The Church Pension Group (CPG) has just launched a survey to examine how well prepared lay employees of the Episcopal Church are for retirement. The confidential online survey was distributed to approximately 8,000 individuals enrolled in the Lay Pension System that is administered by CPG. To encourage participation, CPG will contribute $5.00 to Episcopal Relief & Development for every completed survey up to $12,000.
“There is more we want to learn about how lay employees are preparing for retirement. This survey will help us develop a holistic picture of the retirement readiness of lay employees and will help us better understand their overall financial well-being,” said Dr. Matthew Price, Senior Vice President, Research & Data at CPG. “The survey results will inform the programs and tools we make available to lay employees to help them prepare for retirement.”
CPG has already undertaken a comprehensive review of clergy deployment trends, which informed its recent decision to revise The Church Pension Fund Clergy Pension Plan. Dr. Price hosted a webinar to discuss the findings.
“As we work on implementing the Clergy Pension Plan revisions, we look forward to continuing to understand our clients’ needs by taking a deep dive into lay employee retirement readiness,” continued Dr. Price. “CPG is committed to helping lay employees prepare for retirement, and understanding their needs and mindsets is an important step.”