Retirement Plan for General Agencies (RPGA) Information

Publications Now Available

To prepare for the rollout of the Retirement Plan for General Agencies (RPGA) on January 1, 2010, the General Board has developed a brochure and an “at-a-glance” overview providing information on the program.

Onsite Informational Sessions

Your plan sponsor liaison, Manuel Vargas, will be contacting your agency in early August to schedule informational sessions to be conducted at your agency in September or October 2009. These sessions will provide an overview of RPGA. Copies of these publications will be distributed during the sessions. However, you may want to encourage your employees to review the publications prior to these sessions.

Retirement Security Program for General Agencies (RSP)

RPGA will replace RSP on January 1, 2010. Participants’ RSP defined contribution accounts as of December 31, 2009 will become their opening RPGA account balances on January 1, 2010.

Monthly defined benefits earned as of December 31, 2009 that are not in pay status on December 31, 2009 will be converted to equivalent lump sums and deposited into participants’ RPGA accounts in early 2010.

The General Board will be developing materials later this year to explain how the monthly defined benefit earned under RSP will be converted to a lump sum. We will share these materials with you as they become available.

In preparation for the conversion from monthly defined benefits to lump sums, we will send you a report later this fall listing all your participants and their birth dates, service and compensation. This information will be used to calculate the accrued defined benefit and the lump sum equivalent. Once you have verified this data, we will send statements to participants and ask them to confirm their information and/or work with you to correct it. When we complete the conversion in the first quarter, we will send statements to the participants explaining the computation. The lump sum amounts will also appear on their first-quarter RPGA account statements.

If you have any questions, please contact Manuel Vargas at 1-847-866-4565 or mvargas@gbophb.org.

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