Employer Renewal Packets were emailed July 1 and contain your ministry's 2027 health plan options, rates and renewal information. If you haven't reviewed your packet yet, now is the time. If you need another copy, contact your Account Manager.
Check out the Employer Elections hub
The Employer Elections hub is your one-stop resource. You'll find 2027 plan documents, decision guide, deductible information, network map, the Employer PSA Guide, Employer Election webinar recordings and more. Visit ConcordiaPlans.org/ERelections
Sept. 18 is the deadline
All employer health plan and applicable personal spending account elections must be submitted by Sept. 18. If you're planning a change for 2027, start the conversation with your Account Manager today. Timely elections help ensure a smooth enrollment experience for your workers.
Questions? We're here to help.
Whether you're considering plan changes or simply need guidance, your Account Manager is available to help throughout the election process. Contact your Account Manager.
Tell us what you think
After reviewing your emailed renewal packet, please complete our survey. Your feedback helps us improve future renewal communications and resources.
How satisfied were you with your electronic renewal packet?
Understanding the pension withdrawal liability provision
At Concordia Plan Services, our calling is to care for ministries and their workers in a way that supports the long-term stability of our employee benefit plans. As part of walking together in stewardship, we want to explain an important safeguard of the Concordia Retirement Plan pension.
Shared pension, shared responsibility
When ministries participate in the pension plan, they join a community that shares responsibility for providing retirement benefits to LCMS workers over the long term. The pension withdrawal liability provision is designed to protect the plan's funding. If a ministry closes or chooses to leave the pension, it may be required to make a final contribution if the pension plan is not fully funded at that time. This contribution is called withdrawal liability.
A design that protects
Withdrawal liability is calculated using the:
Value of the benefits earned by a ministry's current and former workers.
Pension's funded status at the time the ministry leaves the plan.
Through withdrawal liability, a ministry pays its share of any funding shortfall that may exist and is relieved of future contributions and administrative costs. In other words, ministries that leave the plan remain responsible for their share of the promises made, helping ensure that no additional burden is placed on remaining participating ministries. By including this safeguard, the pension helps preserve fairness, protects workers' benefits and maintains the long-term health of the plan.
Our Fall 403(b) Savings Event encourages workers to prepare for retirement
There are many reasons workers are not saving in the Concordia Retirement Savings Plan 403(b) – from tight budgets to simply not knowing where to start. During our Fall 403(b) Savings Event, we’ll help workers overcome these obstacles and start saving, or save more, so they can build the retirement income they’ll need in the future.
From Sept. 9-25, we’ll encourage your workers to save by:
Providing information and resources by email
Sharing savings tips on social media
Encouraging them to schedule an appointment with a Financial Educator
You can help promote retirement saving by sharing our dedicated saving webpage ConcordiaPlans.org/403(b) with your workers. The 403(b) helps workers prepare for tomorrow, today!
Enroll new workers promptly for cleaner billing
When a new worker is enrolled after a monthly invoice has already been generated, related charges may appear on a future invoice. This can make invoices more difficult to review and reconcile.
To help keep billing as accurate and straightforward as possible, enroll eligible workers as soon as they become eligible for benefits. Timely enrollment helps reduce billing adjustments and makes it easier to understand the charges on your monthly invoice.
If you have questions about enrolling a worker, contact your Account Manager for assistance.
MEMBER PRODUCT SPOTLIGHT:
Supplemental Life Insurance
Additional protection for workers and their families
You care about your workers. If something unexpected happens to any of them, you want them to be able to focus on their family, not worry about their finances. You provide Basic Life insurance through the Concordia Disability and Survivor Plan. That’s a great start — but will it provide enough coverage? Supplemental Life insurance can help fill coverage gaps by providing low-cost term life insurance.
Share this with your team:
Extra financial help in a time of need We know it can be difficult to think about how your loved ones would manage financially if something happened to you, but it’s an important consideration. As your employer, we provide you with Basic Life insurance. But additional life insurance can ease financial hardships during a very difficult time.
You can get additional peace of mind by purchasing Supplemental Life insurance through Concordia Plan Services. It’s great term-life coverage at low group rates.
Visit the Securian Financial website, the benefit provider, to determine if extra coverage is right for you. Visit Securian.
Financial Wellness Corner
Retirement saving options may seem endless, but the Concordia Retirement Savings Plan 403(b) has distinct benefits for LCMS workers. Encourage your workers to build their retirement savings now.
Employers enrolled in the 403(b) can share the benefits below with your team. If you’re interested in offering the 403(b) contact your Account Manager.
Share this with your team:
The Concordia Retirement Savings Plan 403(b) is a great way to build retirement savings.
It's simple. Your savings amount is automatically deducted from your paycheck.
It's flexible. You aren’t locked in – you can update your savings amount anytime.
It's your choice. Decide if you want the tax advantages of saving on a pre-tax and/or Roth after-tax basis. Remember, there are additional tax advantages for Ministers of Religion.
It's reasonably priced. The 403(b) has low administrative and investment fund fees.
It's professionally managed. You’re automatically enrolled in the ProManage PROgram™, which provides professional investment allocation for a small fee — they invest your funds for you. Or with a diverse fund lineup, you can choose your own allocations.
Help your workers build healthy habits for the future
Supporting healthy aging can help workers thrive throughout their careers and into retirement. Encourage your workers to stay active, build strong relationships with their healthcare providers and focus on physical, mental and financial well-being. Small steps today can make a lasting difference tomorrow. Read the Healthy Aging blog and share the guide.
