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Before investing in any 529 plan, please consider whether your or the beneficiarys home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that states 529 plan.
When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. Investment returns are not guaranteed, and you could lose money by investing in a 529 plan. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.
The availability of tax advantages or other benefits may be contingent on meeting other requirements. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. You may also contact your home states 529 plan, or any other 529 plan, to learn more about those plans features, benefits and limitations.
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Ascensus® and the Ascensus logo are trademarks of Ascensus, LLC. “People Matter. Quality First. Integrity Always.®” is a registered trademark used under license by Ascensus, LLC.
What Is Empowers Role With The Plans
Empower has been hired by the Department of State Treasurer and the Supplemental Retirement Board of Trustees to provide the recordkeeping and communications services for the NC Supplemental Retirement Plans. These services include hosting the plans’ participant website , providing account statements, accepting and processing contributions from your employer, and processing distributions, hardship withdrawals, and loans. The recordkeeping and communications services contract is awarded through a competitive bid process. Prudential Retirement, recently acquired by Empower, has served in this role since 2003 for the NC 401 Plan and since 2008 for the NC 457 Plan.
What Investment Options Are Offered By The Plans
The North Carolina Supplemental Retirement Plans offer a range of investment options to choose from based on your retirement savings goals and comfort with risk. You can review the fund fact sheets at the Choose Investments link at myNCPlans.com.
The Supplemental Retirement Plans also offer an optional asset allocation tool called GoalMaker® at no additional cost. GoalMaker offers three risk categories to choose from – Conservative, Moderate, and Aggressive – based on your investment objectives and risk tolerance. Each category has nine model portfolios based on your years to retirement or in retirement – and an age adjustment feature that automatically moves you along the allocations as you move to and through retirement. To learn more about this tool, contact your Empower Retirement Education Counselor.
Logging in to your account at myNCPlans.com. Click Log In at the top of the page. Once logged into your account, click My Service Center at the top. From the next screen, click on Profile & Preferences, and update as necessary
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CalPERS Quick Tip | Medicare
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How Do I Contribute To My Employees Accounts
Employer contributions can be valuable incentives to offer your employees for both retention and recognition. To establish an employer contribution program for your employees in the NC 401 Plan and/or the NC 457 Plan. Please contact the Empower Member Services Center at NCPlans or your Retirement Education Counselor. Employer contributions are often in the form of a certain percentage of employees compensation or a match of employees contributions.
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Contact Opm Retirement Services
Find out how to contact us for support. OPM Retirement Services processes benefits for federal retirees, manages accounts for retirees, survivors, and qualified former spouses, and sends monthly annuity payments to beneficiaries.
Before you contact us, check out these popular help topics to see if you can get an answer to your question.
Update On Class Action Instituted Against Bell
On February 21, 2020, the appeal court rendered its decision which allowed the appeal and awarded judgment to the class action plaintiffs on behalf of all members of the class.
Bell had 60 days from the date of the Ontario Court of Appeals decision to apply for leave to appeal to the Supreme Court of Canada. We understand that Bell has sought an extension to this deadline of an additional 60 days.
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How Do I Get Information On Taking A Loan From My Plan Account
For the NC 401 Plan and NC 457 Plan, please refer to the loan policy and plan documents. Only one loan is allowed from each plan at any time, and you must be actively employed by an employer who participates in the plan. Payments are made by payroll deduction, if available. Other restrictions apply. Contact Empower at NCPlans for additional information or to initiate a loan. You can also initiate a loan online by logging in to your account at myNCPlans.com. Click Log In at the top of the screen.
Jp Morgan Asset Management
J.P. Morgan Asset Management is a division of JPMorgan Chase. JPMorgan Chase is one of the largest banks in the United States, and it manages more than $2.9 trillion as of 2020.
JP Morganâs Asset Management, through its Retirement Link service, is designed for businesses with $500,000 to $100 million in assets. The retirement service has more than 100,000 participants, and its assets under administration exceed $5.7 billion.
Employerâs using JP Morgan as their retirement service provider include Pacific Drilling, Blackhawk Network, ARAMCO, Tellepsen Corp, and Standard Process Inc.
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What Are The Differences Among The Nc 401 Plan And Nc 457 Plan
To compare the plans, please refer to the Plan Comparison Chart on myNCPlans.com.
From an employers compliance perspective, there are differences among the plans in what is considered compensation and what types of employer contributions are permitted or required . In addition, the NC 401 Plan and the NC 457 Plan are state-sponsored plans that are administered by the Department of State Treasurer and the Supplemental Retirement Board of Trustees.
