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.
The local church is the plan sponsor for the clergy and lay employees of a local church.
Wespath will bill the local churches for their clergy and lay employees participating in the UMPIP.
The following will also provide you with additional information about UMPIP:
To make the administration of the UMPIP as easy as possible, Wespath developed a toolkit with education materials that explain the contribution and remitting process.
The UMPIP Administrative Manual for sponsoring UMPIP for lay employees provides more information about how to begin in the “Adoption Agreement” section.