The Buikema/Oursler Retirement Planning Team
of Raymond James
BCHS Employees - Trinity Health Retirement Plan
Battle Creek Health System Employees
If you have questions about your options for your Trinity Health Retirement Savings Plan account, we are here to help. One of your choices, of course, is to simply map/roll/transfer your account balance over into the Bronson retirement savings plan.
Another choice that you have, regardless of age, employment status, or account balance, is to roll your Trinity Health Retirement Savings Plan monies into your own Traditional IRA at any financial services firm of your choosing. Through your own Traditional Individual Retirement Account you may take advantage of the following benefits, among others:
- Diversity of Investment Options: Some plans offer limited investment options. Others may specify that certain contributions must be invested in a particular holdings (e.g., employer matching contributions). Either way, you may end up with overweighted positions in one or two mutual funds. This can expose your retirement assets to early losses, which undermines long-term planning. By rolling your employer-sponsored plan balance to your own Traditional IRA, you have the choice to reallocate your portfolio over hundreds (if not thousands) of different investments options to achieve greater diversification, generate income, and/or reduce volatility.
- Professional Guidance: Why not apply the same guidance and investment acumen provided by a financial advisor to the assets in your employer-sponsored retirement plan? The decisions you make now will have far-reaching consequences over they course of your career, retirement, and beyond. There is no need to go it alone. You can have the opportunity to work with a financial advisor to develop a retirement savings & income strategy based on your own unique circumstances that will meet your long-term financial needs & goals.
- Enhanced Beneficiary Options: Some employer-sponsored retirement plans specify that non-spouse beneficiaries must liquidate the account when the participant passes away, with the potential of a significant tax liability. With your own Traditional IRA, your beneficiaries will have greater flexibility with their distribution options.
- Stretch the IRA over Several Generations: If you don't need the money in your IRA when you retire, you may be a candidate for a strategy called a Stretch IRA. A Stretch IRA may help to minimize your tax exposure and leave as much of your IRA assets as possible to your chosen beneficiaries.
Why an IRA Rollover?
Remember, this is your retirement savings...it is critical that you keep your assets growing and working for you if you are planning to have a financially secure retirement. Rolling over your employer-sponsored retirement plan savings to your own, self-directed IRA allows you to:
1. Direct your own assets.
2. Maintain the tax-deferred status of your retirement savings.
3. Preserve the ongoing tax-deferred earnings and capital appreciation.
4. Avoid the 10% Federal tax penalty and 20% mandatory withholding associated with a distribution to you out of your employer-sponsored account.
5. Have the opportunity to convert some or all of your plan balance to a ROTH IRA and avoid future taxes.
6. Elect distribution as part of a series of substantially equal payments under Section 72(t).
The Self-Directed IRA Advantage
- Flexibility: A self-directed IRA allows for many different investment options, including individual common and/or preferred stocks, corporate bonds, government securities, traditional open-end mutual funds, closed-end mutual funds, variable annuities, fixed annuities, CDs, REITs (real estate investment trusts), and many others.
- Recordkeeping: The custodian of your IRA receives the contributions, provides detailed records of transactions, prepares statements reflecting all assets, makes distributions based on your instructions and handles the tax reporting. You receive a consolidated statement reflecting all account activity during the year, as well as have 24/7 access to your account via your IRA custodian's website.
- Simplicity: If you maintain IRAs at more than one institution, it may be time-consuming and difficult to gather information and maintain accurated records. Combining your assets into on IRA has distinct advantage. Transferring IRAs held elsewhere to a Raymond Jame Self-Directed IRA can be done quickly and easily.
- Cost Effectiveness: At Raymond James you can maintain your IRA for one reasonable annual fee (only $40.00 per year). In fact, IRAs with a value of $250,000 or more pay no annual fee.
Preparing for Your Future - How The Buikema/Oursler Retirement & Investment Planning Team of Raymond James Can Help
Most people recognize the importance of investing, but just don't have the time, the interest, and/or the expertise to adequately assess their options and develop effective strategies.
Particularly in today's volatile markets, that's where a financial advisor familiar with your objectives, your finances, your feelings toward risk - and the investment strategies available to you - can provide invaluable help. In addition, the right financial advisor can help make certain that your financial decisions are based on facts and careful research, rather than on emotions and market volatility.
Matt Buikema, Mike Oursler, Travis Morse, and Laura Bean can help:
1. Understand your concerns.
2. Identify & articulate your financial needs & goals.
3. Assess your tolerance for risk.
4. Design an appropriate investment strategy and portfolio.
5. Manage and adjust your strategy and portfolio as needed.
If you're interested in learning more about setting up your own self-directed Traditional IRA for the rollover of your BCHS/Trinity Health Retirement Savings Plan account, please give us a call at 269-979-3300 or send an e-mail to Travis Morse at travis.morse@raymondjames.com. As always, your initial meeting & consultation with us is 100% free of charge, thank you!
3494 Capital Ave SW
Battle Creek, MI 49015
Phone: 269-979-3300
Fax: 269-979-6146
Toll-Free: 800-767-6639
Cell: 269-267-8287
Contact Us
Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.
© 2011 Raymond James & Associates, Inc., member New York Stock Exchange / SIPC Privacy Agreement