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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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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

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

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

What is a Mega Roth IRA?

Nov 9, 2022 11:44:21 AM
written by The Retirement Group

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.


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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

Chevron Lump Sums Experiencing Serious Drops, as Interest Rates Continue to Soar

Jun 22, 2022 2:04:36 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 August 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

Meta(Facebook) RSU and 401(k) Benefits

Jun 10, 2022 5:20:00 PM
written by The Retirement Group

With the recent news of slowdowns and reductions at Facebook, now is the time to get a refresher on your company benefits and understanding the transition process to minimize tax impacts.

This article will focus on your benefits and our Meta(Facebook) Transition page will discuss the 401(k) rollover process.

With turmoil now facing many employees historically Meta(Facebook) has been rewarding employees with some of the best benefits in the industry.  Meta(Facebook) offers RSU benefits as well as 401K very competitive matching contributions. These financial benefits have helped employees stay motivated and on track financially. 


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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

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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.