Now Available the MMBB Tax Guides for 2018! Click here

News and Updates

Member & Employer News

Back to top


Back to top

MMBB In The News

  • September 29th, 2015 12:47 pm | 

    7 Tips for Your Year-End Financial Review (this link will take you to another website)
    A yearly review of your finances can help you monitor your progress toward your financial goals. It gives you an opportunity to review your household spending and your investment strategy. This checklist of simple year-end investment tips can get you started.

    1. Review your progress to your financial goals
    The New Year is often a time when we reflect upon where we are and where we are going. The extent to which you are achieving your financial goals should also be part of this reflection. Has your family situation changed in a way that requires an update in your financial strategy? Remember to include all of your—and your spouse’s—investment accounts in this review. If you don’t have a financial plan, this may be the time to contact MMBB and set up a time to speak with one of our Certified Financial Planner^TM^ professionals. It’s a benefit of membership. You are much more likely to achieve your plans if you have a roadmap to follow.

    2. Update your personal investment policy
    A key component of most year-end reviews is investment performance. Performance means different things to different people. Are you an investor focused on long-term growth or trying to maintain a portfolio that has the potential to produce current income needed to pay day-to-day living expenses? Your portfolio probably needs to evolve over time as your circumstances change. For most people this means reviewing your asset allocation in the context of your investment goals. Are you comfortable with how your current portfolio balances risk and return? Can you reasonably expect your portfolio, as currently allocated among different forms of assets, to earn a sufficient amount to achieve your goal? If not, what do you plan to change?

    3. Review your portfolio’s current asset allocation
    Once you review and update your asset allocation plan, you can compare it to the way that your investments are currently allocated. Your MMBB Financial Services quarterly statement includes a pie chart that shows you how your assets are allocated across different types of investments. If you (and your spouse) have other investment accounts, include them in the asset allocation review.

    4. Re-balance your assets
    Compare how your assets are currently allocated with how you want them to be allocated. You can easily see which allocations need to be changed. Making these changes is called “balancing your portfolio.” On the one hand, balancing your portfolio requires the sale of assets that gained the most in the prior year and purchase those that performed less well. On the other hand, this strategy encourages you to buy low and sell high.

    5. Allocate assets effectively
    As you rebalance, think about which assets you are putting into different accounts. This is especially important for those with more than one investment account and accounts that are not specifically for retirement. In general, consider holding assets that generate most of their returns from income or short-term capital gains in tax-deferred accounts, like MMBB’s 403(b) plans. This reduces the taxes you pay today. It also allows your portfolio to compound more effectively over time.

    6. Increase your contribution to your 403(b) plan
    Few of us can save enough for retirement based on employer contributions to our retirement investment accounts. In order to meet our goals, we need to contribute to a 403(b) retirement plan such as MMBB’s Member Contribution Plan. Contributing to a plan such as the Member Contribution Plan —or increasing your contribution—is also a good tax strategy. Contributions within IRS limits are tax deferred. In other words, you don’t pay taxes on them until after you retire and start taking withdrawals.

    7. Set up a meeting with your financial advisor
    Answering some of the questions we’ve posed or analyzing the data you’ve collected may be difficult. You may need to spend some time with your financial planner to understand the data and to develop a course of action. MMBB has Certified Financial PlannerTM professionals available to assist members as a benefit of MMBB membership. Call us at 800.686.6222 and ask to speak with a Financial Planner or send an email to Financial Planning

    Consider in advance what types of information are most important to you and why. Don’t be reluctant to ask questions if you don’t understand what’s being presented to you; a little clarification now might prevent misunderstandings and unrealistic expectations that could have a negative impact in the future. Here are some questions to consider.

    • If your goals or concerns have changed over the last year, you’ll need to make that clear during your meeting. Making sure you’ve communicated any life changes will make it easier to adjust your portfolio accordingly and measure its performance appropriately next year.
    • You may want to check on your portfolio’s absolute performance as well as how it fared compared to some sort of benchmark. You can see how the MMBB funds performed against their benchmark by visiting the How We Invest section of
    • If a change to your portfolio is suggested based on last year’s performance—either positive or negative—don’t hesitate to ask why the change is being recommended and what you might reasonably expect in terms of performance and potential risk as a result of a shift. (Remember that past performance is no guarantee of future results.)
    • Before making any change, find out how it might affect your investing costs, both immediate and ongoing. Again, a few questions now may help prevent surprises later.

    Taking the time to review your finances at the end of the year will increase your ability to reach your investment goals. It also gives you an early start to collecting many of the documents you will need to pay your federal, state and local taxes. If there’s one resolution you keep going into the New Year, let it be a financial review.

  • September 18th, 2015 11:02 am | 

    The Hartford - New Medical Claims Administrator (this link will take you to another website)
    Effective October 1, 2015, UMR, the medical third party administrator for The Hartford Senior Medical Insurance Plan, will no longer handle the medical claim processing for The Hartford plan participants. The medical claim processing will be handled by WebTPA, an AmWINS Group Company. The change is necessary due to new regulatory requirements.

    This change impacts the administration/processing of medical claims only. The Hartford will remain the insurance carrier. UMR will continue to handle billing, eligibility and to provide plan material. For those members with prescription coverage (which is provided by CVS Caremark), there is no change. CVS Caremark will continue to provide/administer prescription coverage.

    Communications were sent from MMBB Financial Services, The Hartford and WebTPA regarding this change. A new identification card listing WebTPA as the medical claims administrator was sent by WebTPA.

    If you have any questions, please call the WebTPA Customer Service at 877.480.2432 Monday through Friday, from 8 a.m. to 6 p.m. Eastern time.

  • August 4th, 2015 11:23 am | 

    Succession Planning (this link will take you to another website)
    MMBB’s Chief Human Resources Officer Vincent Schera defines succession planning, explains its importance to your organization, and offers four steps for crafting a successful succession plan.

  • March 25th, 2015 2:57 pm |

    The Value of a Pastoral Relations Committee (this link will take you to another website)
    MMBB’s Rev. Dr. Sara Day, CFP® writes about how to set up and use a Staff Relations Committee.

Back to top

MMBB Publications

Back to top

Press Releases

Back to top