On Board Express Archive || E-Newsletters || Wespath Benefits and Investments Website

Vol. XX, Issue 55

December 14, 2021

Reminder to Update Benefits Access

As the year-end approaches, we would like to remind all conferences to please be timely with updates to Benefits Access for all participant-related changes effective January 1, 2022. The January 1, 2022 data in Benefits Access is used for the actuarial valuations performed in 2022 for the 2024 contributions. It is important for this data to be accurate and up-to-date.

The January 1, 2022 pay rates entered into Benefits Access impact the 2024 Denominational Average Compensation (DAC), and to the extent this data is not current, the DAC will not be either. Also, updates to appointment percentages for January 1, 2022 impact the 2022 actuarial liabilities and the resulting 2024 contributions. Therefore, it is important that the Benefits Access system is updated timely for January 1, 2022 data changes.

To ensure January billing (CRSP, CPP and UMPIP) is accurate, please update 2022 compensation no later than January 7, 2022.

Please contact your Client Relationship Manager or Client Services Manager with any questions.

Barbara Boigegrain Reflects on Her Years of Service—New Video

As Barbara Boigegrain prepares to retire at the end of this month, she has been reflecting on her service to The United Methodist Church and her leadership journey at Wespath. Barbara has led Wespath since 1994. With over 27 years as Wespath’s General Secretary and CEO, Barbara has served longer than any other UMC general secretary.

We invite you to watch this video, as Barbara provides reflections from the past 27 years. Please feel free to share the video within your conference.

New General Secretary: January 3

Andy Hendren will assume the role of General Secretary and CEO on January 3, 2022, as announced in the July 15, 2021 On Board Express. Andy is a long-time Wespath employee with an unparallel depth of experience and strategic leadership in denominational, legal and regulatory matters. He has worked closely with Barbara for many years. His election to General Secretary assures a smooth transition and continuity in Wespath’s ability to serve plan sponsors, participants, institutional clients and other stakeholders.

November 2021 Monthly Investment Report

The November 2021 Monthly Investment Report and new Markets at a Glance video, featuring Jon Strieter, Impact Investments Analyst at Wespath, are now available.

Wespath Update to Participants

Wespath will send a participant email on Tuesday, December 14 and Wednesday, December 15. This issue contains articles about General Secretary Barbara Boigegrain's retirement, 2022 IRS contribution limits, upcoming learning opportunities for clergy, IRS adjustments to flexible spending account limits, how Wespath's low-carbon investment strategies are paying off, a link to the latest Markets at a Glance and a link to a Christmas card from 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.

Wespath Holiday Closing—Friday, December 24

Wespath will be closed on Friday, December 24, in observation of the Christmas holiday. Customer service assistance will be unavailable during this time.

Benefits Access for participants can be used to access account information and complete transactions 24 hours a day, seven days a week. The automated phone system, accessible by calling 1-800-851-2201, will also be available for participants.

The Wespath Institutional Investor Portal and Benefit Access Portal for Plan Sponsors will be available to plan sponsors, conferences and institutions.

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