The mega backdoor Roth IRA is a strategy ‘highly compensated employees’ or HCEs at Fortune 500 can use to increase retirement savings and shelter investment growth from taxes in retirement.
What is a Mega Roth IRA?
Mar 14, 2023 12:15:00 PM
written by
The Retirement Group
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
Fortune 500 Employees: How 72(t) Avoids the 10% Penalty
Mar 14, 2023 10:04:39 AM
written by
The Retirement Group
How Fortune 500 Employees Can Avoid Penalties?
72(t) payments, also known as “substantially equal periodic payments,” are advantageous because they are exempt from the 10% early distribution penalty that usually applies to withdrawals before age 59 ½. You can take them from an IRA at any time, but only from a workplace plan after leaving Fortune 500.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
SIMPLE 401(k) Plan
Dec 20, 2022 12:23:31 PM
written by
The Retirement Group
What Is It?
In General
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
Fortune 500 Employees: Lump-Sum Payouts and Annuity Purchase
Dec 3, 2022 10:46:35 AM
written by
The Retirement Group
When considering retirement or a job change from Fortune 500, it is imperative to learn about your eligibility for a lump-sum payment offered by your retirement plan.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
Fortune 500 employees: Annuities Vs. IRA Withdrawals at 4% Rule
Nov 30, 2022 3:53:48 PM
written by
The Retirement Group
There are just a couple of things almost all Fortune 500 retirees need when they hit retirement: predictable income and protection against a cluster of risks, which include longevity risk, performance risk, and sequence-of-returns risk.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
Alternative to the 4% Rule Using Variable Withdrawals
Jun 22, 2022 7:28:00 PM
written by
The Retirement Group
How much can you spend in your retirement from Meta without the risk of running out of money?
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
RSU and 401(k) Benefits for Facebook Employees
Jun 10, 2022 5:20:00 PM
written by
The Retirement Group
With the recent news of Facebook's slowdowns and layoffs, it is time to assess your company's benefits and transition strategy in order to avoid tax consequences.
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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, Retirement, ExxonMobil, Chevron, Verizon, Northrop Grumman
Chevron Lump Sums Fall as Interest Rates Continue to Rise
May 24, 2022 12:33:18 PM
written by
The Retirement Group
Many Chevron employees who are waiting to commence their pension lump-sums, will now see a significant decrease in their value. With short, medium, and long-term rates rising significantly over the last month, the higher average rates will result in lower lump-sums for those retiring in July of 2022. This is because when Chevron employees elect the month they would like to begin their pension, Chevron looks back at the third, fourth, and fifth months' rates to calculate the pension disbursement. When these interest rates move up or down, your lump sum amount will move in an inverse direction, so if interest rates increase, your lump sum amount will decrease and vice versa.
Through the pandemic, interest rates dropped dramatically which greatly increased many lump sum payments. This trend culminated in record lows for individuals who commenced their benefits in December of 2020. However, since then this trend has shifted, as interest rates have been increasing quickly, there has been a large reduction in pension lump-sum values.
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posted in Pension, Interest rates, Chevron, Inflation
Chevron Lump Sums Decrease as Interest Rates Soar
Apr 21, 2022 2:16:23 PM
written by
The Retirement Group
Want to see are most update to date blog on Chevron interest rates, click here.
Many Chevron employees who are waiting to commence their pension lump-sums, will now see a significant decrease in their value. With short, medium, and long-term rates rising significantly over the last month, the higher average rates will result in lower lump-sums for those retiring in June of 2022. This is because when Chevron employees elect the month they would like to begin their pension, Chevron looks back at the third, fourth, and fifth months' rates to calculate the pension disbursement. When these interest rates move up or down, your lump sum amount will move in an inverse direction, so if interest rates increase, your lump sum amount will decrease and vice versa.
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posted in Pension, Interest rates, Chevron, Inflation
Chevron Interest Rates Jump, Lump Sum Payments Continue to Decrease
Mar 22, 2022 4:02:35 PM
written by
The Retirement Group
Lump-sums are decreasing for Chevron employees who wait to commence their pension lump-sums. With both short, medium, and long-term rates rising over the last month, the higher average rates will result in lower lump-sums for those retiring in May of 2022. When Chevron employees elect the month they would like to begin their pension, Chevron looks back to the third, fourth, and fifth month's rates to calculate the rates used for the pension disbursement. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship. Through the pandemic, interest rates dropped dramatically which has greatly increased many lump sum payments. This trend culminated in record lows for individuals who commenced their benefits in December of 2020. However, since December 2020, rates have increased, causing a reduction in pension lump-sums.
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posted in Pension, Interest rates, Chevron