As pioneers in providing employee retirement benefits—and with nearly $3 billion in assets—MMBB carries forward a 100-year tradition of offering competitive returns, experienced management advice and sophisticated financial analytics tailored to the unique needs of the religious community.
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