In 2025, we are making adjustments to the Concordia Retirement Plan (CRP) pension and the Concordia Health Plan (CHP) to sustain our Plans for everyone we serve.
State of the Concordia Plans: Supporting LCMS ministries in a changing world
The world is very different than it was a few years ago. That’s why we continuously monitor the factors that impact the Concordia Plans and adjust to ensure their sustainability and – most importantly – to help your ministries thrive and workers live well.
In 2025, we are making adjustments to the Concordia Retirement Plan (CRP) pension and the Concordia Health Plan (CHP) to sustain our Plans for everyone we serve. Specifically:
2025 CRP adjustment: The rate for the Traditional Option will increase by 1% of compensation each year for the next three years (2025, 2026 and 2027).
2025 CHP adjustment: Millions of dollars saved from renegotiated contracts and consolidated health plan options will equate to the average CHP 2025 rate decreasing 3%.
In the "2024 State of the Concordia Plans" report we detail the “why” behind these 2025 changes, the factors impacting the Concordia Plans today and how our team is navigating them to sustain the plans for everyone we serve.
Members of the CPS Executive Team are traveling to multiple locations across the country to host in-person Town Halls to discuss the "State of the Concordia Plans" and answer your questions; you can view the schedule on our website. If you can’t attend in person, we will post a recording of a Town Hall in the coming weeks.
Last year we introduced a new report that shares information about how we manage the contributions entrusted to us that provide benefits through the Concordia Plans. The 2024 report is out now and provides a closer look at how we diligently work to manage the investments and assets of the Plans, carefully monitor healthcare costs, and think ahead to serve workers now and into their retirement. We’re proud to share our expertise with LCMS ministries in service of their workers.
2025 Renewal Notices will be mailed in batches starting June 17.
2025 Employer Benefits Election is Sept. 2 – Sept. 13.
2025 Member Open Enrollment is Nov. 4 – Nov. 15.
REMINDER: Personal spending accounts information for Further customers
If your ministry currently uses Further for personal spending accounts, we want to inform you that the grace period for migration to HealthEquity will end at the close of this calendar year due to the Further portal sunsetting in early 2025. HealthEquity has developed a comprehensive communication plan to ensure you and your members are sent timely and relevant information throughout the migration process. As indicated last month, specific resources tailored for Concordia Plans are available and can be found through the Concordia Plans Employer Microsite.There you can find guides, webinars and FAQs to learn more about this transition. Together with HealthEquity, we are committed to making this migration as smooth as possible for both you and your workers.
MEMBER PRODUCT SPOTLIGHT Critical Illness and Accidental Injury Insurance
You may be wondering, “if my workers have CHP health care, why do they need Critical Illness and Accidental Injury insurance, too?” We’re glad you asked.
Critical Illness Insurance and Accidental Injury Insurance were created to provide a “safety net” for workers and their families by providing income to cover expenses that go beyond what is included with their health plan coverage. It gives your workers the opportunity to protect their savings if something unexpected happens, allowing them to focus on their health, instead of how they’re going to cover costs.
Critical Illness Insurance pays a lump-sum benefit when a worker (or enrolled family member) is diagnosed with a covered condition. These funds help with nonmedical expenses such as transportation, meals and childcare during a critical medical situation.
Accidental Injury Insurance can help with the out-of-pocket expenses an injury can cause, easing the impact it can have on your workers' finances. It pays a benefit directly to the worker (or enrolled family member) for certain accidents that require medical treatment.
The premiums for these insurance programs are paid in full by the worker; all you need to do is collect the premiums through payroll deduction. If you’re interested in offering these insurance solutions to your workers, please contact your Account Manager.
Financial Wellness Corner
Summer is a great time to encourage your workers (especially teachers) to check some things off their financial wellness to-do list! We’ve made it easy by creating this sample check list you can share. Bonus: the list identifies Vitality-eligible activities for members of the Concordia Health Plan, so they can turn their progress into reward dollars!
Upcoming member communications
Here’s a snapshot of the emails we’ll send your workers this month (they may also receive additional communications from our vendors):
Worker Wellness Webinar
Our “Pension & The CRP” webinar is June 20 at 10 a.m. CT. This is always a favorite and a great opportunity for your workers to better understand the value of the CRP pension benefits you’re providing them.
Mental Health
Even though Mental Health Month is over, your workers can take action to improve their mental health every day. This month workers can expect an Evernorth Confide email with information about how they can benefit from this new concierge-level mental health navigation service.
Mental Health Survey
Members are invited to participate in a survey so we can better understand their needs around mental health.
Wondr Class 3
Workers enrolled in the CHP are invited to apply for Wondr Class 3 between June 3-24. The program begins July 1.
