1. Navigating Your Benefit Plans for Smooth Sailing
Iowa Annual Conference
June 10, 2017
Presented by: Joni Mardesen, Dir HR/CBO

2. Overview Retirement and Life/LTD Plans Wespath Services
CRSP
UMPIP
CPP
Wespath Services
Health and Reimbursement Plans
High Deductible Health Plan
HSA/HRA/FSA

3. Wespath Retirement Plans
CRSP
2014+ CRSP
UMPIP
CRSP
Ministerial Pension Plan (MPP)
CRSP: Clergy Retirement Security Program
UMPIP: United Methodist Pension Plan
Pre-82 Plan (Ministerial Reserve Pension Fund)

4. Clergy Retirement Security Program
Defined Benefit (DB)
Defined Contribution (DC)

5. CRSP: DC Component CRSP DC 2% Non-match 1% Match* 3% Non-match
Effective January 1, 2007 thru December 31, 2013 contribution equal to 3% annually based on
plan compensation
CRSP DC
3% Non-match
2% Non-match
1% Match*
Effective January 1, 2014
2% contribution plus 1% match if participant contributes at least 1% to UMPIP
* 100% of UMPIP contributions up to 1% of compensation

6. CRSP: DC Component
Monthly benefits at retirement will depend on several factors including:
Future investment return
Continued personal contributions
Annuity rate at retirement

7. 11/23/2017
CRSP: DB Component
Monthly payment is calculated at time of retirement, payable for life:
For years 2007 thru 2013, the monthly benefit is calculated as:
1.25% x DAC at retirement x years of service in this plan)/12
For years 2014 and later, the monthly benefit is calculated as:
1.00% x DAC at retirement x years of service in this plan)/12

8. United Methodist Personal Investment Plan
Before-tax contributions
After-tax contributions
Roth contributions (after-tax)
Rollovers, including:
401(a)
401(k)
403(b)
IRA (traditional)
457 (b) plans may also be rolled over- these are government plans for most employees

9. Wespath Retirement Plans
CRSP
2014+ CRSP
UMPIP
CRSP
Ministerial Pension Plan (MPP)
Pre-82 Plan (Ministerial Reserve Pension Fund)
CRSP: Clergy Retirement Security Program
UMPIP: United Methodist Pension Plan

10. DAC and CAC 2017 DAC: $68,876 2017 Iowa CAC: $66,229
Denominational Average Compensation (DAC):
Average plan compensation of United Methodist clergy serving full-time appointments
2017 DAC: $68,876
Conference Average Compensation (CAC):
2017 Iowa CAC: $66,229

11. Comprehensive Protection Plan (CPP)
Death and Disability Benefits

12. CPP Active and Retiree Death Benefits
Benefits Schedule in 2017 for:
Active Clergy
$50,000
Active Clergy Spouse
$13,775
Retired before 1/1/13
Retired after
1/1/13
Retired Clergy
30% of DAC
$20,400
Retired Clergy Spouse
20% of DAC
$15,300
Retired Clergy Surviving Spouse
15% of DAC
$10,200
Retiree benefit changes are in GC petitions

13. CPP Disability Benefits
70% of pre-disability plan compensation
Offers a return-to-work program
Wespath partners with Liberty Mutual to administer the plan
Full Benefit vs. early retirement

14. Wespath Services - Benefits Access
Find current account information
Tools
Retirement Readiness Tool
Retirement Benefits Projection
Investment information
Beneficiary designations
Resources on finances and retirement

15. Wespath Services- LifeStage Investment Management
Personalized investment management tool
Variables affecting fund allocations:
Participant’s age
Risk tolerance
The LifeStage Investment Management Service that will invest the participant’s account balance according to his or her personal risk tolerance and time horizon to retirement. Participants have the option to change risk tolerance and date of expected retirement

16. Wespath Services – EY Financial Planning Services
No need to enroll –
just call

17. Health Plan – Wellmark BC/BS
High deductible health plan
Deductible
$3,000 single/$6,000 family
Out-of Pocket Maximum

18. Savings/Reimbursement Accounts
Health Savings Account – pre-tax contributions used to pay out-of-pocket expenses
Contribution limit determined annually by the IRS
2017 HSA Limits:
Single - $3,400 + $1,000 for participants age 55+
Family - $6,750 + $1,000 for participants age 55+
Funds roll over from year-to-year

19. Savings/Reimbursement Accounts
Health Reimbursement Account – only employer contributions allowed, covers out-of-pocket expenses
Required to enroll in an HRA when covered by another health plan or age 65 and older
Funds roll over from year-to-year

20. Flexible Spending Accounts
Flexible Spending Account – pre-tax contributions that can be set aside for one plan year to pay for out-of-pocket expenses – ‘use it or lose it’ – limited to personal contributions of $2,600 in 2017
FSA type depends on HSA or HRA participation
Limited Purpose (vision/dental) with HSA
Regular Medical (medical, vision, dental) with HRA
Dependent Care – maximum contribution is $5,00

21. What happens when I Turn 65?
If actively serving the Iowa Conference and at least ¾ time, you continue on the active health plan
At the beginning of the month you turn 65, you are no longer eligible to participate in the HSA. Conference dollars continue through an HRA administered by Kabel Business Services
You may still use dollars in your HSA for qualified medical expenses
Signing up for Medicare Part A and Part B is an option for you – contact your local SHIIP office:

23. Questions?
Joni Mardesen, Dir HR/CBO Linda Remster, HR/Benefit Coordinator