Online Retirement Readiness Tool
Use the online Retirement Readiness Tool to customize your projection—visit benefitsaccess.org. From the Retirement details page select "Learn > Retirement Readiness."
The Retirement Readiness Tool helps estimate:
- Your projected retirement income
- Your projected retirement income needs
- Your projected retirement income gap or surplus
Important Considerations
As you use the Retirement Readiness Tool, consider the following factors that could impact your projection:
- Compensation—If your compensation is not listed, you will be prompted to enter it. If your compensation is inaccurate, be sure to change it before customizing your projection.
- Other sources of retirement income—Retirement accounts (e.g., IRAs, brokerage accounts, savings accounts) and defined benefits (pensions) that are not administered by Wespath are not included in this projection. You can enter the value of those accounts in the box at the top of the second page.
- Social Security—The projected Social Security benefit reflected in the tool is only a rough estimate. If you were unemployed for some time, had large increases or decreases in compensation over short periods of time or waived Social Security, the assumed Social Security benefit reflected in the tool could be significantly overstated.
- Your family situation—The tool doesn’t account for spousal income or benefits.
Adjust Your Projection
The Retirement Readiness Tool allows you to personalize your retirement income projections. You can move interactive sliders within the tool to adjust:
- Housing and health care costs
- Discretionary expenses
- Retirement age
- Personal contributions toward retirement (e.g., UMPIP or Horizon)
- Investment risk tolerance
Get Easy Guidance
EY Financial Planning Services is available at no additional cost to you1 to address any financial or retirement planning questions you may have. EY financial planners have special training in topics important to participants, including Wespath-administered plans and programs and the clergy housing allowance. To speak with a financial planner, call EY directly at 1-800-360-2539 business days between 8:00 a.m. and 7:00 p.m., Central time or visit https://wespath.eynavigate.com.
1 Costs for these services are included in Wespath’s operating expenses that are paid for by the funds. Services are available to active participants and surviving spouses with account balances, and to retired and terminated participants with account balances of at least $10,000.