Pension Benefits Group- Coastal Area

Pension Benefits Group- Coastal Area Our niche is in the public employees pension market with no obligation comprehensive pension reviews

Makes me want some pancakes! Happy pancake day!
09/25/2023

Makes me want some pancakes! Happy pancake day!

09/04/2023

The Government Pension Offset (GPO) impacts spouses, widows, and widowers who have pensions from federal, state, or local government jobs. It can result in a reduction of their Social Security benefits under certain circumstances. If you are receiving a pension from a government job for which you did not pay Social Security taxes during your employment, your Social Security spouse, widow, or widower benefits may be reduced. If you have any questions, please feel free to reach out to us.

08/28/2023

Some common mistakes made regarding social security include filing early for higher earners, which reduces the income benefit to the survivor. Another is both spouses may also delay past full retirement age and neither claims the spousal benefit. Additionally, it's important to consider the health of both spouses and not underestimate how long you will be in retirement. If you have any questions or concerns, please reach out to us for our expertise.

08/25/2023

Clients often ask us how they can pay for our advice and guidance. However, our clients never pay us a fee for our services. Instead, we are compensated by the companies that we place their business with. Please feel free to reach out to us if you have any questions.

08/21/2023

Do you know what percentage of income Social Security provides for retirees? For lower income earners, it's 75%, for medium earners, it's 40%, and for high earners, it's 27%. Given these numbers, wouldn't it be wise to learn how to maximize your Social Security benefits? We can assist you in maximizing your Social Security benefits, both for your lifetime and your spouse's. Please contact us to maximize your benefits.https://www.ssa.gov/pubs/EN-05-10035.pdf

08/18/2023

Is there any particular topic that you would like us to write about? As we often get engrossed in our own world, it would be great to ask our audience about their concerns. Please feel free to write back to us and let us know your thoughts.

08/16/2023

Are you contributing to your employer's 403B or 457 plan? Have you considered whether a Traditional or a Roth plan is best for you? Often, we meet with individuals who are contributing to retirement plans but are unsure of which type of plan they are contributing to. Depending on their perspective on current and future taxes, they may be contributing to the wrong plan for their situation. Since everyone has unique circumstances, there is no single answer for all. We can assist you in determining which plan is most suitable for your circumstances.

08/14/2023

The Windfall Elimination Provision (WEP) is a formula that adjusts Social Security worker benefits for individuals who receive pensions from employers that do not withhold Social Security taxes from their salaries. These types of pensions are typically paid by state and local governments or non-U.S. employers and are referred to as "non-covered pensions." The amount of Social Security benefits an individual will receive in retirement is determined by the number of years they have earned Social Security wages. Social Security may be complex, so if you have any questions, please don't hesitate to reach out to us.

08/11/2023

The Government Pension Offset (GPO) impacts spouses, widows, and widowers who have pensions from federal, state, or local government jobs. It can result in a reduction of their Social Security benefits under certain circumstances. If you are receiving a pension from a government job for which you did not pay Social Security taxes during your employment, your Social Security spouse, widow, or widower benefits may be reduced. If you have any questions, please feel free to reach out to us.
https://www.ssa.gov/benefits/retirement/planner/gpo-calc.html

08/09/2023

We are frequently asked about the difference between a State pension plan (Defined Benefit Plan) and other retirement accounts. The main difference is that a State pension is a Defined Benefit plan which provides a guaranteed lifetime income, whereas other retirement accounts like 403B and 457 plans are Defined Contribution plans where you, as the participant, bear the risk of investment returns and potentially exhausting your funds during retirement. We can assist you in managing this risk and ensure that you have enough funds throughout your retirement. Please don't hesitate to contact us for further assistance.

08/07/2023

What are the three main sources of income for retirees? They are personal savings and investments, Social Security, and continued employment earnings. It is important to maximize this income before retiring. Seeking professional advice before taking the retirement is recommended, and we are always available to assist with any questions.

08/04/2023

If you anticipate an increase in income taxes during retirement, it may be beneficial to consider converting your traditional retirement accounts to a Roth IRA. While you will be responsible for paying taxes on the amount you convert, there are notable advantages to this approach. Firstly, you will no longer be obliged to make required minimum withdrawals in the future. Additionally, you will enjoy tax-free retirement income. It is important to note that no time is optimal for paying taxes, but the situation worsens when you rely on a fixed retirement income. Please do not hesitate to contact us if you have any further inquiries.
https://www.forbes.com/advisor/retirement/roth-conversion/

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Ventura, CA
93003

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Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

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