Open Enrollment for 2014
Be sure you have the right medical coverage for you and your family next year. Clergy have a new four-tier rate structure starting January 1, 2014 which allows you to select the coverage and rate appropriate for your family’s needs. Participation in Group Health by all eligible clergy (clergy with 75% and 100% appointments) is still a requirement of the covenant relationship of clergy within the Texas Annual Conference.
Open Enrollment Packets are being mailed to your home address the end of October. The Open Enrollment period is November 1 to November 15, 2013. To make sure you have the coverage you want, all employee participants in Group Health need to complete the enrollment form found in your packet and return it to the TAC Benefits Office by November 15, 2013. All changes in coverage will be effective January 1, 2014. After Open Enrollment ends, you will not be able to make any changes to your plan elections until 2015.
What’s Changing in your Pension for 2014?
Make sure you don’t miss out on the new 1% match for clergy next year. To offset new reductions in the Clergy Retirement Security Program (CRSP), starting January 1, 2014, clergy will have the opportunity to earn up to an additional 1% CRSP DC matching contribution by making personal contributions into your United Methodist Personal Investment Plan (UMPIP). The match will be $1 for every $1 you contribute up to a maximum of 1% of your pension plan compensation.
Your United Methodist Personal Investment Plan (UMPIP)
It’s easy to get so caught up in our work, focusing on others and enjoying life today that we forget about retirement. Especially when we’re young, retirement seems so far off, we sometimes say, “I’ll get to that later.” But “later” has a way of sneaking up on us!