Rates

The rates shown on this page are charged to WELS sponsoring organizations on behalf of their eligible workers to fund the following:

• Synod Allocations and Synod Age-Based Allocations deposited in workers’ Shepherd Plan accounts;
• Pension Plan benefits earned by workers before the plan freeze on December 31, 2021; and
• Administrative expenses for both the Shepherd and Pension Plans.

The WELS Retirement Program Commission will carefully review the rates each year to determine if a change is appropriate based on many factors, including potential changes to Synod Allocation amounts provided to workers and the Pension Plan’s financial position.

Ultimately, the goal is to reduce the rates to only the level needed to fund Synod Allocation amounts plus the plans’ administrative expenses. The lower cost level may be feasible after the Pension Plan’s financial position has improved.