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Retire On Purpose, With Purpose

 
When it comes to managing your retirement, a small mistake can cause a major loss of capital. That is why it's important to speak with a financial advisor who is familiar with your Company's benefits. Schedule a call today..  
 
 
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The Retirement Group

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Recent Posts

Need Tax Help? 2020 Year-End Tax Tips

Sep 2, 2023 1:30:18 AM
written by The Retirement Group

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Wills: The Cornerstone of Your Estate Plan

Jul 13, 2023 10:26:25 AM
written by The Retirement Group

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Retirement Plans for Small Businesses

Jun 7, 2023 3:19:17 PM
written by The Retirement Group

As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you're allowed certain tax benefits for establishing an employer-sponsored retirement plan, including a tax credit for establishing the plan and a deduction for contributions you make. In return, however, you're required to include certain employees in the plan, and to give a portion of the contributions you make to those participating employees. Nevertheless, a retirement plan can provide you with a tax-advantaged method to save funds for your own retirement, while providing your employees with a powerful and appreciated benefit.

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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Social Security Disability Benefits

Jun 7, 2023 2:38:35 PM
written by The Retirement Group

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

How Layoffs Can Have Negative Long-Term Consequences for Companies

May 2, 2023 11:41:32 AM
written by The Retirement Group

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Auto Loans

Apr 18, 2023 8:30:00 AM
written by The Retirement Group



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posted in Financial Planning

Rollovers

Apr 18, 2023 8:04:07 AM
written by The Retirement Group

In general, a rollover is the movement of funds from one retirement savings vehicle to another. You may want, or need, to make a rollover for any number of reasons--your employment situation has changed, you want to switch investments, or you've received death benefits from your spouse's retirement plan. There are two possible ways that retirement funds can be rolled over--the 60-day rollover and the trustee-to-trustee transfer.


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Financial Survival After a Job Loss

Mar 15, 2023 8:29:00 AM
written by The Retirement Group

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

Life Insurance and Terminal Illness

Mar 14, 2023 11:15:00 AM
written by The Retirement Group

 

 

If you are terminally ill, your life insurance policy is a valuable resource. Not only can you use life insurance to provide adequate income to your survivors for their short- and long-term needs, but you also may be able to receive a portion of the death proceeds from your life insurance before you die in order to pay necessary expenses or to fulfill a dream.

Guaranteed Insurability Rider

When you are terminally ill, you pose an obvious risk to an insurance company, and you will probably be unable to buy additional life insurance coverage. However, if you purchased a guaranteed insurability rider (additional purchase option) when you bought your policy, you may be able to buy additional life insurance without providing proof of medical insurability.


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning

PGE and Getting a Retirement VSP?  Should You Take It?

May 7, 2022 1:26:52 PM
written by The Retirement Group

What is it? 

In today's corporate environment, cost cutting, restructuring, and downsizing are the norm.  We have found many employers are offering their employees early retirement packages. As you near retirement age, you may find yourself confronted with an early retirement offer from PG&E. PG&E may refer to the offer as an early out package or retirement offer or golden handshake or a golden parachute. While many early retirement offers seem attractive at first, it is important for you to review an offer carefully before accepting it to ensure that it is indeed a "golden" opportunity.

 

Details of the PG&E 2022 VSP:

Participation in the VSP is voluntary and offers the following benefits:

  • Lump sum payment equal to 52 weeks of your base salary.
  • $10,000 transitional lump sum payment.
  • $50,000 retiree medical subsidy to your Retiree Health Account (RHA).
  • Prorated 2022 STIP (Short Term Incentive Plan), consistent with Company’s overall STIP program. Participants understand STIP is a discretionary at-risk compensation program.

 

Typical elements of an early retirement offer
I
An early retirement offer usually consists of severance payments and post-retirement medical coverage coupled with already existing retirement benefits.  These may be in the form of healthcare financial incentives or a severance tied to years of service. 


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posted in Financial Planning, PG&E

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Information regarding the lump-sum payout may or may not apply to specific employees based on factors such as mergers, acquisitions, years of service, age, or the date an employee was hired.