Defined benefit plans—often called traditional pensions—can be a cornerstone of your retirement income. But navigating the rules, formulas, and payout options can be complex. At First State Financial Management, we help you make sense of your pension and integrate it into a broader retirement strategy that supports your goals.
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A defined benefit plan is a qualified employer-sponsored retirement plan that promises a specific benefit at retirement. Unlike 401(k)s or other defined contribution plans, your employer is responsible for funding the plan and ensuring it can pay out your promised benefit—regardless of market performance.
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Guaranteed retirement income based on salary, age, and years of service.
Funded primarily by your employer.
Tax-deferred growth until retirement.
Subject to federal rules under ERISA and the IRS.
Be aware that most pensions do not include cost-of-living adjustments.
We’ll help you:
Your defined benefit plan is a valuable asset—don’t leave it to chance. Contact First State Financial Management today for a personalized pension review and retirement strategy session.
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FDIC-Insured - Backed by full faith and credit of the U.S. Government
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