• Adoption Agreements for 2022
• Benefits Access Notice to Conferences
• Wespath Update to Participants
• Should You Be Worried About Inflation Right Now?
• May 2021 Monthly Investment Report

Adoption Agreements for 2022

Wespath recognizes that many of you plan to hold annual conference meetings virtually this year or are postponing in-person meetings until the fall. We request that you try to adhere to the normal annual timing for submitting 2022 adoption agreements as much as possible to ensure fall actuarial reports reflect the final 2022 Past Service Rates (PSR). If the rates are not final due to a delayed annual conference meeting, you may add a comment to that effect with your adoption agreement submission. We apologize for any challenges due to the approaching deadline for adoption agreement submissions. Please complete and submit the following documents:

• By June 28: Grant Continuation and Approval Report, which was e-mailed to conferences in early May.

• By June 28: Adoption Agreement Supplement One—CRSP (Pre-82 Plan), indicating the PSR and Contingent Annuitant Percentage for 2022 that were approved (or expected to be approved) at annual conference, even if they have not changed from the 2021 rates.

  To facilitate this process, we have created an electronic version of the Pre-82 Plan Adoption Agreement for you to sign electronically through Adobe Sign. Please refer to the instructions for completion. If you have any questions or issues with completing this document, contact your Client Services Manager. Once your conference's funding plan is approved, your adoption agreement will be signed electronically by Wespath representatives and you will receive an email containing a PDF of the fully executed adoption agreement for your records.

• By July 30: Your Comprehensive Benefit Funding Plan, which you can access at benefitsaccess.org

If you are making changes to CRSP or UMPIP for 2022, complete and submit:

• By June 28: Adoption Agreement for the Clergy Retirement Security Program (CRSP), indicating annual conference elections for part-time and full-time clergy effective January 1, 2022.

• By June 28: Adoption Agreement for Conference Sponsorship of Clergy in the United Methodist Personal Investment Plan (UMPIP), indicating annual conference elections for UMPIP sponsorship (participant and/or plan sponsor contributions) for clergy effective January 1, 2022*.

If you are not making changes to CRSP or UMPIP, you do not need to submit adoption agreements for those plans for 2022; your current elections will continue to apply.

If you need assistance, please contact:

• Your Client Services Manager with questions about the conference adoption agreements.

• Josh Lunsky, Benefits Determination Supervisor, at 1-847-866-4577 or jlunsky@wespath.org with questions about the grant report.

* If your annual conference is interested in adopting UMPIP Automatic Features for the first time effective January 1, 2022, please contact Sue Peterson at 1-847-866-4229 or speterson@wespath.org.

Benefits Access Notice to Conferences

At Wespath, we take the protection of information and benefits seriously. We are constantly evaluating and implementing ways to stay ahead of fraud and security risks with solutions that protect all participants. We are, however, aware that some participants are currently not able to access Benefits Access (BA) because we cannot verify some critical information as outlined in our security protocols. Unfortunately, this often means there isn't a current path to register for or sign into Benefits Access.

While the majority of participants are able to register or sign into BA without incident, we are evaluating alternative solutions for those who are having issues, while maintaining appropriate protections. Recently, we've implemented two changes that have improved the registration process for some participants. While we continue to evaluate additional solutions, a participant who cannot register for or sign into BA will need to call our Customer Service team at 800-851-2201 to complete updates or initiate transactions.

Below are common inquiries and how these can best be handled for those who cannot sign into Benefits Access. Inquiries will be secured following our protocol to verify identity:

• Intending to retire: Call the retirement team at 800-883-4078 who can address any questions and provide a paper Application for Benefits (AFB) to complete for their benefit set ups.

• To update information or find account balances: Call 800-851-2201. Participants have two options. If they have their PIN, they can obtain account balance information via the interactive voice commands. They can also speak with a representative who can verbally provide their account balance or assist them with updating information.

• To rebalance or check investment options: Call 800-851-2201 for assistance and select option 1 and 0.

• Verify beneficiaries: Call 800-851-2201 and select option 1 then 0 for assistance. Our representatives can send participants a confirmation of beneficiaries via secure email or USPS mail.

• Access to health information: Participants can contact their medical provider (BCBS/UHC) or Pharmacy provider (OptumRx) by calling the phone number on the back of their ID card or at their website (links below). They can also contact our Health team at 800-851-2201.
  
  • Blue Cross Blue Shield: https://www.bcbsil.com
  • UHC: https://www.myuhc.com
  • OptumRx: https://www.optumrx.com

We thank you for your continued patience and understanding as we continue to work to improve the experience for our participants while protecting their accounts.

Wespath Update to Participants

We sent a participant e-blast communication on Thursday, June 9. In this issue we:

• Noted UMCOR's work in India and showed how Virgin Pulse participants can support UMCOR

• Provided a link to Dave Zellner's blog about why Wespath takes a long-term view on inflation

• Continued to promote the Saving Grace money management program and encouraged clergy and lay leaders to teach the curriculum in their congregations

• Announced that the Dependent Care FSA maximum will remain the same and reiterated the ability to make changes mid-year

• Provided helpful to-do's and resources for clergy with new appointments

• Highlighted single sign-on feature for Blueprint for Wellness through Virgin Pulse available for both participants and spouses

• Noted extension of HealthFlex COVID-19 coverage until July 31, 2021

• Invited participants to register for upcoming Q2 UMPIP webinar focusing on available contribution accounts and available funds offered through Wespath

The email was customized according to five lists of participants: clergy in HealthFlex, clergy not in HealthFlex, lay employees in HealthFlex, lay employees not in HealthFlex, and employees of Florida Southern University. Participants received the articles that are relevant to them.

Should You Be Worried About Inflation Right Now?

You have likely noticed higher prices and booming home sales in your area. Greater consumer demand has contributed to increased inflation. In fact, the core inflation rate increased nearly 1% in April 2021—the highest increase since September 1981. CIO Dave Zellner examines the causes and explains why we adhere to a long-term investment approach in our latest Investment Insights blog. Read it here.

May 2021 Monthly Investment Report

This week we share the May 2021 Monthly Investment Report. The full report and new Markets at a Glance video, featuring Jake Barnett, Director of Sustainable Investment Stewardship at Wespath, are now available.

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