State and federal employees often have different challenges and opportunities when planning for retirement. While many workers have different investment and benefit options that private sector workers might not, the complexity of navigating through these retirement options can often be overwhelming.
Case Study
Annie Parker has worked as a federal employee her entire career. She has held several different positions and has always contributed to her retirement plan. Annie’s husband, Scott, is a manager at a large manufacturing company and is contributing to his employer-sponsored plan. He has several other retirement accounts with former employers. The couple is retiring and wants to get a consolidated picture of their retirement savings to better understand when they can retire and with what income level.
| Challenges | Solutions |
| How do I choose a pension option that will protect my spouse and family? | We examine all of your pension options, answer any questions and work to make recommendations that provide for you, your spouse and family. |
| When should I claim Social Security? | We perform a Social Security analysis and help you determine the best claiming strategy. |
| How much of a penalty will I incur if I retire early? | We request specific early retirement estimates from the state and analyze the amount of the reduced benefit. |
| How do I make sure my spouse is taken care of if I die? | We work with your spouse to apply for spousal benefits and make sure your investments and pensions are set to provide the income needed. We also coordinate with your attorney to make sure critical estate plans and beneficiary designations are up to date. |
| What are the healthcare options for my family? | After we conduct a review, based on your age, company benefits, Medicare options, private insurance options and family situation, we evaluate the healthcare alternatives and income requirements so we can help you make an informed decision. |
| How much retirement income do I need? | Together, we create a plan based on your lifestyle and income needs. We review all investments, Social Security and pension options to create a flexible plan that provides the income you need throughout retirement. |
| When can we retire and begin to draw down our benefits? | We take a complete inventory of your investments, pension options, Social Security and healthcare options and create specific recommendations based on your age and income requirements. |
With our experience and knowledge of state and federal retirement plans, our team can help you build a retirement plan tailored to your needs that helps you make the most out of your benefits.
This case study is hypothetical and for discussion purposes only. It is not intended to represent any specific return, yield, or investment. Individual experiences reference above may not reflect the future experience of any client. The planning process discussed may not be appropriate for your personal situation, even if it is similar to the example presented. Past performance is no guarantee of future results. Investing involves risk including the possible loss of principal.
