Benefits Information
Welcome to your complete source for clergy benefits!
Please click on the links to the right (or bottom if you are on a mobile device) to see information about specific benefits information.
Pensions, Retirement Planning and Other Services
Clergy Retirement Security Program (CRSP) provides both a defined benefit and a defined contribution plan to the clergy of the UMC who are serving in appointments 75% or greater. Churches will be billed by the conference for their pastor’s CRSP pension on a monthly basis. This is an employer paid benefit.
Comprehensive Protection Plan (CPP) provides death, long-term disability and other welfare benefits for eligible clergy. Clergy who serve at 100% are automatically enrolled in CPP. Churches will be billed 3% of the total compensation for CPP. This is an employer paid benefit.
United Methodist Personal Investment Plan (UMPIP) is a retirement plan administered by WesPath Benefits & investments. UMPIP is designed to provide one piece of your overall retirement portfolio. It is a voluntary plan and both the clergy and church may contribute. Each church must become a UMPIP Plan Sponsor. Churches will remit all UMPIP contributions directly to WesPath on a monthly basis. The pastor must complete a contribution election form with each new appointment - contributions are not transferrable to a new church. Even though part-time clergy (those serving less than 75%) are not eligible to participate in CRSP, their church is still required to budget for clergy pension and contribute to the pastor’s UMPIP account.
Socially Responsible Investing & Funds WesPath offers investment funds representing varying levels of risk and return to eligible participants through benefit plans and programs of The United Methodist Church and its affiliated organizations. All WesPath investments are screened according to policies adopted by their board of directors in accordance with the Social Principles of The United Methodist Church.
UMLife Options offer long-term disability (LTD) and life insurance coverage for eligible United Methodist clergy and lay employees. By offering UMLife Options plans, United Methodist Church (UMC) provide an extra layer of financial protection for their clergy and employees. http://www.wespath.org/center-for-health/plans/umlifeoptions/
Ernst & Young Financial Planning Services WesPath has arranged to offer EY Financial Planning Services at no charge to active participants with an account balance, surviving spouses with an account balance, terminated and retired participants
EY’s financial planners can provide confidential, objective guidance on:
- making investment decisions,
- saving for retirement,
- managing debt,
- understanding tax issues,
- evaluating insurance needs and options, or
- buying a home.
To take advantage of this valuable resource, just call EY directly at 1-800-360-2539 between 9:00am and 8:00pm, Eastern Time, Monday through Friday. http://www.wespath.org/retirement/services/ey/
