Questions about your pension, 403(b), 457, retirement planning and working with After Class, answered without the financial jargon.
Not necessarily. Your options depend on the providers and investment platforms approved by your employer's 403(b) plan.
If you already own an annuity, we'll help you understand the contract, expenses, surrender provisions and available alternatives before you make a change.
An annuity is an insurance contract that may include features such as guarantees, lifetime income options or death benefits. It may also include insurance expenses, surrender provisions and other contract costs.
A diversified investment portfolio typically uses mutual funds or other investments available through your plan and may provide greater investment flexibility.
Neither is automatically right or wrong. The question is whether the features, costs and investments make sense for your retirement plan.
Your costs may include investment expenses, administrative or platform fees, advisory fees and, in some annuity contracts, insurance or optional benefit charges.
If you aren't sure what you're paying, bring us your latest statement or contract information and we'll help you identify the applicable costs.
Some annuity contracts charge a fee if you withdraw or transfer money during a specified period. The charge may decline over time according to a surrender schedule.
Before recommending a change to an existing annuity, we review applicable surrender provisions along with the potential benefits and costs of your available options.
It depends.
Your plan options, investment choices, fees, taxes, pension, retirement age and other savings all matter. A governmental 457(b) can also have different distribution rules than a 403(b), which can be especially important for educators considering retirement before age 59½.
Rather than automatically choosing one account over the other, we look at how both fit into your complete retirement strategy.
If you're eligible for both plans, you may be able to contribute to both. Because 403(b) and 457(b) plans generally have separate contribution limits, this can create additional retirement-saving opportunities for some educators.
Your eligibility and applicable limits depend on your plans and circumstances.
Every school district, college and university plan is different. The available providers, platforms and investments are determined by your plan.
Tell us where you work and we'll help you understand the options available through your employer.
Your pension can provide an important source of retirement income, but it may not cover everything.
Your 403(b), 457, IRAs and other investments can provide additional income and flexibility for expenses, taxes, healthcare, travel and other retirement goals.
We help you look at all of these resources together instead of planning each one separately.
Yes. We can help you evaluate your projected pension benefit, retirement eligibility, potential retirement dates and available payout options, then incorporate that income into your broader retirement plan.
Yes. We work with Texas educators to understand their TRS pension benefits and coordinate those benefits with their 403(b), 457, investments and Social Security.
That's one of the most important questions we help answer.
We look at your projected pension, retirement accounts, Social Security, spending needs, taxes and other financial resources to estimate how different retirement dates could affect your plan.
Sometimes the difference between retiring this year and working another year or two can be significant.
Possibly. Social Security eligibility depends on your work history and circumstances.
Recent changes to federal law eliminated the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO), which previously reduced Social Security benefits for many public employees receiving pensions from work not covered by Social Security.
We can help incorporate your estimated Social Security benefits into your retirement plan.
Retirement doesn't automatically mean you need to move your account.
Depending on your plan and circumstances, you may be able to leave the assets in the employer plan, roll eligible assets to an IRA or another eligible retirement plan, or begin taking distributions.
We can help you compare the available options, including investments, expenses, services, withdrawal flexibility and tax considerations, before making a decision.
Yes. After Class works with educators and employees of school districts, colleges and universities.
Higher-education retirement benefits can differ from K–12 benefits and may include combinations of pension plans, optional retirement programs, 403(b)s, 457(b)s and other employer-sponsored retirement accounts.
We help you understand the benefits available through your employer and coordinate them with the rest of your financial plan.
No.
After Class was built to help educators at different stages of their careers. Some clients come to us for a one-time Foundation Plan, while others want ongoing financial planning or investment management.
We'll help you determine which level of service, if any, makes sense for you.
Not necessarily.
Our Foundation Plan is a one-time financial planning engagement and does not require you to move your investments to us.
If you choose investment management, we'll explain which accounts we're able to manage and what would be involved before you make a decision.
No.
The Foundation Plan is designed as a standalone financial planning engagement. After completing your plan, you can choose to implement the recommendations yourself or work with us for ongoing planning or investment management.
No. We're based in El Paso and can meet with educators virtually where we're appropriately registered or exempt from registration.
Absolutely, and in many cases, they should be.
Retirement decisions often involve both spouses' income, retirement accounts, Social Security, insurance, taxes and estate planning. When appropriate, we can build the plan around your household rather than looking only at your educator benefits.
Start with whatever you have.
Helpful documents may include your latest 403(b) or 457 statement, pension estimate, Social Security estimate and information about other retirement or investment accounts.
Don't delay scheduling a conversation because you don't have everything. We can help identify what we'll need as we go.
When providing investment advisory services, we have a fiduciary duty to act in our clients' best interests.
That means our advice should be based on what we believe is appropriate for your goals and circumstances, not simply on selling you a financial product.
Our advisory fees and potential conflicts of interest are disclosed to clients so you can understand how we're compensated.
Members of our team are licensed insurance agents. When insurance is appropriate to a client's financial plan, we can help obtain coverage and may receive compensation from the insurance company.
Any insurance relationship and associated compensation will be disclosed, and clients are not required to purchase insurance through us.
Our Foundation Plan starts at $3,000 and provides a comprehensive, one-time financial plan.
Ongoing planning and investment management are separate services with fees based on the relationship and services provided. We'll explain the applicable fees before you decide to work with us.
In some cases, yes.
Certain employer-sponsored retirement plans provide platforms or arrangements that allow an investment adviser to manage eligible accounts while you remain employed.
Availability depends on your employer's plan and approved providers. We'll review your plan to determine what options are available.
Not automatically.
Before recommending any change, we look at what you currently own, including applicable guarantees, insurance features, expenses, surrender provisions, investment options and how the account fits into your overall retirement plan.
Sometimes keeping an existing contract may make sense. Sometimes another option may better fit your needs. Our job is to help you understand the tradeoffs before you decide.
Start with a conversation.
You don't need to understand your pension, know what your 403(b) fees are or have every financial document organized before contacting us.
Tell us where you work, where you are in your career and what questions you have. We'll help you determine the next step.
