Know Your Formula

United Methodist Personal Investment Plan (UMPIP) plan sponsors may offer one, or a combination, of the following types of plan sponsor/employer contributions to participants.

Matching
Your plan sponsor contributes a percentage of your contributions up to a percentage of your compensation.

  • Example 1: Your plan sponsor contributes 100% of your contributions up to 2% of compensation, which is a dollar-for-dollar match.
    • If you contribute 2% to UMPIP, your plan sponsor contributes 2%.
    • If you contribute 1%, your plan sponsor contributes 1%, which means you miss out on an additional 1%.
  • Example 2: Your plan sponsor contributes 50% of your contributions up to 2% of compensation.
    • If you contribute 2% to UMPIP, your plan sponsor contributes 1%
    • If you contribute 4%, your plan sponsor contributes 2% (the maximum you can earn)

Conditional
Your plan sponsor contributes a percentage of your compensation if you contribute a minimum amount.

  • Example: Your plan sponsor contributes 6% of your compensation if you contribute at least 3% of your compensation.
    • If you contribute 3%, your plan sponsor contributes 6%.
    • If you contribute any amount less than 3%, your plan sponsor contributes 0%.

Discretionary
Your plan sponsor may choose to make a contribution to your retirement account at the end of the plan year, but the contribution is not guaranteed.

Non-matching
Even if you contribute nothing to your retirement account, your plan sponsor contributes a certain percentage of your compensation.

Keep in mind your formula may be different from the examples presented above. To determine what benefits are available to you, visit Benefits Access—log in and go to My Benefits > Retirement Benefits > Contributions.

Clergy Retirement Security Program (CRSP) participants—If you contribute to UMPIP, the Church matches 100% of your contributions (up to 1% of your plan compensation) and deposits those matching funds into your CRSP DC account.

Retirement Plan for General Agencies (RPGA) participants—If you contribute to UMPIP, your employer matches 100% of your contributions (up to 2% of your compensation)—and deposits those matching funds into your RPGA account.

 

 
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