As a fiduciary financial advisor in Glen Allen, Holland Capital helps VRS members a year or two from retirement compare the payout options they qualify for and pick one with the whole household in view. Glen Allen clients meet with us by video call and phone, or in person by appointment at the Alliance meeting center in Innsbrook.
A retirement date in sight. A VRS form with several payout choices. One election that is generally permanent.
Glen Allen has about 16,200 residents, and roughly 18% of them are 65 or older. Markel has its headquarters in Glen Allen, near the Innsbrook office park, and Henrico County schools and county government sit close by.
VRS lets members choose how their pension is paid. Depending on your plan, the menu may hold the Basic Benefit, a Survivor Option, a Partial Lump-Sum Option Payment (PLOP) and an Advance Pension Option. Some members will not see all four, and once payments begin the election is generally irrevocable. For a fixed fee, a written plan compares your choices before you file, with nothing to buy. Ask anyone helping with it if they are held to a fiduciary standard and what a lump sum would pay them.
Confirm Which Choices Are Yours
The payout options available to you depend on your VRS coverage and retirement circumstances, so we begin with your own benefit estimate.
Our VRS planning guide explains how the three plans differ.
Testing Each Payout Against Your Plan
For each option open to you, we run the household plan forward, showing monthly income, savings, Social Security and Virginia tax year by year.
A PLOP pays part of the retirement benefit as a lump sum at retirement and reduces the monthly benefit. Our guide to pension choices for public employees covers that trade-off.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Giving a Lump Sum a Job
If you take a PLOP, the plan shows whether that money pays off debt, sits in cash or stays invested. Our investment management is optional afterward and would begin by turning your plan into a written investment policy statement.
How We Work with Clients in Glen Allen
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 the most recent VRS member statement and benefit estimate, any deferred compensation or savings statements, your spouse’s retirement details if married and a Social Security estimate.
You receive a side-by-side written comparison of each payout you qualify for, with our recommendation and reasons, at a fixed fee settled before starting. Filing and everything after it are yours to handle, alone, with an existing advisor or with us.
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 Glen Allen primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Alliance meeting center at 4101 Cox Road, Suite 200, in Innsbrook.
For clients whose investments we manage, accounts are held directly at Charles Schwab in the client’s own name. Holland Capital manages the investments but does not take custody of client assets. If a client ever needs in-person assistance from Schwab, the closest branch is in Glen Allen at 11108 West Broad Street.
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
How Do I Choose Among My VRS Payout Choices?
Confirm what VRS shows for you, then weigh each choice against your other income, your savings and anyone who relies on your pension. No single choice suits every member, so we set the numbers side by side.
Why Ask a Fiduciary Financial Advisor About a VRS Election?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. On a pension election, that means we judge each choice by what it does for your household, whether or not any money comes to us.
Our planning fee is fixed and agreed before work starts, and managing investments for you later, a PLOP included, would carry a separate fee, laid out before you decide.
Can We Meet in Person in Glen Allen?
Yes. We meet by appointment at the Alliance meeting center at 4101 Cox Road, Suite 200, Glen Allen, in Innsbrook.
Video and phone calls handle everything else.
Photo: Packer1028 / Wikimedia Commons / CC0, cropped.
