CPS Program for Intentional Interim Pastors December 11, 2018

Today’s Discussion How does the new program for IIP’s impact you with respect to the: Concordia Retirement Plan Concordia Disability and Survivor Plan Concordia Health Plan

Concordia Retirement Plan (CRP) Providing income during retirement - a defined benefit plan also referred to as a traditional pension. One in three Americans has nothing saved for retirement 56% of Americans Have Less Than $10,000 Saved for Retirement Most Americans are falling short of the amount of savings required for a comfortable retirement ― if they are saving at all. This lack of savings indicates that just getting started on retirement planning is a significant obstacle for many people. 

IIP: Concordia Retirement Plan (CRP) If < 65 yrs. old and working > 20 hrs/week as an IIP: Pastor will be enrolled in the CRP Assigned congregation pays required contributions NOTE: If IIP already receiving CRP benefit, Primary Retirement Benefit payments will be stopped. If applicable, Supplemental Retirement Account monthly payments will continue. If applicable, Retiree Medical Supplement monthly payments will continue. Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

IIP: Concordia Retirement Plan (CRP) Part II (If IIP < 65 yrs. old and working > 20 hours/week as an IIP): When assignment ends, If 55 or over (i.e., 55-64), may elect to commence (or recommence) retirement benefits (not recommended) If pension payments don’t start when assignment ends IIP receives Creditable Service under CRP between assignments up to 3 months. Required contributions to CRP waived for period between assignments in which service is credited. Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

IIP: Concordia Retirement Plan (CRP) (If IIP is 65+ yrs. old and working > 20 hours/week as an IIP): Regular pension payments stop, but IIP may elect to begin In-Service Benefits. Assigned congregation pays required contributions OR IIP can waive CRP re-enrollment* and pension payments will continue. * If waived CRP, ineligible to enroll in CDSP or CHP. Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

IIP: Concordia Retirement Plan (CRP) Part II (If IIP is 65+ yrs. old and working > 20 hours/week as an IIP): When assignment ends, In-Service benefits will stop. May elect to commence (or recommence) retirement benefits If pension payments don’t start when assignment ends IIP receives Creditable Service under CRP between assignments up to 3 months. Required contributions to CRP waived for period between assignments in which service is credited. Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

Concordia Disability and Survivor Plan Supporting you and your family during pregnancy, injury, illness and loss What is your most valuable asset?  Your home?  Your Car?  Your Health?  For most us, it is our income. Your income pays for both the big things in life – the mortgage, car, food, utilities, vacations – and life’s little things – children’s activities, movie tickets and cell phones.  Most of us have insurance to protect our home, car and health, but we ignore the most important asset which needs to be protected– OUR INCOME. Without your income, you cannot afford any of your basic needs. And that is why your employer provides this vital benefit.

IIP: Concordia Disability and Survivor Plan (CDSP) If IIP is enrolled in the CRP (either under or over 65 and working > 20 hours/week as an IIP): Enrolled in the CDSP with congregation to which assigned paying required contributions. When assignment ends, IIP’s coverage under the CDSP will be extended up to three (3) months* UNLESS he completely retires. Disability coverage will continue through extension period even if IIP is not actively working. NOTE: Required contributions to the CDSP are waived between assignments. * Three-month period commences at the end of last calendar month for which employer paid CRP contributions. Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

Concordia Health Plan Covers you during times of sickness and also provides wellness resources

IIM: Concordia Health Plan (CHP) What are your CHP options? A. If IIP < 65 years old: May elect CHP coverage (if in CRP) Healthy Me B is designated CHP option for IIP’s that features a broad provider network (plan design provided on later slide). *NOTE: If spouse is <65, she could also enroll in Healthy Me B ----even if husband waives any coverage Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

IIM: Concordia Health Plan (CHP) What are your CHP options? B. If IIP is 65+ years old: May elect CHP coverage (if in CRP) Healthy Me B (designated CHP option for IIP’s featuring a broad provider network) OR Medicare Premium Plus (MPP)* If applicable (Employer has to have < 20 total workers) If IIP and spouse are both 65+ and IIP elects Self & Spouse coverage, they both will need to be in same plan. *NOTE: If spouse is <65, she can enroll in Healthy Me B ----even if husband waives any coverage Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

IIM: Concordia Health Plan (CHP) When an IIP’s assignment ends: If IIP was covered under the CHP during assignment, CHP coverage can be extended for up to three months with required contributions waived. If 65+, coverage would end after the 3 months. If < 65 may extend CHP coverage by making required contributions. However, if spouse is 65+ coverage is limited to Medicare Supplement plans. Many resources are also available online at CignaBehavioral.com (Need the password: lcms)

