403(b) retirement plan
The Pre-82 is a 403(b) retirement plan administered by Wespath that provides benefits to eligible United Methodist Church clergy with service before 1982. The Pre-82 plan was closed on December 31, 1981, and was replaced by the Ministerial Pension Plan (MPP) effective January 1, 1982. Participants who were vested in the plan before 1982 are eligible to receive benefits at retirement or at age 62 for terminated clergy.
The Pre-82 Plan provides a monthly lifetime benefit based on a retiree’s years of service prior to 1982. The plan’s Past Service Rate(“PSR”) is a factor in the benefit formula. VUMPI may recommend increases to the PSR for approval at Annual Conference. In 2023, the PSR is $600.
Details pertaining to the Pre-82 plan can be found within the Clergy Retirement Security Program Summary Plan Description.