Paying Assessments – Lay DB Plan
Benefits Bill Pay is Live!
Administrators now view, approve, and pay pension and group health, group life, and disability benefit invoices online using the new Benefits Bill Pay feature in My Admin Portal (MAP).
Checks are no longer accepted for payment.
Learn more at Benefits Bill Pay.
To help ensure your bank does not block payments, you may need to provide them with the following information. Some banks have digital safeguards that may flag or restrict payments to new or unfamiliar vendors unless pre-authorized:
- Originating company name: Paymentus
- Originator ID: 0000000160
Assessments for The Episcopal Church Lay Employees’ Retirement Plan (the Lay DB Plan) are billed monthly and are due when billed. Late payments may jeopardize employees’ benefits.
To pay your institution’s pension and group health, group life, and disability invoices, click the Benefits Bill Pay button on the My Admin Portal (MAP) homepage and follow the onscreen prompts.
Institutions located in the United States may pay by bank transfer (e-check) or debit card only.
Institutions outside the United States may use Benefits Bill Pay to pay with a US debit card, US credit card, or bank transfer (e-check) from a US bank account. They may also mail a check or send a wire transfer.
Learn more at Benefits Bill Pay.
If an Employee's Assessments Are in Arrears
The Lay DB Plan requires that assessments be paid promptly for employees to receive proper credit for their service and compensation earned.
If assessments are not paid in a timely manner, the employee will not receive credit for service or compensation earned and can lose certain benefits after two years of non-payment, unless all delinquent assessments with interest are paid in accordance with the terms of the Lay DB Plan.
- For the employee to get credit for service and compensation earned, the late assessments must be paid in full, with interest.
- Interest will be charged beginning 90 days after the assessment was billed. The annual rate used to calculate interest is 4%. This rate is subject to periodic review.
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