Employer Transition Checklist
A checklist to work through with clients when they change employers or careers. Topics like health care, retirement, insurances, etc. Perhaps a supplemental checklist of benefits to consider at the previous employer to not overlook. (i.e. retirement options versus employment severance.)
Comments: 17
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21 Jan, '19
Todd M.Changing jobs create opportunities for advice. When changing jobs, it is also a great time to reflect on financial planning (are you on track, are you saving enough), old 401k vs. new 401k vs. IRA rollover, do you have after-tax dollars to move to a Roth IRA? Insurance? Are you paying too much in fees?
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17 Jul, '19
James H MergedI see many under- or incorrectly- utilized employee benefits. Components could include: should I buy espp? Am I getting the full HSA match? Am I getting the full 401match? Should I enroll in deferred comp? Is Dental insurance worth it? etc etc etc. My primary interest here is checking for free money that they're leaving on the table - matches, stock purchase discounts, employee discount programs, etc.
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11 Dec, '19
Paula PMost of my client base are between ages of 45 - 70 and I am finding that late 40's and early 50's comes with a high correlation of career transition. A checklist would be helpful covering all items related to stock options, health care, 401k / 403b/ 457's as well as ancillary benefits such as HSA accounts.
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17 Aug, '20
Greg MergedThis would be great. Especially if it covered coordination of benefits for medical and dental plans.
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03 Nov, '20
Brian Case MergedNothing to add other than how useful this would be!
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01 Feb, '21
scott benjamin Mergedannual check in with retirement plan participants to find out what else they need help with (investment review, financial planning, estate planning, legal documents, life insurance, etc.)
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19 Feb, '21
Mike Admin Merged"Annual/Recurring" (suggested by joe on 2020-12-12), including upvotes (2) and comments (0), was merged into this suggestion.
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19 Feb, '21
Mike Admin Merged"Open Enrollment/ Annual Employee Benefit Review Checklist" (suggested by Nate on 2020-09-30), including upvotes (3) and comments (1), was merged into this suggestion.
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07 May, '21
Mike Admin Merged"Annual Readiness Survey for Retirement Plan Participants" (suggested by scott benjamin on 2021-02-01), including upvotes (2) and comments (0), was merged into this suggestion.
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07 May, '21
Mike Admin Merged"Employee Benefits Review Checklist" (suggested by James H on 2019-07-17), including upvotes (32) and comments (4), was merged into this suggestion.
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14 Oct, '21
David Deller MergedUpvoted - I currently reference the Transamerica "Employee Benefits Enrollment Checklist" Would love to see a FP checklist created for this client conversation as well.
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04 Nov, '21
Shannon Faye Moenkhaus MergedAlso would like to see a bit more detail around the retirement plan. Pre-tax versus Roth contribution? Additional after-tax contributions? What is the minimum contribution floor to optimize the employer match?
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04 Nov, '21
Shannon Faye Moenkhaus MergedAlso need to review beneficiaries for retirement plans, ESPP (as applicable), and company-sponsored Life Insurance!
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09 Jun, '22
ChrisGranger Admin"Open Enrollment Guide for Employees" (suggested by Ed Jastrem on 2021-10-14), including upvotes (5) and comments (3), was merged into this suggestion. Language from original suggestion: "Combination of Things to Consider for Changed Circumstances and Making the most of your employer benefits.
E.g. HSA, FSA, FSA for dependent care, group life, group disability, updating beneficiaries on group life or employer retirement plan.
Could wrap up some existing checklists from life insurance review, paystub review and probably others, too.
Could also include prompts to discuss topics with other professional advisors, e.g. review your 401k investment options, review your tax withholdings, should you be acquiring additional disability and life insurance through individually owned policies." Number of votes prior to merge = 7. -
09 Jun, '22
ChrisGranger Admin"Education for plan participants and employees" (suggested by Mike on 2021-05-07), including upvotes (35) and comments (8), was merged into this suggestion. Number of votes from this suggestion prior to merge = 35.
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09 Jun, '22
ChrisGranger AdminThis suggestion has been completed. Please reference the "What Issues Should I Consider With My Employer-Provided Benefits?" checklist. Thank you.
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09 Jun, '22
ChrisGranger Admin"Changing Jobs checklist" (suggested by Todd M on 2019-04-19), including upvotes (4) and comments (0), was merged into this suggestion.