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

August 8, 2024 | Vol. XXIII, Issue 35

Removal of Moving Expenses Field in Benefits Access for Plan Sponsors

As mentioned in the May 22 On Board Express, moving expenses are no longer included in the definition of “plan compensation“ for the Clergy Retirement Security Program (CRSP) and Comprehensive Protection Plan (CPP). General Conference passed a petition removing moving expenses and other one-time payments that are not part of the clergyperson's annual base wages or salary from the calculation for ongoing contributions—effective January 1, 2024.

Benefits Access for Plan Sponsors will be updated to remove the moving expense field at the close of business August 15, 2024.

Wespath Early Closing—Friday, August 9

Wespath will close at 11:00 a.m., Central time, on Friday, August 9 for an employee event. Customer Service assistance will not be available after that time until normal business hours resume Monday, August 12.

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.

If an urgent situation arises on Friday between 11:00 a.m. and 2:00 p.m., please call 1‑847‑866‑4683 and provide your contact information. A Wespath representative will contact you within 30 minutes.

July Markets at a Glance Video

While markets had a tough start to the week, our Markets at a Glance video for July details renewed investor interest in small- and mid-cap stocks. Wespath's Connie Christian also provided an update on inflation and the labor market from July—two themes that will likely continue to influence how markets react throughout August.

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