SESSION OVERVIEW:

Clients may leave their companies for a few reasons: lay off, disability or retirement. Employees who have different employer sponsored retirement plans; DB Pension, DC Pension, GRRSP; have multiple options when it comes to taking out these employer sponsored funds. This module will look at different employer sponsored plans, as well as how employees can maximize their options with these accumulations when leaving a job.

APPROACH:

Knowing how employer sponsored plans work and options to commute these plans is imperative for advisors working in any client market or demographic. As a trusted advisor, it's imperative you know all the opportunities to mitigate tax consequences and position the client for both the future growth of the remaining funds, and maximum flexibility in using them, when an employee faces job termination.

WHAT YOU WILL LEARN:

• Options when coming out of employer-sponsored retirement plans
• Restrictions that may in place for certain plans
• Timing to ensure maximum benefit for client, after tax

LEARNING ACTIVITIES: To test the learning process, the student will answer multiple-choice questions and contemplate the role of the advisor.