{"id":4147,"date":"2024-05-03T22:25:32","date_gmt":"2024-05-03T22:25:32","guid":{"rendered":"http:\/\/sandbox.planmember.com\/fcdev\/ibew-neca\/?page_id=4147"},"modified":"2025-02-11T10:42:38","modified_gmt":"2025-02-11T10:42:38","slug":"ibew-local-unions-savings-security-plan","status":"publish","type":"page","link":"http:\/\/sandbox.planmember.com\/ibew-neca\/investment-programs\/ibew-local-unions-savings-security-plan\/","title":{"rendered":"IBEW Local Unions Savings & Security Plan – NEW"},"content":{"rendered":"

The IBEW Local Unions Savings & Security Plan is a qualified retirement plan exclusively for IBEW members which can be used as a rollover vehicle for lump sum pensions and 401(k) plans from AT&T, Verizon, and their successor companies. The plan may also be used as a 401(k) plan by participating IBEW Locals and represented employers.<\/p>\n

The fundamental appeal of the plan lies with providing union members personalized planning support and access to investment options they may not have access to on their own.<\/p>\n

Some of the plan\u2019s features and benefits include:<\/h3>\n

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Retirement planning assistance<\/h4>\n

You have access to experienced retirement professionals and personalized asset allocation and planning services. We can help you determine how much you should save and how to select investment options that suit your risk tolerance, financial goals, investment experience, current assets, and time horizon.<\/p>\n

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Investment diversity<\/h4>\n

As independent investment fiduciaries, the plan can select investments objectively based on their merits. You can choose from a diversified menu of core fund options and five professionally managed Elite Index Portfolios. The plan also offers thousands of other investments through a Self-Directed Brokerage Account.<\/p>\n

Lower costs<\/h4>\n

The plan investments feature low annual expenses* using institutional share classes, when available, with no upfront or deferred sales charges.<\/p>\n

Retire at age 55<\/h4>\n

You can retire in the year in which you turn 55 or older and withdraw your money from the plan without any IRS restrictions or penalties. This feature is not available in a broker IRA in which you must be 59 \u00bd before you can withdraw money without penalty or restrictions.<\/p>\n

Flexible withdrawals and loans<\/h4>\n

The plan offers a variety of different qualified withdrawal options. In addition to one-time distributions on request, the plan offers systematic payments monthly, quarterly, semi-annually, and annually. If you ever need to borrow money for any reason, you can take a tax-fee loan from your plan account, without IRS penalty. This valuable feature is not available in Broker IRAs.<\/p>\n

Stable Value Fund<\/h4>\n

The plan offers the benefit of a Stable Value Fund** which seeks to preserve your principal investment and generate a stable rate of return, making it an ideal choice for a retirement account.<\/p>\n

Tax-free transfers<\/h4>\n

You don\u2019t pay federal or state taxes, or any IRS penalties, when you transfer your money from an employer\u2019s plan or IRA to the IBEW Local Unions Savings & Security Plan.<\/p>\n

Plan today. Enjoy tomorrow.<\/em><\/h4>\n

Whether you are many years away or in the process of retiring, we will help guide you every step of the way \u2013 from initiating your savings journey to navigating through your retirement years.<\/p>\n

Get more information about the IBEW Local Unions Savings & Security Plan:<\/h4>\n