Our team focuses on handling the financial and investment issues often distinct to utility employees and retirees. Whether you are a union employee or management, it is important to work with an advisor who understands the details and options of your company’s retirement plan.
Case Study
Matt Whalen is 61 years old and looking to retire in the next two years. He has worked for the local utility for most of his career. His wife, Brenda, 55, enjoys her work as an art teacher and wants to continue working for another 10 years. Matt is concerned about how to set up a retirement income plan that will allow him to retire first, but then, be able to provide additional income when Brenda retires so they can travel together.
| Challenges | Solutions |
| How do I know if I have pensions or other benefits due from my company’s past mergers? | We review all current and previous employer plans to help determine if there are pension and/or other benefits due. We work with you to complete and submit all paperwork and add the benefits into your retirement plan. |
| How do I choose a pension option that will protect my spouse and family? | We review your pension options and recommend the most appropriate choice for you, your spouse and family. We will discuss each option and answer any of your questions before finalizing your pension option. |
| 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? | After a complete inventory of your investments, pension benefits, Social Security and healthcare options, we create specific recommendations, based on your age and income requirements, to determine the potential impact penalties may have on your retirement income. |
| How do I make sure Brenda is taken care of if I die? | We work with you to make sure that your investments and pensions are set to provide for a surviving spouse. 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? | We conduct an analysis based on age, company benefits, Medicare options, private health insurance options and your family situation. We review healthcare alternatives and income requirements so you can 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 is designed to provide the income you need throughout retirement. |
From insights and explanations about your plan’s benefits, to uncovering provisions of past mergers and filling out your retirement paperwork, our team is committed to helping utility workers for the long term.
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.
