Wespath Updates

In April, Wespath will make updates to its systems related to Benefits Access enhancements and a fund name change.

Benefits Access Enhancements
The participant account management website will be updated to offer:

• A tool for participants to consolidate defined contribution accounts (i.e., the United Methodist Personal Investment Plan, Clergy Retirement Security Program Defined Contribution Account, Retirement Plan for General Agencies). The consolidation transactions will process as transfers and will have no associated tax consequences.
• Access to beneficiary updates for retired and terminated participants.
• A redesigned clergy service report that is similar in style to the report available in Benefits Access for plan sponsors.

Fund Name Change
The name of the Equity Social Values Plus Fund (ESVPF) will change to the Social Values Choice Equity Fund (SVCEF), to align with the naming convention adopted for the “Social Values Choice” suite of funds, which are designed for investors with a heightened focus on corporate environmental and social performance.

Participants do not need to make any changes to their investments as a result of the name change. Those who currently invest in ESVPF will be sent a postcard via e-mail or mail to inform them about the change. Read more about the Social Values Choice suite of funds at wespath.org/investments/funds/.

Next Steps
Wespath will provide additional information about these changes, including dates when impacted systems will be unavailable in a future OnBoard Express.

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