Our CUSO Financial Services, L.P. (CFS) licensed Financial Consultants can offer guidance for your asset rollover questions. Our consultants have obtained the Chartered Retirement Planning CounselorSM (CRPC)® designation through the College for Financial Planning, and can help ensure your hard-earned retirement savings continue to work to your advantage.
If you’re in the midst of--or recently completed--a career transition or are entering early retirement, using your savings to cover current expenses could be a costly mistake that prevents you from achieving major financial milestones later in life. The long-term impact of tapping into your money now may likely outweigh the short-term benefit of an immediate payout. By choosing to withdraw funds now and not rolling them over to an IRA, you could:
- Forfeit a large amount of your retirement account balance to income taxes and possible penalties.
- Lose the benefit of long-term, tax-deferred growth that many IRAs and employer-sponsored retirement plans offer.
There may be no need to cash out investments to roll over your account. You may be able to keep your current investments when you roll over to an IRA or, there might even be no immediate need to do a rollover at all.
Contact us today to set up an appointment to evaluate your situation. We’ll respond with an investment strategy that's compatible with your lifestyle and sets you up for short- and long-term financial goals.
Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA an investor should consider various factors including, but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.
Compare the difference between a Traditional IRA and a Roth IRA
If your rollover was due to a voluntary buyout of your pension plan, speak with one of our consultants about our P.A.R. Program, a comprehensive Pension Alternatives Review.
Pension Alternatives Review
Some employers offer retirees and future retirees the option to take their pensions as lump sum payments, but provide no guidance as to what payment option is best for each individual’s situation.
Making assumptions or taking “friendly” advice about your pension payout structure is dangerous and could jeopardize your family’s financial future. To protect the assets you’ve earned, it’s essential that you enlist the help of an experienced, objective professional who can evaluate your pension and financial situation and recommend a strategy that helps you reach your short and long-term financial goals.
When you call us, our team can:
- Review pros and cons of your traditional pension vs. lump sum distribution after completing our comprehensive PAR questionnaire.
- Evaluate your needs, goals and investment comfort level, and take into account other sources of retirement income.
- Present a variety of options based on your unique needs, which may include keeping your traditional pension plan.
We’re available to guide you toward a pension payout strategy that’s designed for you. Schedule your complimentary Pension Alternatives Review (PAR) consultation today!
Our Financial Consultants are available at DFCU Financial branches by appointment and have received their Chartered Retirement Planning CounselorSM (CRPC)® designation through the College for Financial Planning.
For specific tax advice, please consult a tax professional.
Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (member FINRA
) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. DFCU Financial has contracted with CFS to make non-deposit investment products and services available to credit union members. DFCU Financial Partners is a division of DFCU Financial.