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Intercontinental Exchange employees: Managing an Inheritance

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Intercontinental Exchange employees handling an inheritance should weigh the emotional cost of their legacy against the financial gain. A financial advisor like The Retirement Group can help align such large assets with long-term retirement and investment goals so decisions today reflect past and future needs.

Getting an inheritance means much more than just receiving money. It is an opportunity to protect your family financially. We advise Intercontinental Exchange employees to review their financial plans now so that their inheritance fits into their existing strategy and enhances their future prospects, according to The Retirement Group advisors.

We will discuss: 'In this article:

1. The Legal & Tax Implications: Understanding inheritance laws and the need to consult with legal and tax professionals is important.

2. Emotional and Strategic Financial Planning: Emotional aspects of receiving an inheritance must be balanced against strategic financial planning for the long term.

3. Retirement and Wealth Management: Assessing the impact that an inheritance may have on retirement plans and wealth management in general, with an eye toward Intercontinental Exchange employees.

Heirloom wealth may be a curse or a blessing. Even if you suspect a relative has planned to include you in their will, you may have overlooked some other aspects of the inheritance process. Here are some considerations if the event does occur.

Ask a lawyer or tax expert before making any decisions about inheritance—this is informational only and not a substitute for real advice.

Take your time. If someone cared enough about you to leave you an inheritance, you may need time to mourn their death. This is vital, but most of the bigger decisions regarding your inheritance will probably wait. Sometime later you may be better able to make decisions. Neh, don't go it alone. So many laws, options and dangers exist that an expert may be necessary.

Consider your own family. An inheritance may change one's own financial strategy. Make sure you consider this.

A tax collector could come to visit. The tax consequences if you inherited an IRA are important. Distributions to non-spouse beneficiaries are required by the end of the tenth calendar year following the year of death of the account owner under the SECURE Act.

The new rule also does not require the non-spouse beneficiary to withdraw funds within 10 years, as I have learned as a Intercontinental Exchange employee. The money must be withdrawn by the end of the tenth calendar year following the inheritance, however. Others may include the surviving spouse of the IRA owner, disabled or chronically ill individuals, people no older than the IRA owner and minor offspring of the IRA owner.

Stay informed. The estate laws have changed many times since you thought they were the same.

Keep in mind what you should be doing in your situation. The sentiment is understandable—you may want to leave your inheritance as it is out of respect for your relative. What if the inheritance is not right for your situation now? A financial professional can help you decide whether the inheritance meets your objectives, time horizon, and risk tolerance.

Added Fact:

A study by Merrill Lynch in 2021 suggests Intercontinental Exchange employees handling an inheritance should consider the impact on their retirement plans. Of those who received an inheritance, 42% said it affected their retirement timeline, the study found. Some retired earlier than expected and some worked longer to cash in on the inheritance. That insight illustrates why Intercontinental Exchange employees considering retirement should consider how an inheritance might affect their financial goals, lifestyle decisions, and overall retirement strategy. An integrated approach combining the inheritance and long-term retirement plans may help with informed decision-making.

Added Analogy:

Managing an inheritance as a Intercontinental Exchange employee feels like receiving an heirloom—an extremely sentimental piece. Like you would handle such an heirloom carefully, you should handle your inheritance strategically as well. Think about holding that heirloom and realizing its significance in your life and in your family history. As you would consult experts on art preservation to determine its true value and to ensure its long-term preservation, you should also consult lawyers, tax, and financial professionals about how to manage your inheritance. Consider your inheritance a treasure—honor the past while making sound financial decisions for the future. Like an heirloom that tells generations of stories, your inheritance should be a part of your overall wealth management strategy that will live on indefinitely.

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Sources:

1. Senior Strong 'Understanding Inheritance Tax Impact on Retirees.' Senior Strong , 2023, www.seniorstrong.org . Accessed 24 Feb 2025.

2.Accounting Insights 'Managing Your Inheritance: Strategic Financial Planning Guide.' Accounting Insights , AccountingInsights Team, 2023, www.accountinginsights.org . Accessed 24 Feb 2025.

3. Kiplinger Waggoner, John. 'Don’t Count on an Inheritance for Your Retirement Plan.' Kiplinger , 27 Jan 2025, www.kiplinger.com . Accessed 24 Feb 2025.

