Some of you may have recently received a solicitation from Charlie Carlton regarding retirement planning. Although I am in complete agreement with the importance of retirement planning, I felt the need to address a few discrepancies that were included in the mailing.
Charlie has sent this communication without any acknowledgement or support from the North Alabama Conference or the Methodist Foundation of North Alabama. In fact, Charlie has been expressly directed not to imply or suggest he is or that those organizations condone his actions.
Every person with pensions invested and administered by Wespath has easy access to helpful and knowledgeable persons at all times. The Wespath representatives are available to help with and answer questions regarding investment allocations and contributions and distributions for all funds provided by Wespath. In addition to Wespath staff, all clergy and their spouses have the opportunity to take advantage of the financial planning expertise provided free of charge by the Ernst and Young Financial Planning Group.
Whether someone decides to leave the denomination or to remain United Methodist, all have equal access to Wespath and Ernst and Young staff who can explain all of the options that are available to all clergy, again at no charge to the participant. Whether someone decides to leave or stay, Wespath can continue to provide investment services for your retirement funds.
The financial markets have, in fact, gone down significantly in 2022 due to rampant inflation, supply chain issues post-Covid, global political unrest, and the war in the Ukraine. Everyone invested in the market has suffered losses this year. Wespath and Ernst and Young can certainly offer thoughts or recommendations to consider regarding your pension funds. However, those that might choose to move out of the market will only lock in the current losses. Most financial advisors would suggest remaining in your long term investments and allow the market to rebound as the economy improves.
All North Alabama clergy with pension investments have relied on the Wespath investment expertise for many years and there is no reason to believe that any one individual has a better opportunity to understand your particular investment situation than the organization that has made its reputation by providing excellent service and outcomes to its clergy customers.
The Methodist Foundation of North Alabama, which is separately incorporated and governed by an independent Board of Directors, also is at your service regardless of your affiliation and would be happy to answer any questions or help direct you to the proper place to address any issues.
Photo by Jasper Garratt on Unsplash
Retirement Planning in the North Alabama Conference