Retirees and Part-Time Work: Navigating the Tax Complexities
Businesses everywhere face the challenge of finding and retaining valuable employees. To fill these gaps, many employers are turning to retirees. With years of experience, institutional knowledge, and for many a desire to stay busy while earning income, they are an excellent candidate to help bridge the employment gap. Confronted with the offer of highly […]
What’s the best lockheed martin pension benefit option?
Our Lockheed Martin clients in the Syracuse and Owego plants often ask for our recommendation on how to elect their pension payment. Take the hypothetical example: John works at Lockheed Martin in Syracuse and his life only pension benefit is $5,000/month, or $60,000/year. At the other extreme, his 100% survivorship benefit is $4,000/month, or […]
Lockheed Martin 401(k) plan fund changes
Lockheed Martin announced a change to their current 401(k) plan lineup. Aside from some funds being renamed, the major changes are: Retiring the Global Real Estate Fund. This eliminates exposure to REIT’s in the plan unless you invest in a Target Date Fund Retiring the Emerging Markets Indexed Equity Fun. This change eliminates exposure to […]
Lockheed Martin resources
A good portion of our clients are employees of Lockheed Martin’s plant in Syracuse. As a result, we receive a lot of questions about Lockheed’s Martin benefit program, 401(k) allocation, etc. We took some time and did a deep dive into their benefits package and highlighted some areas you don’t want to overlook if you […]
How to save additional tax advantaged money in the Lockheed Martin 401(k) plan
A common question we receive from clients: “How can I save more money in a tax advantaged way?” Fortunately, if you are an employee of Lockheed Martin you have a unique opportunity. As us nerds call it, the “Mega Backdoor Roth IRA” is a strategy available in 401(k) plans that allow for after-tax 401(k) contributions […]
Are There Better Options Than the Lockheed Martin Target Date Funds?
The default investment option for the Lockheed Martin Salaried Savings Plan (SSP) and the Capital Accumulation Plan (CAP) is the managed Target Date funds. A Target Date fund is designed to capture the entire investment market in a single fund. In addition, as you approach retirement, the Target Date fund becomes less and less risky. […]
Lockheed Martin MST Voluntary Layoff Program
Lockheed Martin MST recently announced the upcoming Voluntary Layoff Program with the goal of reducing the divisional workforce by 1,500 employees. If you are considering retirement and are eligible for the Voluntary Layoff Program, it may make sense to deeply consider the options. As with all retirement and transition decisions, there are two main components: […]
Rockbridge Understands You – Lockheed Martin
When evaluating a financial advisor, the most important factor is that they truly understand you as a person and your personal situation. At Rockbridge, we have a dedicated focus in working with clients that are employees of Lockheed Martin. Because of this, we already have an expertise in all employee benefits plans and how each […]