4. CreditBrite 'How to Navigate Retirement Planning After Inheriting Assets.' CreditBrite , 2023, www.creditbrite.com . Accessed 24 Feb 2025.

5. Kiplinger’s Free E-Newsletters 'Investing, Taxes, Retirement.' Kiplinger’s Free E-Newsletters , 2025, www.kiplinger.com . Accessed 24 Feb 2025.

What type of retirement plan does Intercontinental Exchange offer to its employees?

Intercontinental Exchange offers a 401(k) retirement savings plan to its employees.

How can employees of Intercontinental Exchange enroll in the 401(k) plan?

Employees of Intercontinental Exchange can enroll in the 401(k) plan through the company’s benefits portal during the enrollment period.

Does Intercontinental Exchange match employee contributions to the 401(k) plan?

Yes, Intercontinental Exchange provides a matching contribution to employee contributions in the 401(k) plan, subject to certain limits.

What is the maximum employee contribution limit for the 401(k) plan at Intercontinental Exchange?

The maximum employee contribution limit for the 401(k) plan at Intercontinental Exchange follows the IRS guidelines, which may change annually.

When can employees of Intercontinental Exchange start contributing to their 401(k) plan?

Employees of Intercontinental Exchange can start contributing to their 401(k) plan as soon as they meet the eligibility requirements set by the company.

What investment options are available in the Intercontinental Exchange 401(k) plan?

The Intercontinental Exchange 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees of Intercontinental Exchange take loans against their 401(k) savings?

Yes, employees of Intercontinental Exchange may be able to take loans against their 401(k) savings, subject to the plan’s terms and conditions.

What happens to my 401(k) plan if I leave Intercontinental Exchange?

If you leave Intercontinental Exchange, you have several options for your 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it in the Intercontinental Exchange plan if permitted.

Is there a vesting schedule for the 401(k) contributions at Intercontinental Exchange?

Yes, Intercontinental Exchange has a vesting schedule for employer contributions to the 401(k) plan, which means that employees must work for the company for a certain period to fully own those contributions.

How often can employees change their 401(k) contribution amounts at Intercontinental Exchange?

Employees of Intercontinental Exchange can change their 401(k) contribution amounts during designated enrollment periods or as allowed by the plan.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Plan Name: Intercontinental Exchange Pension Plan (specific plan name may vary in documents) Years of Service and Age Qualification: Typically, eligibility for pension plans includes a minimum number of years of service and reaching a certain age. For ICE, you would generally need to have a specific number of years of service (e.g., 5-10 years) and be a certain age (e.g., 55 or older). Pension Formula: Pension benefits are usually calculated based on years of service and salary, often using a formula like “Final Average Salary x Years of Service x Pension Multiplier”. Specific formulas should be detailed in the plan documents. Plan Name: Intercontinental Exchange 401(k) Plan Eligibility: Typically, employees are eligible to participate in the 401(k) plan from their date of hire or after a specific waiting period. Plan Details: The 401(k) plan often includes options for employee contributions, company matching contributions, and investment choices. The specifics of matching contributions, vesting schedules, and investment options are detailed in the plan document.

Restructuring and Layoffs: In early 2023, ICE announced a restructuring plan involving a reduction in workforce. The decision was influenced by strategic shifts to streamline operations and adapt to market changes. The economic uncertainty and ongoing technological advancements necessitated this move to maintain competitive advantage. This restructuring highlights the need for employees and stakeholders to stay informed about such changes given the broader economic and political context affecting investment strategies.

Stock Options: In 2022, Intercontinental Exchange (ICE) provided stock options primarily to senior executives and key employees as part of their incentive compensation program. These options generally had a vesting period of 4 years and were priced at the market value at the time of grant. RSUs: Intercontinental Exchange (ICE) awarded RSUs to a broader range of employees including managers and above. The RSUs typically vested over a 3-year period, with performance-based metrics affecting final vesting

Health Benefits: ICE provides a comprehensive benefits package, including medical, dental, and vision coverage. The plans are designed to be flexible to cater to various employee needs. Acronyms and Terms: HDHP: High Deductible Health Plan HSA: Health Savings Account FSA: Flexible Spending Account EAP: Employee Assistance Program Recent News: ICE's benefits information is generally updated annually, with the latest changes reflecting adjustments to premiums, co-pays, and coverage options.