United Methodist Personal Investment Plan (UMPIP)

An Internal Revenue Code section 403(b) retirement savings plan for clergy and lay employees of The United Methodist Church and affiliated organizations. The plan is designed to provide participants with one element 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.

Eligibility

  • For participant contributions: Must be an employee of a UMPIP plan sponsor
  • For plan sponsor contributions: Must be an employee of a UMPIP plan sponsor and meet other eligibility criteria determined by the plan sponsor and outlined in the adoption agreement

Video: Savings - The Game

Information

UMPIP Webinar Recording


Learn how saving in UMPIP can help prepare you for your financial future. This webinar was recorded July 31, 2019.



Understanding Retirement Plans Video


This video explains the difference between defined benefit (DB) and defined contribution (DC) retirement plans.

 

Hark cover image July 2019

Hark!—July 2019
 

 

Resources

Hark Archive

How to Read Your Account Statement

EY Financial Planning Services

UMPIP—Personal Contributions

Contribution Election Form - formerly the Before-Tax and After-Tax Contributions Agreement

UMPIP Incoming Rollover Form

 
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