If you have questions about the plans, you can:
Sentinel Benefits & Financial Group
Sentinel Benefits & Financial Group is headquartered in Wakefield, Massachusetts, and it provides investment advisory, retirement plan administration, actuarial consulting, and other wealth planning and life planning services.
As a recordkeeper, Sentinel Benefits & Financial Group administers more than $9.25 in assets, and it serves more than 175,000 individuals. Notable employers who use Sentinel Benefits & Financial Group include Compass Medical, Harvard Management, Wood Mackenzie, Select Equity Group, and Village Care of New York.
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What At& T Managers Should Do
These changes greatly impact management employees who have been planning to retire in the next year or next few years.
If that includes you, it may make sense to consider retiring in 2021 to ensure you can take advantage of the higher pension calculation and receive the pre-Medicare health subsidy.
We know, that is a big decision. With a 30+ year history of working with people like you, our goal is to help you understand how these changes impact your situation.
Thats why, to help you better understand your options, we are hosting a live webinar on Friday, January 22 at noon EST.
Well talk in more detail about what these changes mean, what to know about your pension and health coverage options and much more.
Please register. Bring your questions. And tell your co-workers!
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A Comprehensive Guide To At& T Retirement Plans
According to the Employee Benefit Research Institute, 6 in 10 workers in the United States feel stressed when having to prepare for retirement. And while 7 in 10 report that they are prepared for life after their career ends, only approximately 1 in 4 feels very confident about their readiness.
If you are currently employed or were previously employed by AT& T or one of the regional Baby Bells, you are fortunate enough to have access to a reliable employer-sponsored retirement package. However, in order to understand the terms and conditions of the AT& T retirement plan, its necessary to conduct the research and speak with an experienced and trained plan administrator who has worked with current employees and retirees of the telecommunications firm, so that you can maximize the benefits of your pension & 401, allowing you to plan appropriately for your life after your career has come to its close.
An Overview of AT& T Retirement Plans
Eligibility & Calculation
The modified rule of 75 determines what benefits they qualify for like retiree medical, medicare plans, life insurance, retiree discounts. What year you started determines if you have a pension or not. They no longer offer pensions for new employees.
|Retirement Age||At least 25 yearsAt least 30 years|
The Pension Benefit Plan: An Example
Note: If promoted, the employee could be eligible for another package, which would then require further calculating by their retirement plan advisor to determine the amount.
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What Should At& T Employees Do To Maximize Retirement Benefits
Every situation is unique, and we always recommend working closely with a financial advisor that specializes in retirement and can guide you through your options. This will become especially important after retirement, when youll need to manage your funds closely to ensure a comfortable lifestyle. Working with an independent financial advisor ensures you benefit from a relationship that has only your best interests in mind, not those of the company.
These changes are hugely impactful to AT& T employees planning to retire this year or in the next few years. Many employees will likely consider retiring early this year to secure their benefits, including the higher pension calculation, subsidized health insurance, and others. This decision will depend on many factors, including your personal financial situation, lifestyle, and goals. Some considerations for employees that are potentially interested in retiring early may include
- How soon will you be eligible for Medicaid?
- Will retiring early result in enough additional money to surpass the money you would earn by continuing to work for a few more years?
- Where will you save money by retiring early ?
- What additional expenses will you have
- Do you have any major expenses coming up, like home improvement or paying for a dependents college tuition?
- Have you saved enough to continue enjoying your current lifestyle?
Key Contact Information
AT& T Benefits Center 877-722-0020
Fidelity Service Center Website
Careplus Overview & Benefits
Your benefits under the CarePlus Program includes both Experimental CarePlus and Expanded CarePlus.
Experimental CarePlus is an optional supplemental medical program designed to cover specific procedures not covered under AT& Ts basic medical programs. This program provides coverage for certain experimental or investigational treatments and services. Covered procedures and services are limited to those included on the Experimental CarePlus covered procedures and services list. Services are reviewed at least annually and procedures and services may be added, removed or modified. For example, if a Experimental CarePlus procedure is no longer considered experimental or investigational and becomes mainstream medical care, the procedure will be removed from the Experimental CarePlus coverage list and become a covered procedure under the basic medical programs.
Expanded Services provides coverage that AT& T determines may be beneficial to participants, including services like:
- Dental Services Provided in a Medical Care Facility
- Doula Services and Childbirth Classes
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At& T Pension Calculation Change
First and foremost, changes to your pension. Essentially, the way your pension benefit is calculated will change and not in a good way.
