Amanda Devilbiss
Deferred Comp
May 28, 2009
Seminar provided by ING Financial Advisers, LLC (member SIPC).
©2006 ING North America Insurance Corporation
C07-0613-011 (07/07)
How to get back in the game.
Get it together.
3
Get moving.
©2006 ING North America Insurance Corporation
Step 1: Get it together.
• It’s not about you.
• Stress can be bad and good.
• Take a lemon and
make lemonade.
4
©2006 ING North America Insurance Corporation
Know the game plan.
Last day?
Action
required?
Review with
advisor?
Special
requirements?
5
©2006 ING North America Insurance Corporation
What’s
included?
Run down the checklist.
6
©2006 ING North America Insurance Corporation
Run down the checklist.
7
©2006 ING North America Insurance Corporation
You make the call.
Decide what to do with employer-sponsored
retirement savings.
Cash out
8
Stay put
©2006 ING North America Insurance Corporation
Take along
Cash out and strike out.
Why?
• Cash in hand, but at a
hefty price
Why not?
• 20% federal income tax
• Additional taxes, based on
tax bracket
• Loss of potential growth
• Can’t put it back
9
©2006 ING North America Insurance Corporation
Should money stay put?
Why?
Why not?
• It’s allowed
• Contributions have stopped
• Simple, do nothing
• Maintains tax deferral
• Investment options
• Low Fees
• Access, with out penalties
if needed
10
©2006 ING North America Insurance Corporation
Points for taking money along.
Why?
Why not?
• Consolidate all your assets
• Maintain tax deferral
• May not be able to
consolidate your assets
• Possible higher costs
• Investment choices
• More paperwork
• Other attractive options
• Possible limited options,
choices
• Possibly lose 457 (b) status
11
©2006 ING North America Insurance Corporation
How to manage in the stretch.
• Use severance,
unemployment benefits
• Look for other sources
of money
• Restructure debt
12
©2006 ING North America Insurance Corporation
Step 2: Get moving.
• Keep same career?
• Upgrade your career?
• Go back to school?
• Start your own business?
13
©2006 ING North America Insurance Corporation
Get valuable coaching.
Seek advice on:
• Presenting your
work history
• Interview skills
• How to meet
employers
• Where to find out
about jobs
14
©2006 ING North America Insurance Corporation
Keep swinging…
With these job search tips.
• Looking for work is
your new full-time job
• Network
• Join professional groups,
volunteer
• Always follow up
• Stay connected
15
©2006 ING North America Insurance Corporation
Talk a good game – and mean it…
With these interview tips.
• Practice with a friend
or career coach
• Know what points you
want to make
• Be prepared for tough
questions
• Use examples
• Ask good questions
16
©2006 ING North America Insurance Corporation
Touch all bases by using resources.
• Internet – user groups,
job sites, company sites
• Job fairs
• Search firm, recruiter
• State dislocated workers
units, unemployment
office
• Who you know
17
©2006 ING North America Insurance Corporation
Go the distance.
Understand your
benefits and use them.
18
Be a job
search pro.
©2006 ING North America Insurance Corporation
What’s next?
Time to take action.
Read on the topic.
Contact your Benefits Manager.
Check the Internet.
Consult your Deferred Compensation
Representative.
19
©2006 ING North America Insurance Corporation
©2006 ING North America Insurance Corporation