We continue to hear from clergy that they do not feel adequately informed about the new pension coming in January of 2026 called Compass.
The first thing to say is that it has no effect on retired clergy. However, if you’re an active clergy person, this will become your new pension. The main change from CRSP to Compass is the loss of a defined benefit element to the United Methodist pension. Any service years you have in CRSP will still be paid as a defined benefit upon retirement, but with Compass, there will be no continued accrual of a defined benefit. Compass is strictly a defined contribution pension (like a 401K).
By the time you read this, you will have had the opportunity to hear Wespath speak about Compass both at the Clergy Session of Annual Conference and during the Plenary session. Hopefully, this means you feel more informed.
If you’re still looking for information, please visit the Compass website. Additionally, mark Tuesday, July 22 at 2 PM on your calendar for a webinar on Compass presented by Joel Walther, Director of Conference Benefits & Coordinator of Human Resources. To register for this webinar, click here.
Of particular interest to all the clergy in Michigan is the fact that the Conference Board of Pension & Health Benefits (CBOPHB) has set the Compass automatic escalation rate at 2% per year and the contribution cap at 12%. While Compass proposed those figures to be 1% and 10%, the CBOPHB recognized that Wespath’s projections assumed a participant would have a full 40 years of service before retirement. Therefore, the CBOPHB believed it important to make those numbers more aggressive to provide adequate retirement benefits for the clergy of the Michigan Conference.
If all of this still feels overwhelming, please register for the webinar. You are also always welcome to reach out to our office with questions.
Last Updated on June 5, 2025