Popular Post Dave Baker Posted February 19, 2018 Popular Post Share Posted February 19, 2018 In five days I will be eligible to withdraw money from my 401(k) without incurring an early distribution penalty. Where does the time go? Be on the lookout for a 36-year-old red-headed man who started BenefitsLink. Individual was last seen 23 years ago. May have dyed hair and beard gray since last sighting. Bill Presson, K2retire, Mike Preston and 2 others 5 Link to comment Share on other sites More sharing options...
Belgarath Posted February 19, 2018 Share Posted February 19, 2018 I'll be eligible not too many months thereafter, but really, how far is $150 going to get me? I'd just be glad to have more hair - regardless of the color! Dave Baker 1 Link to comment Share on other sites More sharing options...
Tom Poje Posted February 19, 2018 Share Posted February 19, 2018 oh Dave, you are such a youngster. typical, thinking you are so special being able to avoid the penalty. Dave Baker 1 Link to comment Share on other sites More sharing options...
CuseFan Posted February 19, 2018 Share Posted February 19, 2018 Happy 59 1/2! Last year I hit 55 and a co-worker innocently enough said, "now you're eligible for early retirement", to which i responded, "what're you trying to tell me?" Dave Baker 1 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com Link to comment Share on other sites More sharing options...
BG5150 Posted February 19, 2018 Share Posted February 19, 2018 Now that we know your DOB, can I get your SSN and mother's maiden name? A PM will do. No need to publicly just throw it out there... Dave Baker 1 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
BG5150 Posted February 19, 2018 Share Posted February 19, 2018 11 minutes ago, CuseFan said: Happy 59 1/2! Last year I hit 55 and a co-worker innocently enough said, "now you're eligible for early retirement", to which i responded, "what're you trying to tell me?" Or, if you quit or get fired, you are exempt from the penalty, too! QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left. Link to comment Share on other sites More sharing options...
XTitan Posted February 19, 2018 Share Posted February 19, 2018 Bright side - You are still a long way from a trip to RMD-Land. Dave Baker 1 - There are two types of people in the world: those who can extrapolate from incomplete data sets... Link to comment Share on other sites More sharing options...
MoJo Posted February 19, 2018 Share Posted February 19, 2018 I feel old. I hit that milepost last year.... Two things about getting older: 1) It beats the alternative; and 2) (as my mother used to say) - "it ain't for sissies." K2retire and Dave Baker 2 Link to comment Share on other sites More sharing options...
Belgarath Posted February 19, 2018 Share Posted February 19, 2018 All kidding aside - are many young people coming into this industry these days? Back in the "old days" when I was just a pup, a lot of TPA organizations, insurance companies, etc., would take in people who knew nothing about qualified plans and train them. It seems like now, employers are less willing to train folks, and they all want someone who knows the business. Most of the TPA folks I see these days are 50+. I suppose at some point supply and demand will correct the imbalance. Link to comment Share on other sites More sharing options...
MoJo Posted February 19, 2018 Share Posted February 19, 2018 34 minutes ago, Belgarath said: All kidding aside - are many young people coming into this industry these days? Back in the "old days" when I was just a pup, a lot of TPA organizations, insurance companies, etc., would take in people who knew nothing about qualified plans and train them. It seems like now, employers are less willing to train folks, and they all want someone who knows the business. Most of the TPA folks I see these days are 50+. I suppose at some point supply and demand will correct the imbalance. Interesting observation - and one I hadn't thought about before. The truth of the matter is that in my "team" of 10 people, we have 252 combined years of experience with the youngest rapidly approaching 40 and the oldest (not me) well into RMD land but for being employed. Six of us are past the half century mark and three have notched another decade on top of that (with another not far behind). Within the broader organization (about 600 people in the retirement services division), the youngsters tend to be concentrated in the call center - which is a job to exit as rapidly as possible. Unfortunately, about equal numbers leave the company as remain, and of those who remain, many don't stay in the retirement services side of the business. I only hope enough remain to continue to service me through my retirement! Link to comment Share on other sites More sharing options...
Tom Poje Posted February 20, 2018 Share Posted February 20, 2018 so Dave - are you only allowed to use the Indian logo until 2019? Link to comment Share on other sites More sharing options...
K2retire Posted February 20, 2018 Share Posted February 20, 2018 There do seem to be quite a few folks in the same age range among my acquaintances in this business. (Dave, I'm right behind you.) Years ago, I recall working in a small office with about a dozen other women and thinking it was going to get really ugly when we all started getting hot flashes at the same time. The young people that I meet in the retirement business seem to be going into sales and investment advice more than administration. As we were looking for someone to add to our team last year, we only had one applicant who wasn't catch up eligible. Dave Baker 1 Link to comment Share on other sites More sharing options...
david rigby Posted February 20, 2018 Share Posted February 20, 2018 2 hours ago, K2retire said: ...catch up eligible. A new demographic category. K2retire and Dave Baker 2 I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
XTitan Posted February 22, 2018 Share Posted February 22, 2018 On 2/20/2018 at 6:57 AM, K2retire said: catch up eligible I had a hot dog last night that was ketchup eligible... AndyH and K2retire 2 - There are two types of people in the world: those who can extrapolate from incomplete data sets... Link to comment Share on other sites More sharing options...
Tom Poje Posted February 23, 2018 Share Posted February 23, 2018 sounds good. In fact I 'relish' the thought thinking about. Link to comment Share on other sites More sharing options...
Belgarath Posted February 23, 2018 Share Posted February 23, 2018 Boo. Hisss! Link to comment Share on other sites More sharing options...
Tom Poje Posted February 23, 2018 Share Posted February 23, 2018 it's Friday. I don't understand your griping unless you 'mustard' gotten out on the wrong side of the bed this morning to not appreciate humor at its lowest form but then, after all, I am-omeba so its the best I can do Link to comment Share on other sites More sharing options...
jevd Posted February 23, 2018 Share Posted February 23, 2018 I'm looking forward to 9/1/18 for my first maximum SS check. I'v been in this industry too long. I'm the only person in my office who has a pre-erisa break in service from a former job. All you folks are youngins. Bless you all. JEVD Making the complex understandable. Link to comment Share on other sites More sharing options...
MoJo Posted February 26, 2018 Share Posted February 26, 2018 On 2/23/2018 at 5:15 PM, jevd said: I'm looking forward to 9/1/18 for my first maximum SS check. I'v been in this industry too long. I'm the only person in my office who has a pre-erisa break in service from a former job. All you folks are youngins. Bless you all. I bow down in admiration - and hope I am not around as long as you! And where were you when I needed some pre-ERISA expertise for an abandoned plan I was working on????? Link to comment Share on other sites More sharing options...
AndyH Posted March 12, 2018 Share Posted March 12, 2018 Sounds like lots of people on these Boards are going to retire at the same time! Link to comment Share on other sites More sharing options...
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