Ministerial Pension Plan
Plan Administered by Wespath
The Ministerial Pension Plan (MPP) is a 403(b) retirement plan administered by Wespath. The plan provides benefits to eligible United Methodist Church clergy with service from 1982 through 2006. MPP was closed at the end of 2006 and was replaced by CRSP on January 1, 2007. The accounts of clergy who participated in MPP continue to be invested, and benefits are available at retirement or at age 62 for terminated clergy.
Upon retirement, 65% of the participant’s account balance can be annuitized, and the remaining 35% becomes a lump sum account balance which can be enrolled over into another qualified plan or individual retirement account(IRA), or the lump sum can be paid as a cash payout to the retiree.
Details pertaining to the MPP can be found within the Clergy Retirement Security Program Summary Plan Description.