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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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Quarterly Market Review: July-September 2020

Oct 11, 2021 10:56:00 AM
written by The Retirement Group

The Markets (third quarter through September 30, 2020)


Before reviewing your company 401(k) plan, check how the market in quarter 3 can affect your retirement. July kicked off the third quarter with a bang as stocks surged throughout much of the month. Investors were encouraged by solid employment growth, a rise in personal income and consumer spending, a surge in the housing sector in your area, and an increase in industrial production. All news was not positive, however. The second-quarter gross domestic product fell more than 31% and many states saw an increase in the number of reported COVID-19 cases. Nevertheless, investors stayed with equities, pushing values higher for the fourth consecutive month. Tech stocks drove the Nasdaq to a 6.8% gain, followed by the S&P 500 (5.5%), the Global Dow (3.5%), the small caps of the Russell 2000 (2.7%), and the Dow (2.4%). Treasury bond prices climbed, sending yields lower in July. Crude oil prices settled at $40.40 per barrel, nearly $1.00 ahead of their June closing values. Gold prices closed July at $1,990.00, about 11% higher than June's closing price.


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

ExxonMobil Lump Sums Fall, as Rates are on the Rise

Sep 29, 2021 12:00:00 AM
written by The Retirement Group

This article is pertinent to all age groups, however those entering their Retirement Years will find the information particularly important. Interest rates are tending upward, if this trend continues it will decrease the value of ExxonMobil employees' pension lump-sums. The IRS has recently released the Segment rates for the month of August, recorded at: 0.66% / 2.50% / 3.12%. Over the course of 2021, interest rates at ExxonMobil increased significantly, which greatly reduced many lump sum payments. With record low rates culminating in the first quarter of 2021, ExxonMobil employees have since seen a significant increase in interest rates. We saw an increase in rates for the second & third quarters of 2021 in the second segment, and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the second segment, in the last quarter. The short term rates have experienced a slight increase, while the long term rates saw a slight decrease. Even though blended rates for the first quarter of 2022 will not be known until the end of September, this recent trend upward might be an early indicator of bad news for ExxonMobil employees opting for a lump-sum.


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

ExxonMobil Interest Rates Trend Downward, Approaching Year End

Aug 17, 2021 12:00:00 AM
written by The Retirement Group

 

Interest rates are tending downward, if this trend continues it will increase the value of ExxonMobil employees' pension lump-sums. The IRS has recently released the Segment rates for the month of July, recorded at: 0.63% / 2.51% / 3.10%. Over the course of 2020, interest rates at ExxonMobil dropped dramatically, which greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second & third quarters of 2021 and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the most significant segment, in the last quarter. The short, medium and long term rates released by the IRS have displayed a slight decrease. Even though blended rates for the first quarter of 2022 will not be known until mid October, this recent trend downward might be an early indicator of good news for ExxonMobil employees opting for a lump-sum.


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

AT&T Pension Plan

Aug 15, 2021 9:03:00 AM
written by The Retirement Group

If you work for AT&T and are entering your retirement years this information will apply to you specifically.

AT&T History

AT&T has a complicated history of breaking up and merging back together. In 1984 the giant corporation was split into regional telecommunications companies known as the "Baby Bells." Since the break-up, these companies have merged once again to form the present-day AT&T.  Due to AT&T's mergers, understanding the complexities of the pension plans can be a challenge. Click the button below to schedule a follow up call with an AT&T specific advisor here at The Retirement Group.

 

 


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posted in Financial Planning, Lump Sum, Pension, Retirement Planning, AT&T

ExxonMobil Interest Rates Continue to Rise through the Fourth Quarter

Jul 20, 2021 8:00:00 AM
written by The Retirement Group

 

Interest rates increased, which will minimally reduce the value of ExxonMobil employees' pension lump-sums. Over the course of 2020, interest rates at ExxonMobil dropped dramatically, which greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second & third quarters of 2021 and now fourth quarter rates have risen slightly higher. Rates rose roughly 0.04% in the most significant segment, in the last quarter.  


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

How Are Workers Preparing for Retirement

Jun 28, 2021 12:33:07 PM
written by The Retirement Group

In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according to the 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), retirement preparations do vary a bit by age group.

Retirement Preparations
Nearly three-quarters (72%) of workers say that they or their spouse have personally saved money for retirement. Not surprisingly, the older the respondents were, the more likely they were to report saving:

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posted in Retirement Planning, Corporate, workers

Will Q4 ExxonMobil Interest Rates Continue to Rise?

Jun 21, 2021 1:30:00 PM
written by The Retirement Group

 

Interest rates are increasing which will reduce the value of ExxonMobil employees' lump-sums. Over the last year, interest rates at ExxonMobil have dropped dramatically, which has greatly increased many lump sum payments. This culminated in record low rates for individuals that commence their benefits in the first quarter of 2021. However, we saw an increase in rates for the second quarter of 2021 and now third quarter rates have risen even higher.  Rates have risen roughly 0.5% in the most significant segment, just in the last quarter.  If this trend continues, we could see a significant reduction in ExxonMobil lump-sum values. ExxonMobil's 4th quarter rates will be released next month, but early signs show they appear to be trending upward.


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

Market Month: April 2021

May 4, 2021 11:16:00 AM
written by The Retirement Group


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posted in Financial Planning, Retirement Planning

Rising ExxonMobil Interest Rates Reduce Lump-Sums

Apr 15, 2021 2:03:31 PM
written by The Retirement Group

 


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

Due Date for Federal Income Tax Returns and Payments Postponed to May 17

Mar 25, 2021 9:06:54 AM
written by The Retirement Group

 


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

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