Retirement Planning

Your Retirement Resource

Need to Rollover?

Take the worry out of your rollover. Tropical Financial Investment and Insurance Services representatives specialize in retirement planning and can help you analyze your situation and suggest appropriate strategies for you to consider.

Changing Jobs? Retiring?
Don’t Leave your Retirement Plan Dollars Up in the Air

If you’re changing jobs or retiring, you’re in the midst of an enormous change. You should seriously be considering what to do with your money in your employer’s pension plan, 401(k), 403(b)/TSA or 457 plan. After all, it’s probably one of your biggest assets. The wrong move could cost you thousands and greatly affect the quality of your retirement years.

Generally, there are four options for your retirement plan:
-Leave it in your former employer plan.
-Transfer it to your new employer plan.
-Cash out and pay taxes and possibly penalties.
-Roll it over to a traditional IRA.

Benefits of rolling over your retirement to a traditional IRA include:

Simplicity - Consolidate your retirement assets into one IRA. It will simplify your record keeping and give you a better picture of your overall portfolio.

Eliminate Investment Overlap - Having several accounts can have you holding many of the same type of investments and cause you to be out of balance for your set of financial circumstances.

Wider Array of Investment Choices - It is very common for employer plans to have only a few investment options. Rolling assets into an IRA will literally give you thousands of investment choices.

Roth Conversions - Once your plan is rolled into a traditional IRA, you may be able to convert it to a Roth IRA. You can only convert to a Roth IRA if your income does not exceed $100,000 and you file a joint return if married.

Beneficiary Distribution Options - Many employer plans have very limited and rigid beneficiary distribution options, especially for non-spouse beneficiaries. Rolling your assets into an IRA offers many additional flexible distribution pay out options, such as the "Stretch IRA" (paying out the death proceeds over multiple generations of beneficiaries).

Each decision has its pros and cons. Contact a Tropical Financial Investment and Insurance services representative to schedule a no-cost, no-obligation appointment. The quality of your retirement years may depend on it.

Time for your DROP Rollover?

DROP (Deferred Retirement Option Program) has created great opportunities and questions for educators and state employees. As you near retirement, you'll soon be faced with the decision of how to rollover your DROP money. It's a critical step in your retirement plan and one that helps assure your comfort in the years to come.

The assistance of a dedicated professional can simplify the DROP rollover process. Working with a Tropical Financial Investment and Insurance Services Representative, you will be able to clearly see your current financial status, identify your future income needs and choose a DROP rollover that works with your complete retirement plan.

We can:

-Help you decide how to take your DROP distribution.
-Preserve the tax-deferred status of your DROP money.*
-Guide you through a number of rollover options.
-Provide you with a financial needs-analysis.
-Assist you with your DROP rollover from planning to implementation.

Take the worry out of your DROP rollover. Contact a Tropical Financial Investment and Insurance Services Representative to schedule a no-cost, no-obligation appointment.

*Representative is not a tax advisor. For information regarding your specific tax situation, please consult a tax professional.
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, IA 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the credit union, through the financial services program, to make securities available to members. FR070906-AD69