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Wespath Benefits and Investments (formerly known as General Board of Pension and Health Benefits) is a non-profit pension agency affiliated with the United Methodist Church. Wespath supervises and administers retirement plans, investment funds, health and welfare benefit plans,etc for active and retired clergy and lay employees of the Church.
A church plan is a retirement plan established and maintained by a tax-exempt church, a convention of churches, or an association of churches for its employees. [7] [8] Church plans are not subject to the Employee Retirement Income Security Act of 1974 (ERISA) unless it voluntarily makes an irrevocable election to be subject to ERISA.
Retirement plans in the United States. Average balances of retirement accounts, for households having such accounts, exceed median net worth across all age groups. For those 65 and over, 11.6% of retirement accounts have balances of at least $1 million, more than twice that of the $407,581 average (shown). Those 65 and over have a median net ...
Like its better-known sibling — the 401(k) — a 457(b) retirement plan is a tax-advantaged way to save for retirement. But the 457(b) is designed especially for employees of state and local ...
Unlike traditional pension plans, in which the employer promises a specified monthly benefit at retirement, 401 (k) plans are funded by contributions deducted directly from the employee’s ...
A SIMPLE IRA makes a great option for a small business to set up a retirement plan for its employees, with less hassle and expense than a typical 401 (k) plan, and employees can benefit from the ...
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