For more than 23 years, Powell Financial Group has helped Verizon employees and retirees traverse the often complicated road to retirement. We are here to make that transition clear and provide a needed check and balance system as you negotiate the myriad of choices required in the process.
Working with both management and hourly employees, we know that every situation is unique. We recommend that before you jump into the often overwhelming amount of paperwork and questions which lie ahead in your Verizon retirement course, you call our office for assistance. Please rest assured that the utmost confidentiality is honored every step of the way.
On your path, we can help you understand:
- Defined benefit plan versus cash balance plan
- How to estimate your pension value
- The advantages and disadvantages of monthly annuity versus lump sum payouts
- Tax rules for retirees under the age of 55, between 55 and 59½, and over 59½.
- Interest rates which can affect lump sum values (GATT, PBGC, PPA, and Treasury)
- When and how the Pension Benefit Guarantee Corp. affects your pension
Have you been RIF'd? What now?
- Call David Powell for a complimentary consultation to review your current employment status and direction
- David will walk you through the step-by-step process required, request illustrations, help initiate your retirement and assist in deadlines
- Have your supervisor sign the Vacation Buyout Form
- Sign the Separation Agreement & Release (after appropriate review)
- Submit paperwork after calculations and analysis have been considered
If you would like to meet with David and his team at Powell Financial Group, please either e-mail Janice Dorman (Janice@powellfg.com) to set up an appointment or call our office.
We look forward to taking the time to listen to your unique situation and supporting you along the way.
Powell Financial Group is neither endorsed by nor affiliated with Verizon.