• Conference Forum—Follow-Up
• Training for New CBO/CBOP Staff—Follow-Up
• Potential Disaffiliations—Updated FAQs Now Available
• Benefits Access Portal Updates

Conference Forum—Follow-Up

Thank you to all the conference representatives who attended the Conference Forum on October 16, 2020. We appreciate your flexibility with technology as we continue to connect with you though virtual events.

Wespath values your ongoing partnership in serving UMC participants. We are providing copies of the Conference Forum presentations. The presenters provided additional context during the event, so please consider this as you make decisions about the appropriateness of sharing presentation materials with those who did not attend this Conference Forum. Recordings of the sessions will be forthcoming in a future OBX.

Presentations

• Compass Plan Implementation
• Wespath Proposals for General Conference 2021
• Saving Grace
• Customer Service Update
• Legal Update
• Benefits Access Demonstration—this was a live demo of our beta site. This webpage provides more information.

Handout

• Guidelines for Conferences—Survivor Benefits Process

This handout was created to assist conferences in understanding the survivor benefits process for clergy families who experience a loss. Please direct any questions about the survivor benefits process to Helen Exarhakos at hexarhakos@wespath.org or your Wespath plan sponsor manager.

Training for New CBO/CBOP Staff—Follow-Up

Wespath looks forward to building our relationship with the Church’s newest Conference Board of Pension (CBOP) members, conference benefits officers (CBOs) and conference treasurers. Thank you for attending our training sessions on October 8 and 15, 2020. We are providing copies of the presentation materials for your reference.

Presentations

• UMC Pension Plans—History and Evolution
• CBOP Duties and Discipline Obligations
• Welfare Benefits Overview
• Saving Grace
• Investment Solutions for UM Investors
• Health and Well-Being Offerings
• Plan Sponsor Decisions
• Retirement, Health and Wellness

Handout

• UMC Pensions—Historical Perspective

Potential Disaffiliations—Updated FAQs Now Available

While the 2020 General Conference has been postponed to August 2021, some clergy, local churches and annual conferences continue to explore options for potential disaffiliation from The United Methodist Church. Wespath has updated these detailed FAQs to support decision-making.

Book of Discipline changes that were approved by General Conference 2019 remain in effect:

• A local church that disaffiliates must pay a withdrawal liability to cover its share of unfunded pension liabilities (and any other expenses due) to the conference it is exiting—per new ¶2553.4.d and ¶1504.23. This “fair share” amount is determined by the conference based on a valuation of the unfunded pension liabilities from Wespath measured on a “market basis.”
• Active clergy who disaffiliate will have earned retirement benefits converted to an individual account balance and deposited into their United Methodist Personal Investment Plan (UMPIP) account [also called a “DB to DC conversion” (defined benefit to defined contribution)].

Unless and until the Discipline is further amended by a future General Conference, these Discipline and plan provisions apply. Wespath submitted legislation to General Conference 2020 (now 2021) to address the pension/benefits impact if there is a large-scale restructure of the denomination, as explained here. However, Wespath’s proposal (new Discipline ¶2555) must be approved by General Conference to become effective.

The updated FAQs provide much more detail for clergy, churches and conferences considering a potential disaffiliation.

Benefit Plans Outside the UMC

As a reminder, Wespath is authorized by the Discipline and permitted by federal law to administer benefit plans such as UMPIP for annual conferences, groups of churches, or even a single church that might change its affiliation with the UMC or join a new Methodist expression that might emerge in the foreseeable future.

Please send any benefits-related questions you may have regarding potential disaffiliations to Tony Prestipino or Steve Clark.

Benefits Access Portal Update

Tonight at 6:30 p.m. Central time, we plan on performing maintenance on the Benefits Access portal to restore some reporting functionality. During this time you will not be able to access this system. We apologize for this inconvenience and anticipate that systems will be fully restored by tomorrow morning.

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