If you think it’s too late to build your retirement savings, think again!

Here’s why now is the right time to contribute to the United Methodist Personal Investment Plan (UMPIP), a 403 (b) retirement savings plan:

Contributions to UMPIP can be made on a pre-tax basis, meaning the amount you contribute is deducted from your income before taxes are withheld. As a result, you can keep more of your 2023 income.

Over time, even small contributions such as 1% of your salary can grow due to the power of compounding. The sooner you start contributing, the more time your money has to grow.

Begin or increase your UMPIP contributions by contacting your employer or plan sponsor – or simply download and complete this form and follow the instructions. Plus, you could double your savings if your employer or plan sponsors provides matching contributions!

Want to find out how making contributions could impact your current spending and future savings? Schedule a conversation with EY Financial Planning Services to learn more. Confidential, objective assistance from EY is available at no additional cost* by calling 1-800-360-2539 or visiting wespath.eynavigate.com.

* EY Financial Planning Services are available to active Wespath participants and surviving spouses with account balances, and to retired and terminated participants with account balances of at least $10,000. Costs are included in Wespath’s operating expenses that are paid for by the funds.