• May Monthly Investment Report and Video
• Upcoming Deadlines: Adoption Agreements for 2025
• Wespath Holiday Closing—Juneteenth
• System Outage for Participants—Tonight

May Monthly Investment Report and Video

In our Markets at a Glance Video, Director of Investment Research Raj Khan details the continued strength of computer chip maker Nvidia. And read our May Monthly Investment Report to learn about the mixed global economic data, including slow U.S. economic growth, rising inflation in the Eurozone, and increased Chinese factory production.

Upcoming Deadlines: Adoption Agreements for 2025

If your annual conference meeting will occur before the end of June, please adhere to the schedule below for submitting 2025 adoption agreements to ensure fall actuarial reports reflect the final 2025 Past Service Rates (PSRs) and Contingent Annuitant Percentages (CAPs).

If the rates are not final because the annual conference meeting has not occurred yet, please send an email to your Client Relationship Manager by June 28, 2024 indicating the estimated PSR and CAP that Wespath should use for the actuarial valuation. Once the PSR and CAP are confirmed at annual conference, you can submit the adoption agreement.

Unless otherwise noted, completed forms are due June 28, 2024.

• Adoption Agreement Supplement One—Clergy Retirement Security Program (CRSP) (Pre-82 Plan)—indicate the Past Service Rate (PSR) and Contingent Annuitant Percentage (CAP) for 2025 approved at annual conference, even if they have not changed from 2024.
  
  Please use the link above to complete the form electronically (refer to the instructions for completion). Once your conference's funding plan is approved and your adoption agreement is signed by Wespath representatives, you will receive an email with the fully executed adoption agreement attached for your records.


• Surplus Intention Form—this form was emailed directly to you on May 31, 2024 by Kevin Menczynski.


• Comprehensive Benefit Funding Plan—complete in Benefits Access by July 31, 2024.

If you are making changes to CRSP or the United Methodist Personal Investment Plan (UMPIP) for 2025, complete and submit the appropriate form by June 28, 2024:

• Adoption Agreement for CRSP—indicating annual conference elections for part-time and full-time clergy effective January 1, 2025.


• Adoption Agreement for Conference Sponsorship of Clergy in UMPIP—indicating annual conference elections for UMPIP sponsorship (participant and/or plan sponsor contributions) for clergy effective January 1, 2025*.

If you are NOT making changes to CRSP or UMPIP, you do not need to submit these adoption agreements for 2025; your current elections will continue to apply.

If you need assistance, please contact your Client Services Manager.

*If your annual conference is interested in adopting UMPIP Automatic Features for the first time effective January 1, 2025, please contact Sue Peterson at 1-847-866-4229 or speterson@wespath.org.

Wespath Holiday Closing—Juneteenth

Wespath will be closed on Wednesday, June 19, in observance of Juneteenth. 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 Benefit Access Portal for Plan Sponsors and Wespath Institutional Investor Portal will be available.

System Outage for Participants—Tonight

Benefits Access for participants will be offline for maintenance June 13 from 7:00 to 9:00 p.m., Central Time. During this system outage, Wespath will perform system maintenance and update the website. We apologize for any inconvenience.

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