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The last decade or so before you reach retirement age can be especially crucial in terms of saving for retirement. You might already have a good idea about when and where you want to retire, but you aren’t sure about the financial implications. Whenever you’re planning to retire, having enough money saved is important for your financial and psychological well-being. Most importantly, If you are still in your 50s, you can still adjust how you are saving for retirement.

Knowledge is power

Wespath offers tools to preview your financial future at your fingertips on Benefits Access. You can use the Retirement Benefits Projection tool to input possible benefit elections and get a closer look at your potential retirement outcomes. Simply log in to benefitsaccess.org, then “Retirement” and choose “Retirement Benefits Projection.” If you want to change your contributions to UMPIP, download this contribution form, complete it and send it to your employer.

Make retirement savings a priority

The adage “pay yourself first” might have been about saving in general, but it’s really important in terms of retirement savings. Participating in UMPIP is an easy way to put yourself first for a more financially sound future.

Your contributions are automatically deducted from your paycheck and deposited into your UMPIP account.
You have the option to change your contribution amount or percentage at any time.
If your employer/plan sponsor offers a matching contribution based on the amount you save, this is extra ‘free’ money for your future!

EY Financial Planning Services can help

We encourage you to work with an EY planner to develop a retirement savings plan that works for you. They can help you address many of the perceived roadblocks to saving for retirement—such as debt or budgeting issues—and plan for a brighter financial future. Confidential, objective assistance from EY is available by calling 1-800-360-2539 or visiting wespath.eynavigate.com.

At this hour-long webinar, you’ll learn about the different ways you can take advantage of UMPIP to save for retirement. You’ll also hear about the different contribution types available, the tax advantages involved, how you can roll over prior retirement accounts to UMPIP, and the Wespath investment funds available.

Wespath will hold its quarterly UMPIP webinar on
Wednesday, June 22, from 1:00-2:00 p.m., Central time.

CLICK HERE TO REGISTER

a general agency of The United Methodist Church

wespath.org