UMPIP Automatic Features in 2019
New Tool: 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, Pension Program Administrator, at firstname.lastname@example.org.
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.
Trying to Make Sense of the Church Pension Plans?
Download the Clergy Pension Benefits Guide 2019 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.
EY Introduces New Website and Financial Wellness Assessment
EY has upgraded its Financial Planning Center website for Wespath participants to better serve you. See what the new website now has to offer here.
Online Access to Your Pension Benefits
Benefits Access is the website designed to help participants in Wespath-administered retirement accounts manage their benefits and prepare for retirement. The website offers enhanced security, tools to project pension benefits in retirement, the ability to view and update beneficiary designations, online applications for in-service loans and post-retirement benefit elections, electronic delivery for statements and Hark! newsletters, and other educational resources.