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Stephen C. Bach CFP®
Financial Advisor
7:12 Financial LLC
309 Henry Lane
Wallingford, PA 19086
610-892-1718 (Phone/Fax/Text)
712financial@lincolninvestment.com
March/April 2023
Is a New Employer in Your Future
Starting a job at a new company can be an exciting opportunity. Before you clean out your desk and say good-bye to your coworkers, review the items on the checklist below.
Your Retirement Account.
You can:- Leave the money in your former employer's plan, if the employer allows;
- Have funds directly transferred to your new employer's plan or an IRA. Consider rolling over HSA funds to your new health account as well;
- Cash out of the plan. However, if you opt for cash, you need to pay income taxes at your ordinary rate and if you are younger than 59 1/2, you will pay a 10% penalty.
Stock Options.
If stock owneship is part of your compensation find out the stock type, tax implications, vesting schedule, and what will happen to the stock if you leave the company.Benefits.
Review your new employer's insurance and benefit plans to determine if benefits match what you currently have.Flexible Spending Account.
Use any money left in your FSA before you leave the company so you don't lose it.CONTACT US
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Advisory Services offered through Capital Analysts, or Lincoln Investment, Registered Investment Advisers. Securities offered through Lincoln Investment, Broker/Dealer and Member FINRA/SIPC. www.lincolninvestment.com
7:12 Financial LLC and the above firms are independent and non-affiliated. Lincoln Investment is the provider of 403(b)/457 plans sponsored by employers and your advisor represents Lincoln Investment when offering these plans.
7:12 Financial LLC and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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