We are stewards of your retirement benefit.
UBG provides governance, oversight, and administration services for your co-op’s defined benefit plan and for many participating company401(k) plans. Drawing on deep knowledge of benefit plan structures and complexities, we apply experience and insights to deliver the highest levels of plan integrity, compliance, and performance.
A not-for-profit mutual benefit corporation, UBG serves nearly 300 co-ops and 15,000 participants.
Plan participants appreciate RetireMint’s portability, which allows them to transfer their benefit to one of nearly 300 participating co-op employers located across 13 states.
Many participating co-ops choose to offer employees the UBG 401(k) plan as an option to supercharge their retirement savings. UBG serves as plan administrator for both plans, providing employees easy, one-stop access to their RetireMint and 401(k) accounts. For employers, seamless administrative oversight and access through one system results in an integrated payroll/HR experience.
RetireMint grows in 13 states.
Plan participants appreciate RetireMint’s portability, which allows them to transfer their benefit to one of nearly 300 participating co-op employers located across 13 states.
To see if your co-op participates in RetireMint, select your state below:
See what’s possible with RetireMint!
Active RetireMint participants should sign-in to access a RetireMint calculator that incorporates their personal wage and service histories. The model below does not reflect benefit accruals to date.
Each employer selects its benefit accrual rate; it’s a key multiplier in the formula that helps answer the question, “How much could my paycheck-for-life be each month?”
Toggle between the four most common benefit accrual rates to see what’s possible.
presumes 3% annual increases
(at the normal retirement date)
* The RetireMint tool above is provided for demonstration purposes only and does not reflect the various formulas, service histories, and wage histories used to calculate each participant’s monthly benefit amount. As such, please do not rely on this tool to make any retirement or distribution decisions. To receive your monthly benefit estimate please contact a URG benefits administrator at 816-459-3300.
Plan
Details
We’ve identified a few of the plan details participant’s often want to know more about. You can also click here [downloads Summary Plan Document to user’s computer or phone] to review and download the RetireMint Summary Plan Description.
Getting Your Benefit (Includes Death Benefits)
I want to retire next year, so what should I do first? Is it possible to start getting my benefits early? I’m a death benefits beneficiary, so where do I start? How long will it be between my retirement date and my first benefit check?
If you’re wondering how you can begin receiving your RetireMint benefit, you’ll likely find the answer in the Summary Plan Description, which provides complete details about your RetireMint benefit. If you have further questions, please contact us and we’ll be happy to help you.
Dates and Timing
- Your Normal Retirement Date depends on your date of hire:
- Normal Retirement Date
- For participants hired before July 1, 2019, Normal Retirement Date is the later of: 1) Age 65; or 2) the January 1 of the year in which a participant reaches his fifth anniversary of Plan participation.
- For participants hired on or after July 1, 2019, Normal Retirement Date is the later of: 1) Age 67; or 2) the January 1 of the year in which a participant reaches his fifth anniversary of Plan participation.
- Deferred Retirement is any retirement age that is delayed past the Normal Retirement Date.
- Early Retirement, if you are vested, is any retirement age between 55 and your Normal Retirement Date (with an exception for Rule of 85 described below).
- The Rule of 85 is a special early retirement rule that allows you to retire immediately at any age, with 100% of your accrued benefit if your age plus Creditable Service equals 85 or more Rule of 85 is a special early retirement rule that allows you to retire immediately at any age, with 100% of your accrued benefit if your age plus Creditable Service equals 85 or more.
- Disability Retirement can begin at any age if you become totally and permanently disabled while an employee of a Participating Employer. To qualify for disability payments, you must meet certain qualifications, including participation in RetireMint for no less than 36 months. See the Disability Section of the Summary Plan Description for more details.
- If you terminate your employment before qualifying for Early Retirement, your benefit from the Plan depends on your vesting status: terminate
- Vested participants are due a benefit at Normal Retirement Age and may be eligible for a withdrawal of contributions and interest prior to age 55.
- Non-vested participants are due reimbursement of their contributions and interest.
Vesting
Participants become 100% vested in their RetireMint benefit after working and contributing for a period of five years.
- You are always 100% vested in that portion of your Accrued Benefit that you contribute personally (and the interest thereon).
- After five years of service, you become 100% vested in 100% of your accrued RetireMint benefit, including your contributions and your employer’s.
- Vesting service is generally counted from your hire date.
- You must be 21 years of age to participate in RetireMint; however, the hours you work until you are 21 count toward vesting.
FAQs
Participants frequently have similar questions. If you don’t see an answer to one of yours, feel free to contact us via email or call 816.459.3300.
What’s the difference between RetireMint (a defined benefit plan) and a 401(k) plan?
A defined benefit plan like RetireMint is a traditional type of pension plan that pays benefits according to a formula based on a multiplier of wages, years of service, and the participating employer’s Benefit Accrual Rate. Having ReitreMint and a 401(k) provides a tremendous advantage for participants, though there are significant differences between the two.
RetireMint
- Participants are entitled to a lifetime monthly Benefit from RetireMint. Unlike a 401(k), participants will not outlive RetireMint.
- RetireMint doesn’t fluctuate with the market, while 401(k) plans are impacted by the market’s ups and downs.
- RetireMint assets are managed by fiduciaries for the benefit of all participants and the plan’s integrity. With 401(k) plans, participants are responsible for making their own investment decisions – a prospect that can be daunting, even for financially savvy participants.
- Pension Benefit Guaranty Corporation, a federal agency that insures pensions, safeguards (within limits) RetireMint. No similar protection exists for 401(k) plans.
401(k)
- 401(k) plans offer high contribution limits (increased to $23,500 in 2025), with extra contributions allowed for workers nearing retirement. A defined benefit plan does not allow for this flexibility.
- Many company 401(k) plans generously match participant contributions, effectively boosting their employees’ retirement funds.
- 401(k) plan participants have flexibility to choose where their funds are invested in the stock market.
- Many 401(k) plans provide the option for employees to borrow money against their accounts, and often at a lower interest rate than commercial banking institutions offer.
When do I receive my first monthly RetireMint check?
- First checks are usually a little late, depending on when your employer reports your termination date and wages.
- Subsequent checks: If you choose Direct Deposit, 1st business day of the month.
- Manual checks are mailed four business days before the 1st of the month.
- If you receive a manual check before the 1st of the month, do not cash it until the first business day of the month.
How do I change my beneficiary?
Beneficiary changes must be received in writing. Participants can access the form (here). You can also email us, and we will gladly mail you the forms to complete and return.