As a fiduciary financial advisor in Blacksburg, Holland Capital helps Virginia Tech faculty near retirement turn an Optional Retirement Plan (ORP) balance and their other savings into steady income, with no requirement to move the account. Blacksburg clients work with Holland Capital by video and phone.
A balance built over a career. No monthly benefit printed beside it. Retirement a few years out.
Blacksburg has about 45,100 residents, and only about 8% are 65 or older, a share shaped by the student population. About 69% of adults 25 and older hold a bachelor’s degree or higher. Virginia Tech has more than 5,000 employees, and Moog is another local employer.
Eligible faculty at Virginia’s public colleges choose between VRS, the state pension system, and the ORP within 60 days of hire, and the choice is generally irrevocable. If you chose the ORP, that benefit is an account balance rather than a set monthly pension. A fixed-fee written plan shows how much that balance and your other savings can pay each year, with no rollover required. Ask anyone offering help whether they serve as a fiduciary and how their pay is set.
Know What Your Plan Allows
Withdrawal options vary by plan and by how the account is held. We read your plan materials and confirm which methods are open while the money stays put.
Build a Yearly Income Figure
We start with yearly spending and subtract Social Security and other income. Your savings must supply the rest. Our guide to the 4 percent rule explains one common starting point and its limits.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Choose Which Account Pays First
Savings may sit in the ORP, an IRA or a taxable account. The order of withdrawals changes each year’s tax bill. Our tax-efficient investing approach sets that order with Virginia and federal taxes in view.
Investing What Stays
Money not needed for years can stay invested for growth. Your plan is written into an investment policy statement that sets the mix for each account. You can follow it yourself or with your current provider. Our investment management is available afterward, if you want it.
How We Work with Clients in Blacksburg
Holland Capital Management is an independent registered investment adviser and a fiduciary. M. Chad Holland, CFA, CFP® works directly with clients and is responsible for the planning and advice.
Bring your latest ORP statement, any other retirement or savings statements, a Social Security estimate, your planned final semester and your typical monthly spending.
The result is a written income plan at a fixed fee agreed first. Carry it out alone, with another advisor or with us, and the ORP account can stay where it is.
The first conversation is free. If there is work worth doing after that, we will define the scope and cost before you decide whether to move forward.
Our offices are in Charlotte, North Carolina and Winter Park, Florida. We work with clients in Blacksburg by video and phone.
We work with clients throughout Virginia. You can see the other Virginia communities we serve here.
Our what we do page explains how a planning engagement works.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Frequently Asked Questions
Do I Have to Roll Over My ORP Account to Take Income?
Not necessarily. Depending on plan rules, income may be possible while the account stays in place. A rollover is one option, with its own trade-offs, which we lay out before anything moves.
Why Does a Fiduciary Financial Advisor Matter for ORP Income?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. Our advice on keeping the ORP account where it is does not depend on whether the money comes to us.
Planning is billed as a set fee we agree on in advance. Managing your investments later would carry a separate charge, explained before you commit.
What Does Working Together Look Like from Blacksburg?
It happens by video and phone. Statements arrive through a secure upload, and meetings can fit around teaching, research and summer travel.
Photo: Smash the Iron Cage / Wikimedia Commons / CC BY-SA 4.0, cropped.