Healthy Me B Medical Benefits – Administered by BCBS-MN Network Cost   Network Cost Non-Network Cost Individual Deductible Maximum $1,400 $4,200 Family Deductible Maximum $2,800 $8,400 Individual Out-of-Pocket Maximum Family Out-of-Pocket Maximum $5,600 $16,800 Coinsurance 20% 40% Individual Coinsurance Maximum N/A Family Coinsurance Maximum Preventive Care No charge Not covered Office Visit: Primary 20% coinsurance after deductible 40% coinsurance after deductible Office Visit: Specialist

Benefit Waiting Period/Late Entrant Penalties Dental A Dental Benefits – Administered by Cigna Dental Annual Deductible   Network Cost Non-Network Cost Individual Deductible Maximum Individual: $50 Family Deductible Maximum Family: $150 Annual Maximum per Person $1,500 $1,000 Progressive Maximum Benefit Obtain 1 Preventive Exam in prior year $300 added to Annual Maximum up to 3 times Year 2: $1,800 Year 3: $2,100 Year 4: $2,400 Year 2: $1,300 Year 3: $1,600 Year 4: $1,900 Benefit Waiting Period/Late Entrant Penalties BWP/LEP BWP LEP Preventive Care None 6 Months Basic Care 12 Months

Basic, Major and Orthodontics Dental A (Cont.) Dental Benefits – Administered by Cigna Dental Basic, Major and Orthodontics   Network Cost Non-Network Cost Preventive Care X-rays, Exams, Cleanings, Sealants 0% Basic Care Extractions, Amalgams, Restorations, Endodontics, Periodontics, Anesthetics 10% 20% Major Care Crowns, Bridges, Implants, Dentures, Oral Surgery 40% 50% Orthodontic Care 50% ($1,000 lifetime maximum/individual)

Vision A Vision Benefits – Administered by VSP Routine Exam   Network Cost Non-Network Cost Allowance $10 copay up to $45 Frequency One exam/calendar year Lenses Single/Bifocal/Trifocal/Leticular $25 copay $30/$50/$65/$100 Once/calendar year Progressive Lenses Average 20%-25% off or Member may elect covered in full when they choose Progressives as their enhanced eyewear option N/A Polycarbonate Lenses for Children Covered in Full

Non-Network Cost Allowance Vision A (Cont.) Vision Benefits – Administered by VSP Frames   Network Cost Non-Network Cost Allowance Retail Frame Allowance $150 or Member may increase allowance to $250 when they choose frame as their enhanced eyewear option $70 Frequency Once/calendar year Contact Lenses Medically Necessary $25 copay $210 allowance Elective $200 allowance $105 allowance

Concordia Retirement Savings Plan – CRSP 403(b) Providing flexible savings options to provide retirement security Your employer participates in the Concordia Retirement Savings Plan, sometimes referred to as “the crisp”, a program designed to allow you to save personally in order to increase your income in retirement. Personal savings increase opportunities in retirement, including being able to maintain your standard of living throughout your retirement years and increasing the options you have for living out your retirement.

Concordia Retirement Saving Plan-CRSP 403 (b) Employer-sponsored, 403(b) savings plan Tax savings on two options: Pre-tax 403b NOTE: For ministers of religion, pre-tax contributions are both pre-income tax and pre-self employment tax After-tax Roth 403b Offers ProManage asset custom-allocation services Automatically deducted from paycheck Your employer may provide a matching contribution, but it is not required. Workers can contribute on a pre-tax basis, after-tax Roth basis, or a combination of both Pre-tax Option: Money comes out of a worker’s check on a pre-tax basis For self-employed ministers of religion, contributions come out before SECA taxes Earnings are also free from taxation until withdrawn by the investor Roth Option: After-tax contributions Contributions may be tax-free upon distribution

QUESTIONS Let’s see what questions have come in and see if we can answer a few right now. We want to be courteous of your time and no that it is valuable, so please feel free to send an e-mail to us personally if you need to leave the webinar. Thank you so much for attending.

Thank you Please Contact Us with any Questions: Customer Care Team info@ConcordiaPlans.org 888-927-7526 David Henrichs Account Manager Dave.henrichs@concordiaplans.org 314-885-6874 We know your time is important and we appreciate that you have shared your time with us today. I’m happy to answer your questions. (Office hours 7:00 – 5:00 Central Time) General email: info@concordiaplans.org