Clergy Compensation Calculator
Want to know how much to budget for your church’s pension costs? The Clergy Compensation Calculator on the Treasurer’s Office Pension website can provide the answers you’re looking for. This tool performs the mathematical functions of the Clergy Compensation Worksheet without interfering with official compensation reports. Pastors, Finance Committee and SPRC members (anyone, really!) can run any number of compensation package scenarios to learn how different choices will impact the church’s pension budget line items and the pastor’s pension-related payroll withholdings. For questions, contact JoAnna Ezuka, Benefits Coordinator, at email@example.com.
Trying to Make Sense of the Church Pension Plans?
Download the Clergy Pension Benefits Guide 2020 for answers to the most commonly asked questions and current years’ pension rates. See the Pension Plan History outline for previous years’ CRSP and CPP billing rates. Ready for 2021? Download the Clergy Pension Benefits Guide 2021 to see plan design and cost changes coming next year.
Virtual Clergy Event: Wespath Benefits and Investments “Delivered to You”
Wespath will host another “Delivered to You” educational event on Monday and Tuesday, February 8-9, 2021 and will be two half days—in the afternoon. The event will provide educational information that will inspire and encourage clergy of all ages and stages in ministry.
The registration fee is $49.00. The fee offsets the cost of an event Care Kit that will be delivered to each attendee who is registered in advance, to help them participate fully and enjoy the event more.
Check our website for more information and to register today.
Clergy are invited to apply for continuing education funds to put toward the cost of this event. Register for the event first and then submit a receipt with your continuing education funds application.
Wespath Letter to 2020 and Future Retirees
We realize some participants in the UMC retirement investment accounts may have questions about their pending or future retirement. Please see Wespath’s Retirement FAQs for participants for answers to key questions.
NEW EY Website Launch
EY Financial Planning Services has launched a new website—EY Navigate—to replace the previous website.
EY Navigate includes added technology and functionality, such as:
- Direct messaging to help participants connect with their financial planners
- New, more focused questionnaires with smaller actions participants can take to improve their financial situations
- Account aggregation so that they can link financial accounts (checking, savings, etc.) and retirement account balances at Wespath and other providers for a more comprehensive view of their progress toward goals and cash flow
- A new Confidence Checkup that replaces the Financial Wellness Assessment
Impact on Participants:
Accessing the new website will require participants to register, even if they are registered for the current site, to ensure security. In addition, participants who uploaded documents to their secure mailboxes on the current EY website, will need to download and save them by November 1. The documents WILL NOT BE accessible from EY Navigate. If participants need access to these documents after November 1, their EY planners will have to retrieve them manually.
UMPIP Automatic Features
Accessing Retirement Funds
Considering withdrawing your retirement money to meet a current financial need? The United Methodist Personal Investment Plan (UMPIP) is designed to provide retirement income. During difficult economic times, however, participants may feel forced to access these funds to relieve immediate financial obligations. This article describes and compares two methods of withdrawing money from your UMPIP account prior to retirement.
The New and Improved Benefits Access
Our lives are filled with so many tasks that create more work for us—accessing your Wespath benefits shouldn’t be one of them.
With so many other websites, it can be difficult to remember where or how to access your Wespath benefits and services. That changes later this year, when the new and improved Benefits Access becomes your single website for all your retirement and disability benefits.
Recent updates to the design and navigation of Benefits Access make it easier to use on your computer and mobile devices. With the new Benefits Access, you will still enjoy the improved site design and navigation with the added ability to see a summary of all your Wespath benefits. Benefits information will be right at your fingertips, whether you’re at home or on the go.
The way you log into Benefits Access will stay the same. Simply use your current Benefits Access login credentials at benefitsaccess.org. Not registered yet? Sign-up today!