Vol. XXIII, Issue 20
May 9, 2024
Post-General Conference Update
Wespath is grateful for the many opportunities to connect with our annual conference partners during General Conference in Charlotte, N.C.—including delegates, benefits officers, treasurers, administrators and others.
We are processing the plan changes approved by General Conference and will provide more information in coming weeks. In the meantime, please note these highlights on approved petitions:
Ministerial Pension Plan (MPP)—new optional alternative to annuitization (65% of account balance):
- Wespath has prioritized this newly approved option, which gives clergy in MPP an option to move the 65% account balance to LifeStage Retirement Income (LSRI) instead of annuitizing. This new option is available tomorrow (May 10) for clergy who are retiring this spring. We will share information directly with eligible clergy intending to retire this year.
Other approved plan changes—watch for more information to come:
- Compass (January 2026). We will work with conferences over the next 18 months to smoothly transition from the Clergy Retirement Security Program (CRSP) to Compass. We will also communicate directly with clergy to ensure they have the education and information needed to make this transition.
- Comprehensive Protection Plan (CPP) changes—These changes were effective as of the close of General Conference. We will provide more information to plan administrators soon.
A summary of Wespath's approved petitions is here. Thank you for your ongoing partnership in caring for those who serve in your conferences.
April Monthly Investment Report and Video
In our Markets at a Glance video, Wespath's Jon Strieter explores growing concerns about "stagflation" in response to the latest U.S. economic growth and inflation data. He also highlights the compounding factors behind housing affordability challenges in the U.S. Read our April Monthly Investment Report to learn more.
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