BenefitsPension Plans
Peter Hang from Wespath explains benefits information to Dakotas Conference clergy gathered in Bismarck, ND.
The Dakotas Board of Pensions and Health exist to support and provide access to sustainable retirement for clergy who are and have served in the Dakotas.
- Patient Information Release
- UMPIP Contribution Election Form
- Wespath - Direct Deposit Authorization
- Wespath Benefits Access
CLERGY RETIREMENT SECURITY PROGRAM (CRSP)
The Clergy Retirement Security Program (CRSP) is the pension program for all eligible United Methodist Clergy. CRSP offers a two component benefit design:
- Defined Benefit – Promises a specific dollar amount at retirement regardless of market conditions or investment performance. The amount is based on a formula that specifies a monthly retirement benefit to eligible clergy for the remainder of their lives.
- Defined Contribution – Promises a defined amount that is deposited into an active clergyperson’s account with monthly deposits. This benefit distributed at retirement is the accumulated amount plus earnings (losses) in the individual’s account.
- The cost of participation in CRSP is direct billed to the local church for the two components (Defined Benefit and Defined Contribution).
UNITED METHODIST PERSONAL INVESTMENT PLAN (UMPIP)
All Full Time clergy appointed to a church or conference connection and enrolled in CRSP & CPP will receive an "Employer Contribution" set each year at Annual Conference (3% of Denominational Average Compensation). Clergy appointed 3/4 time and 1/2 time will receive prorated contribution as well effective 1/1/2020. This contribution will be direct billed from the conference office.
The pastor's Personal Investment Plan (UMPIP) is withheld from his/her salary. Beginning 2018 all appointed pastors and lay employees will be automatically enrolled at 3% of compensation plus housing. If participants are already contributing above that 3% then their contributions will not change until they complete the necessary paperwork to make that change. Participant's may "Opt Out" of auto enrollment by contacting the conference Benefits Office to complete the necessary paperwork. Beginning 2018 these contributions will be direct bill from the conference office.
COMPREHENSIVE PROTECTION PLAN (CPP)
CPP is a death and disability policy for clergy and is direct billed to the local church. CPP provides several benefits for eligible active clergy, retired clergy, their families and survivors.
This includes:
- Disability benefits for clergy who are not able to perform full-time work as clergy for medical or behavioral health reasons.
- Death benefits of lump-sum payments upon death of a clergy, spouse, surviving spouse or dependent child.
Mandatory that CPP participation will cover all full time, three quarter time ordained or in the process of becoming clergy member, clergy on sabbatical, local pastors and members of other denominations (provided they are not covered under another denomination's benefits).
