Church Pension Group (CPG) has launched a survey to examine lay employees’ preparedness for their retirement.
CPG has distributed the confidential online survey to approximately 8,000 individuals enrolled in the Lay Pension System that it administers. CPG will contribute $5 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,” said Matthew Price, CPG’s senior vice president of research and data. “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. 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’s Clergy Pension Plan. Price hosted a streaming 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,” Price said. “CPG is committed to helping lay employees prepare for retirement, and understanding their needs and mindsets is an important step.”