Your vested pension benefit is not going away, but pension accruals are being reduced. For those in AT& Ts Legacy Management Program, both the annual basic and supplemental pay credits will be lower. For those in AT& Ts Nonbargained Program, the percentages applied to the career average compensation and Pension Band Minimum formulas are getting cut.
Keep in mind, these changes only apply to future pension accruals starting January 1, 2022. Pension benefits earned and accrued prior to this change are not impacted.
What this all means in simple terms is that management employees who retire in 2022 or later can expect a lower pension than they would have received under current calculation formulas.
If you want to see exactly how your pension will be impacted, Fidelity will be updating its estimator tool February 19.
Updates For At& T Retirement Plans
In mid-December of 2020, AT& T notified impacted employees that future pension credits will be calculated differently moving forward and pre-Medicare health insurance will be eliminated. They also announced a reduction in retiree life insurance. These changes impact both management and bargainedfor employees who retire after December 31, 2021.
Firstly, pension accruals will be reduced moving forward. Fortunately, retirees vested pension benefits will remain unaffected. The annual basic and supplementary compensation credits for those in AT& Ts Legacy Management Program will be lower, and the amounts applicable to the work total salary and Pension Band Minimum formulas are being diminished for those in AT& Ts Nonbargained Program. In simple terms, management employees planning to retire after December 31, 2021 will receive a lower pension than they are eligible for under the current plan.
Secondly, for those who retire on or after January 1, 2022, the pre-Medicare medical and dental subsidy will be discontinued. While AT& T has historically covered a portion of healthcare costs for retirees, they will now have to enroll in the AT& T group medical and dental programs at full price until they qualify for Medicare. We suggest anyone planning to retire before Medicare eligibility look into less expensive options, like joining a spouses plan or researching alternative providers.
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Unified Trust Company Na
Unified Trust Company is a bank trust company that serves individuals, institutions, and retirement plan investors. In 2006, the Center for Fiduciary Excellence certified the United Trust Company for fiduciary best practices, making it one of the first trust companies in the US to get the certification.
United Trust Company has $5 billion in assets under management, and it serves more than 54,000 participants. Employers who use Unified Trust Company include Gower Corporation, Women Health Care, Fuji Vegetable Oil, Toyotetsu America, and Solomon Colors.
How Do I Get Information On Domestic Relations Orders
For information on the domestic relations orders for the NC 401 Plan or NC 457 Plan, visit our website. The website includes model orders for the NC 401 Plan and NC 457 Plan, as well as a guide to domestic relations. Domestic relations orders are required to separate an account for a non-participant ex-spouse or other alternate payee. Orders should be sent to Empower by fax to 439-8602 or by mail to Empower, Attention: , P.O. Box 5340, Scranton, PA 18505.
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Epic Retirement Plan Services
Headquartered in Rochester, New York, EPIC Retirement Services is a national provider of retirement plan bookkeeping, marketing, and service solutions to other financial institutions. EPIC Retirement is a subsidiary of NBT Bancorp Inc.
EPIC Retirement Plan Services is a recordkeeper for more than 5,600 plans, and it serves more than 300,000 participants, as of 2020. It manages more than $25 billion in assets. Notable employers using EPIC Retirement Plan Services include Amerinet, Moneta Group, Prima Care, Tressler, Crescent Parts & Equipment, Bette & Cring, and Assetmark Financial.
Bbt Banking Customer Service Phone Numbers And Support Resources
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Headquartered in Winston-Salem, North Carolina, BB& T is one of the top ten financial holding companies in the United States. They operate more than 1800 financial centers in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Tennessee, Maryland, Florida, Alabama, Indiana, Texas and Washington DC. They offer a broad range of financial services to include banking, lending, insurance, trust and wealth management strategies.
Headquartered in Winston-Salem, North Carolina, BB& T is one of the top ten financial holding companies in the United States. They operate more than 1800 financial centers in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Tennessee, Maryland, Florida, Alabama, Indiana, Texas and Washington DC. They offer a broad range of financial services to include banking, lending, insurance, trust and wealth management strategies. For those who need customer service assistance, BB& T Bank offers several different avenues of communication.
Customers can also contact BB& T Bank by using their secure online contact form to send general comments, inquiries or requests. Required fields are highlighted in bold and marked with an asterisk. It is necessary to complete these fields in order to receive a response from a BB& T representative. Fields include name, address, phone number, and valid email address.
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