Financial Planning for Dominion Employees
Are you thinking about electing a supplemental retirement annuity or rolling over your pension into an IRA?
There are several key factors involved in analyzing how your pension funds might be distributed. In addition to financial considerations, there are also important psychological and lifestyle factors that should also be taken into account.
Our Areas of Expertise:
- Mega Back-Door Roth Contributions & Conversions
- Pension analysis
- Stock compensation optimization
- Employee Stock Purchase Plan (Dominion Energy Direct)
- Portfolio structuring & investment management
- Cash flow management
Mega Back-Door Roth Contributions & Conversions
Dominion offers this feature as an optional benefit for employees through their 401(k) plan. It’s a sophisticated tax-saving strategy that allows you to make after-tax contributions to your 401(k), which can then be converted to a Roth IRA or Roth 401(k).
Why does this matter?
By using after-tax contributions, you may be able to save more in your workplace retirement plan beyond the standard annual limits for pre-tax and Roth contributions.
Please note that Bogart Wealth is not affiliated with or endorsed by Dominion.
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