The United Methodist Personal Investment Plan (UMPIP) provides a retirement savings plan for eligible clergy and employees of The United Methodist Church and affiliated organizations. It is administered by Wespath (formally the General Board of Pension and Health Benefits). The plan is designed to provide participants with one piece of their overall retirement portfolio.
UMPIP is a defined contribution (DC) retirement plan. Participants can make before-tax, Roth and/or after-tax contributions through payroll deductions. Personal contributions, plan sponsor contributions made on a participant’s behalf and investment earnings comprise the retirement account balance. Participants can invest their accounts among Wespath Benefits and Investments' funds or use the LifeStage Investment Management Service to manage the investment of their accounts.
Who is Eligible?
You are eligible to participate in UMPIP if you are an employee of a UMPIP plan sponsor and you meet certain eligibility requirements noted on the UMPIP adoption agreement. Your plan sponsor will offer you an opportunity to enroll once you are eligible to participate.
Who is Plan Sponsor?
The Great Plains Conference is the plan sponsor for the clergy and lay employees of the Great Plains Conference staff.
January 1, 2020 the Great Plains Conference will be the plan sponsor for the clergy at the local church. The Great Plains Conference will bill the local church the appropriate UMPIP withholding that the clergy elects on their compensation worksheet and Contribution Form.