Vol. XVIII, Issue 24

June 18, 2019

Benefit Payment and Administration Reminders for July 2019

Initial Benefit Payments—July Retirees

Initial benefit payments for July 1 retirees are sent on the second business day of the month. Since banks are closed for the Independence Day holiday on July 4, payments will generally be directly deposited in retiree bank accounts within three business days.

Participants retiring on July 1 were sent an eblast or postcard to notify them about the payment delay.

If you have questions, please contact the Retirement Team at 1-800-883-4078 or RetirementTeam@wespath.org, or your plan sponsor manager at 1-800-269-2244, ext. 4003.

Insurance Deduction Reporting

The July 1 Insurance Deduction Report will not include clergy who retire on July 1, because of when annuity payments are processed. The July retirees will be reflected on the August 1 report.

Reminder: Batch Upload Processing

If you need to submit batch uploads (Memberships and Appointments, Compensation and UMPIP Deferrals) prior to the effective dates and are unfamiliar with the process, the Plan Sponsor Manager team is available to assist you at 1-800-269-2244, ext. 4003.

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