Financial Planning for Union Members
Supporting Hardworking Men and Women
When you work with Pereira Wealth Management, we can help union members make the most of what you’ve accomplished by maximizing the potential of their pension plans, benefits, and lifetime savings. Meanwhile, we help Unions provide beneficial investment options, financial planning, investment review, income planning, education, and more for their members.
Services Designed for Union Members
Helping Members Get More From Their Retirement Savings
401(k) Savings Plan Investment Review
We review and analyze Union members’ 401(k) contributions and investment allocation. We’ll compile a detailed report outlining our findings and recommendations for improving asset allocation and their portfolio’s overall performance. Then, we’ll be present for every subsequent step as we guide your members through important financial decisions.
Retirement Income Planning
To adequately plan for retirement, Union members need to know how much money they need in order to retire confidently. Pereira Wealth Management’s Financial Planners will help your retiring members determine how much need along with their projected income based on their pension, disbursement options, and liquidation strategies.
IRA 72(t) Income Distribution Analysis (SEPP)
We can help Union members find effective tax strategies relevant to their situation, such as enabling them to withdraw their retirement funds without incurring the typical 10% penalty. We look for appropriate tax strategies to help members keep more of what they’ve earned and saved, such as taking substantially equal periodic payments (SEPP).
Explore Net Unrealized Appreciation (NUA)
We offer Net Unrealized Appreciation (NUA) consultations and services for employees who hold company shares. This is a savings plan stock distribution option that can help enable members to take possession of their shares without rolling them over into an IRA. When suitable, this option can generate both long-term capital gain and tax advantages.
Pension Annuity
vs Lump Sum
The distribution method that members choose for withdrawing from their pension fund can have a profound impact on their finances. We help Local Union members understand the benefits and drawbacks of annuity and lump sum pension payments. They’ll be empowered to make informed, confident financial decisions in support of their goals for retirement.
Investment Portfolio Review Analysis
We offer a careful review and analysis of Union members' investment portfolios, after which, we’ll provide a detailed report and help them understand how those investments are performing. Then, we’ll discuss ways to help enhance their portfolio performance by optimizing their strategy of asset allocation among cash, bonds, and stock.
Navigate Retirement with Confidence
Retirement strategies can be complex. Our financial professionals are here to guide you through the process, providing you with the information you need to help make informed decisions about your future.
Frequently Asked Questions
Financial planning is valuable for everyone, regardless of income level. Union members often seek our services to address questions like these:
How much money will I actually need to retire comfortably?
The amount you need to retire comfortably depends on your desired lifestyle, current expenses, health care needs, and other personal factors. A common guideline is to aim for 70-80% of your pre-retirement income each year, but it's best to create a detailed budget and consider potential changes in spending. Consulting with a financial advisor can help you determine an amount tailored to your situation.
When is the optimal time for me to retire to maximize my benefits?
The right time depends on your union pension plan, your Social Security eligibility, and your personal savings. Waiting longer often increases your monthly benefit, but your health, your job, and your family matter too. We review your plan documents and pension estimates with you and show how different retirement dates could change your income, so you can choose the date that fits your life.
Am I doing everything I can to maximize my Union and employer benefits?
Start by making sure you understand every program open to you, including your pension, your 401(k), health insurance, and supplemental benefits. It's easy to overlook something when no one has walked you through it. We review your benefits and statements with you, explain your options in plain language, and point out choices you may want to look at more closely.
Will my investments and savings be enough to last throughout my retirement?
Assessing whether your investments and savings are sufficient requires reviewing your expected expenses, sources of income, and investment performance. Consider factors like inflation, health care costs, and potential changes in your lifestyle. Periodic reviews with a financial planner can help you adjust your strategy along the way, with the goal of making your savings last as long as you need them.
How can I improve my investment allocation strategies?
Improving your investment allocation begins with understanding your risk tolerance, time horizon, and retirement goals. Diversifying your portfolio, rebalancing periodically, and staying informed about market trends can help. Consider speaking with a financial advisor for recommendations tailored to your needs.
What planning advice is available regarding insurance, taxes, or other financial matters?
Retirement touches more than your pension. We look at how insurance, taxes, and estate planning fit with your retirement income, and we coordinate with your attorney and tax professional so everyone is working from the same plan. We do not provide tax or legal advice, but we help make sure those pieces are not left out.
How can I get independent, personalized advice that considers my specific situation?
That is what we do. Pereira Wealth Management is an independent firm, and Nuno Pereira is a fiduciary and a Certified Trust and Fiduciary Advisor (CTFA) who specializes in working with union members and their families. We don't earn commissions, and we tell you up front what you can expect to pay. Bring your pension estimate, your 401(k) statements, and your goals, and we'll start from your situation. Call 877-997-7113 or send us a message.
Our Services
We specialize in retirement and financial planning services for Union members nationwide. We also offer consulting services, investment planning, and other key financial services for Union members.
About Us
Our firm specializes in serving the unique needs of hardworking Union members like you, helping you plan confidently for the retirement you desire. You can feel confident that we have your specialized situation, and needs, in mind.
Contact Us
With Pereira Wealth Management, you can get more from your Local Union and employer benefits. We specialize in supporting Union members, and beyond, to help plan for and enjoy a confident retirement.