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

Vol. XXIII, Issue 22

May 22, 2024

2025 DAC Finalized at General Conference; 2026 DAC Now Available

As one of the outcomes of General Conference (GC), the Denominational Average Compensation (DAC) for 2025 has been finalized at $80,003. GC also passed petitions eliminating moving expense reimbursements from the DAC for 2025 and going forward. Our previous communication contained preliminary 2025 DAC amounts pending GC approval. The DAC will now be automatically adjusted annually by 2%, meaning that the 2026 DAC will be $81,603. 2026 Conference Average Compensations (CACs) will be provided by June 30.

Moving Expenses No Longer Included in Compensation

Moving expenses are no longer included in the definition of plan compensation for Clergy Retirement Security Program (CRSP) and Comprehensive Protection Plan (CPP), as General Conference passed a petition removing moving expenses from the calculation for ongoing contributions effective January 1, 2024. Going forward, please do not report moving expenses in the Benefits Access Portal (BAP).

Preparing for Your Annual Conference Gathering—Wespath Materials Available

The 2024 virtual toolkit with information for your Annual Conference gathering is now available.

The toolkit includes links to downloadable resources, including an overview on the new Compass clergy retirement plan.

You can also order hard copies of the toolkit materials, including celebratory pins for retirees. Please allow up to 10 business days for delivery of materials.

Reminder: Wespath Holiday Closing—Memorial Day

Wespath will be closed on Monday, May 27, in observance of Memorial Day. Customer Service assistance will be unavailable that day.

Benefits Access for participants can be used to access account information and complete transactions 24 hours a day, seven days a week.

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

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