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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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Up-To-Date Market Week

Sep 20, 2021 10:19:40 AM
written by The Retirement Group

The Markets (as of market close September 17, 2021)

Stocks have generally retreated in September on concerns that the Delta variant is slowing the economy's rebound and that the markets, which had been surging, may be primed for a decline. The benchmark indexes generally lost ground for the second consecutive week, with only the Russell 2000 able to close the week in the black. Ten-year Treasury yields climbed 3 basis points last week, the dollar climbed higher, and crude oil prices increased $2.34 per barrel. Among the market sectors, only consumer discretionary (0.5%) and energy (3.3%) advanced. The remaining sectors lost value, led by materials (3.2%) and utilities (3.1%).
 

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posted in Financial Planning, Lump Sum, Pension

Retiring & Worried About a Housing Crash?

Sep 19, 2021 9:32:00 AM
written by John Jastremski

The Real Estate market has been appreciating dramatically through the pandemic; The Federal Reserve's latest findings show that, within the first three months of this year, net worth for U.S. households rose by $960 billion solely based on the value of real estate owned." CNBC recently reported that "The 10-City composite rose 18.5%, up from 16.6% in the previous month" and "The 20-City composite was up 19.1%, up from 17.1% in the previous month." According to the S&P CoreLogic Case-Shiller Index report, Phoenix, San Diego, and Seattle reported the highest year-over-year gains. This brings back the large concern that we are in another 2007 housing bubble.


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IRS Releases 2022 Key Numbers for Health Savings Accounts

Sep 14, 2021 9:34:25 AM
written by The Retirement Group

The IRS has released the 2022 contribution limits for health savings accounts (HSAs), as well as the 2022 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). An HSA is a tax-advantaged account that's paired with an HDHP. An HSA offers several valuable tax benefits for Fortune 500 employees:


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U.S. Census 2020 Results: Takeaways

Aug 24, 2021 2:57:41 PM
written by The Retirement Group

Every 10 years, the U.S. Census Bureau releases its final count of the U.S. population.

The new census numbers determine a state’s congressional representation in the U.S. House of Representatives for the next decade, along with the amount of money each state will receive from the federal government.

The 2020 Census was released in April 2021. Here are a few takeaways.


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posted in Census, 2020

Chevron Interest Rates Decline, Raising Lump-Sums

Aug 19, 2021 3:02:31 PM
written by Wesley Boudreaux of The Retirement Group (800) 900-5867

 

Chevron interest rates decreased 0.19% in the second segment for those who commence their benefit in October 2021. This is the first time in several months that interest rates have dropped this much, and the result will be slightly larger lump-sums for those retiring in October. 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 have 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, rates have increased, causing a reduction in pension lump-sums.


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posted in Pension, Interest rates

Student Loan Payment Pause Extended Through January 2022

Aug 18, 2021 12:24:43 PM
written by The Retirement Group

You or many in your area may have been expecting to start paying the burden of student loan payments in the upcoming month. On August 6, 2021, the U.S. Department of Education announced an extension of the pause on federal student loan payments to January 31, 2022. The payment moratorium, currently in effect for millions of federal student loan borrowers, was set to end on September 30, 2021.


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posted in Student Loans, Finances

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

ConocoPhillips Interest Rates Trend Downward, Good News for Employees

Aug 15, 2021 12:00:00 AM
written by Tyson Mavar RICP® of The Retirement Group (800) 900-5867

 

Interest rates are trending in the right direction for ConocoPhillips employees, considering the lump sum option on their pension payment. Interest rates dropped for individuals that commence their benefits in Q4 2021. Over the course of 2020, interest rates dropped dramatically, which greatly increased many lump sum payments. However, interest rates have been on the rise since Q1 2021. A drop in Q4 indicates a shift in the trajectory of interest rates. If this continues, lump-sums will rise again in Q1 2022. Should you desire to take your pension as a lump sum, ConocoPhillips will use interest rates and your age to calculate your lump sum payment. When interest rates move up or down, your pension lump sum amount will move in an inverse relationship (except for Cash Balance Pension Lump Sum payouts). Even though it is too early to know blended interest rate figures for next quarter, July figures were just released, and they are lower than the previous month, which may be good news for ConocoPhillips employees electing a pension lump-sum. July segment rates were recorded at: 0.63% / 2.51% / 3.10%.


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posted in Pension, Interest rates

Market Month: July 2021

Aug 5, 2021 8:15:00 AM
written by The Retirement Group

The Markets (as of market close July 30, 2021)

Stocks closed generally higher in July, despite a downturn at the end of the month. Second-quarter corporate earnings data was generally strong, although some megacap companies posted weaker-than-expected earnings results. Economic news was mostly favorable. The economy expanded at an annualized rate of 6.5%, 850,000 new jobs were added, while the number of new unemployment claims declined. Industrial production rose, as did new orders for durable goods.


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posted in Market Volatility, Market, July

Antitrust Crackdown Aims to Increase Competition

Aug 4, 2021 3:53:08 PM
written by The Retirement Group

In July, the president issued an executive order intended to "combat excessive consolidation of industry, abuses of market power, and the harmful effects of monopoly." More than a dozen federal agencies were directed to begin working on 72 initiatives that seek to promote robust competition in the U.S. economy, in some cases through new regulations.[1]


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posted in Market, competition, Antitrust