Boost Your Retirement Savings With the Transition Fund

The NC Conference Transition Fund is an additional way qualified participants can save money and earn additional contributions toward their retirement savings.  Eligible participants may designate a contribution as their United Methodist Personal Investment Plan (UMPIP) or Compass contribution and simultaneously designate an additional contribution as their Transition Fund contribution. Contributions made by enrollees appointed on a 50% or 75% time basis will be deposited monthly into the participant’s UMPIP account with Wespath Benefits and Investments. Contributions made by enrollees appointed on a 100% time basis will be deposited monthly into the participant’s Compass account.

How does it benefit me?

This added Transition Fund contribution increases the participant’s personal savings for retirement and earns credit toward an additional annual contribution by the NC Conference to the participant’s UMPIP account.

In some cases, participants may save money in the amount of Federal and State income taxes owed on current income from work or on future withdrawals of contributions or earnings as a retiree.

The same flexibility, investment control, 100% ownership, accessibility, and beneficiary designations participants have with their Compass or UMPIP account balance will also apply to their Transition Fund contributions.

When does it benefit me?

Eligible participants may enroll at any time. There is an automatic enrollment with an option to waive for those who become eligible for the first time. The annual NC Conference contribution is earned after the participant has accumulated 5 years of Transition Fund credit by making personal Transition Fund contributions.  The first annual NC Conference contribution is deposited in the 6th year of membership.  Credit and the annual NC Conference contribution then continue to be added to the participant’s UMPIP account for each year thereafter until retirement as long as the participant continues to make Transition Fund contributions.

Download the Transition Fund Enrollment form for more details.  Additional questions can be directed to benefitsteam@nccumc.org.

The Transition Fund is an Addendum to the NC Conference’s sponsorship of the United Methodist Personal Investment Plan (UMPIP) and Compass plan.  The Addendum defines eligibility and the Conference’s annual Discretionary Contribution as approved by the 2022 session of Annual Conference.