Questions about Retirement Plan Payout Options?

We can all agree that the one constant in life is change.  

One of the changes in the retirement plan world is the discontinuation of pension plans.

There has been a shift to having employees save for their own retirement, with some potential employer matching opportunities from an employer only funded pension plan.  

Those entering the workforce in the past 10 years probably have no idea what a pension plan is, but for those with 20 or 30 years of experience are quite familiar with the concept - and have been depending on it. You may not know all the details but it has likely provided some comfort knowing it’s there.

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Now you receive a letter from your employer informing you that they are ending the current plan. Inserted with the letter are the vast options you have to receive what has been earmarked for you and a deadline to let them know your decision.  What do you do?

That is a difficult question with no simple answer.  The first step is to review your retirement plan, and build a roadmap of the future.  

If you don’t have a plan the first step is to build one. At Forman Investment Services we believe that this step is so important that we added Dennis Carr, a professional CERTIFIED FINANCIAL PLANNER™ with over 25 years of experience to our team to guide clients through the process, and give you the confidence to make the right decision for you. We encourage you to schedule an initial consultation to learn more.

Life changes… and at Forman Investment Services, WE’RE READY!

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® in the U.S.