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6400 S Fiddlers Green CircleSuite 600
Greenwood Village, CO 80111

Phone:

303.779.6502

Fax/Other:

303-779-6520

Transition Solutions

The Personal Assistance You Need to Address Your Changing Benefits

You have important benefit decisions to make.  The good news is...

We can help.

Any changes to your group benefits can be confusing. There are so many things to think

about: What are all your options? Are there deadlines? What are the best choices for

you and your family? Changes to your group benefits shouldn't compromise the financial

security you and your family deserve. Transition Solutions is a part of  the PlanSmartSM

Financial Education Series for employees, which provides you with the dedicated support

you need tomake effective, time-sensitive decisions that align with your financial

objectives. A Transition Solutions Specialist who can:

Answer your questions about the life insurance continuation options available to you;

Provide you with detailed information about the life insurance products and financial services available to you;

Help you maintain your valuable life insurance protection;

Provide information about health insurance coverage alternatives; and

Offer solutions for handling your lump-sum pension or 401(k) account.

How will you protect your family's financial future?

Life insurance protection is something you may need whether you're working or not. It's

the way many people provide financial security for themselves and their families. There are

many choices available for protecting your family with life insurance:

Should you apply for your own medically underwritten policy? If so, how much coverage

and what type of policy do you need?

Are there other continuation options you need to consider?

And, because the amount of an individual policy may be limited through conversion, will

you need additional coverage?

Do your dependents have group coverage as well? If so, they may also convert.

How much time do you have to decide?

What option is right for you?

A Transitions Solutions Specialist can help you analyze your needs, decide which option

works best for you, and implement the agreed-upon solution.

 

What will you do with your 401(k) or pension plan distribution?

You may be entitled to money from your pension, 401(k) or some other form of

company-sponsored retirement savings. It's called a lump-sum distribution,

and deciding what to do with it may be among the most important decisions you

make.

 

Why?

Because if you're under age 59½, the distribution may be subject to a penalty

charge plus the payment of regular taxes—unless handled properly. The steps you

take now will determine how your savings will continue to work for you and

whether you will give up a sizable amount to taxes and penalties.

Should you pocket the money? Perhaps buy a new car or take a vacation?

Should you transfer or “roll over” the money into an Individual Retirement Account?

Should you leave the money in your former employer's plan?

Or, if you're taking another job, should you transfer the funds into your new employer's

retirement program?

Is there a deadline?

 

It is important to note that each of these possible options can present investors with both advantages and disadvantages. This will depend largely upon the unique financial needs and circumstances of individual investors.

Many people lose valuable tax benefits or suffer tax penalties by doing nothing or

waiting too long to make a decision. Don't let that happen to you! We can

help you determine the best option for you based on your tax situation and

desired investment strategy.

Centennial State Financial and its representatives do not provide tax or legal advice. Please consult your tax advisor or attorney for such guidance.

 

Here are more things to think about:

If you are leaving your current employer, do you plan

on getting another job?

If you plan to become promptly re-employed, will

your next employer provide the same level and type

of benefits?

If you no longer will be employed, will you need the

same benefits?

Are you adequately protected for Long-Term Care

 

Check the background of this financial professional on FINRA's BrokerCheck
Check the background of this financial professional on FINRA's BrokerCheck