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OPERS Members - You Have 3 Retirement Plan Options

If you are an OPERS employee, you may or may not already know that you have a choice in the type of retirement plan that you participate in. OPERS has 3 choices.

  1. Traditional Pension Plan
  2. Member-Directed Plan
  3. Combined Plan

In this article, we will discuss the differences between the Traditional Pension Plan and the Member-Directed Plan. The Combined Plan, as it sounds, is a combination of the Traditional Pension Plan and Member-Directed Plan.

Changing Careers? 7 Podcasts and Books That Can Be Helpful

This pandemic has had an impact on all of us in one way or another and for some people, it may mean that they find themselves changing careers. If this is you, maybe it is a blessing in disguise. While it is not ideal to lose your job, the job loss may be what will push you towards pursing a career and passion that you have always wanted to pursue.  

Whether it is due to COVID-19 or another reason, if you find yourself in-between careers right now, here are some books and podcasts that will help equip you to make the most of this change.

Your 401(k) Could Have More Options Than You Think

For many Americans, a large part of your retirement net worth is contained within your company 401(k) plan. Employer’s encourage this type of saving by not only giving you an easy payroll deduction option, so your savings is automatic, but they also provide you with a match, up to a certain percentage and occasionally will even make profit sharing contributions to that plan. Additionally, they have the fiduciary responsibility to select the investment options available to you within their plan.

CARES Act: Retirement Plan Changes

The COVID-19 virus has changed our lives, at least for the short run, in impactful ways. As financial advisors, none more pressing than the changes it has created in regards to retirement planning and rules around retirement accounts. At least for now, these changes create unique opportunities in the year 2020 and we’ll certainly keep you up to date, if Congress decides to make anything permanent. During our last newsletter we talked about the fact that Required Minimum Distributions have been eliminated in the year 2020. That is important if you are someone over the age of 72.

4 Things To Do With Your Stimulus Check:

As you know, the government is issuing stimulus checks in order to help balance out the hardships that many people are feeling right now. Many Americans have already received their check or will be receiving it soon. 

If you are receiving one, it's a good idea to have a plan for the best way for you to use the money. That’s why we wanted to share...

We Are Here To Help!

As one of Dave Ramsey's Smartvestor Pros, we are passionate about helping you with your money goals and questions! It is really important that we are available to do that even with everything that is going on. We are still open and meeting clients via Zoom video conference. Here is a little information on what we are thinking about right now and how we want to be available to serve you...

There Is Hope: The Coronavirus & Your Money

We know that the Coronavirus (COVID-19) has impacted all of us and yet the level of impact can vary depending on your specific circumstances. 

If your income is changing due to everything that is going on, we know that can be stressful. We also know that just as fear is contagious, so is hope and joy.

It can be hard to feel hope & joy when you are stressed about money but we are here to help!