We have many clients who are current and retired employees of Ford Motor Company. Our experience working with Ford employees makes us uniquely equipped to handle their needs. A few examples of how we can help Ford employees are below:
Provide information and guidance with regards to the Savings and Stock Investment plan for both hourly and salary workers. By providing information and clarity it is our goal to help clients get the most out of their retirement plan.
At retirement or termination of employment you are eligible to rollover your Retirement plan to an IRA (Individual Retirement Account). There are advantages and disadvantages of this strategy and it is our goal to fully explain the pros and cons of this strategy so that you can make an educated decision.
Many participants in the Ford Motor Company are eligible to do an in-service rollover (tax free transfer while employed) to an IRA. Similar to a separation of service rollover this strategy has pros and cons which we help clients fully understand before making a decision.
Increasingly employers such as Ford are periodically offering lump sum and buy out options on pension plans. This can be one of the most important financial decisions you can make that is why it is so important to work with a qualified financial advisor when deciding which pension option to choose. Here is a basic guide on pension lump sums that has been written by FSG advisor Brandon Carter.
Before rolling over the proceeds of your retirement plan to an Individual Retirement Account (IRA) or annuity, consider whether you would benefit from other possible options such as leaving the funds in your existing plan or transferring them into a new employer’s plan. You should consider the specific terms and rules that relate to each option including: the available investment options, applicable fees and expenses, the services offered, the withdrawal options, the potential flexibility around taking IRS required minimum distributions from the option, tax consequences of withdrawals and of removing shares of employer stock from your plan, possible protection from creditors and legal judgments and your unique situation. Neither New York Life Insurance Company nor its agents provide tax or legal advice. Consult your own tax and or legal advisors regarding your particular situation.
Please consult with your HR partner and/or plan administrator.
When considering rolling over the proceeds of your employer sponsored retirement plan to an IRA, you have the option, among others, of leaving the funds in your existing plan, if permitted, or rolling them into your new employer’s plan, if one is available and rollovers are permitted. Each choice offers advantages and disadvantages, depending on the desired investment options and services, fees and expenses, withdrawal options, required minimum distributions, tax treatment, and your unique financial needs and retirement plans. Neither Financial Strategies Group nor its advisers provide tax or legal advice. Consult your own tax and or legal advisors regarding your particular situation.