Changing jobs is a common experience for most U.S. workers. But, what’s the right thing to do with your retirement savings plan account from a previous employer? What are your options, and how can your decision impact your long-term retirement savings? Here’s an opportunity for you to get a clear understanding of your different options, and how each one can affect your progress toward your retirement savings goals — at no cost and no obligation:
Presented by Joshua Taylor from CUNA Mutual Group
You’ll get a clear understanding of the different options available to you when you leave an employer and have an employer-based retirement savings plan account balance to consider, including:
Four major options for retirement plan balances when changing jobs
This workshop is educational only and is not investment advice. If you need advice regarding your financial goals and investment needs, contact a financial advisor. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Annuities are issued by CMFG Life Insurance Company (CMFG Life) and MEMBERS Life Insurance Company (MEMBERS Life) and distributed by their affiliate, CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, IA, 50677. CMFG Life and MEMBERS Life are stock insurance companies. MEMBERS® is a registered trademark of CMFG Life. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state, and may not be available in all states or through all broker/dealers.
*Securities and advisory services are offered through the LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Call Federal Investments and Retirement are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Call Federal Investments and Retirement, and may also be employees of Call Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Call Federal or Call Federal Investments and Retirement. Securities and insurance offered through LPL or its affiliates are: Not insured by NCUA or Any Other Government Agency, Not Credit Union Guaranteed, Not Credit Union Deposits or Obligations, May Lose Value
Annual percentage rate – the rate that reflects the actual annual cost of a loan and includes the loan interest rate, private mortgage insurance, points and some fees, including origination fees.
Initial interest rate on a fixed rate loan – it is the rate for the entire life of the loan. On an adjustable rate loan it is the interest rate that is fixed for some specified number of months at the beginning of the loan term.
A point is equal to one percent of the principal amount of your mortgage. For example, if you get a mortgage for $100,000, one point means you pay $1000 to the lender. These points are usually collected at closing and may be paid by the borrower or the home seller, or may be split between them. You can pay points at closing to receive a lower interest rate, or you can choose to have points paid to you (also known as a lender credit) and use them to cover some of your closing costs. (negative points means a higher interest rate).
See below for the assumption made for this payment example.
