As a fiduciary financial advisor in Kennesaw, Holland Capital helps newly hired university employees choose between the Teachers Retirement System and the Optional Retirement Plan. Planning happens by video and phone, with in-person meetings by appointment in downtown Kennesaw.
A new job. A retirement choice you make once.
Kennesaw is home to Kennesaw State University. The city’s median age is about 36, and about 12% of its workers have government jobs.
If you were just hired into an eligible salaried position in the University System of Georgia, you have a choice to make early. You can choose the Teachers Retirement System (TRS), a pension plan, or the Optional Retirement Plan (ORP), a defined contribution plan. Once made, the retirement plan election is irrevocable.
It helps to have someone on your side who is a fiduciary, and to know how that person is paid.
How the Two Plans Work
In both plans, you contribute 6% of your pay. TRS pays a monthly benefit based on your years of service and the average of your highest 24 months of earnings. You become vested after 10 years of service.
In the ORP, the University System also contributes to an account in your name, and you are vested right away. What you have at retirement depends on what goes in and how the investments perform.
The Questions That Decide It
How long do you expect to stay in Georgia public education? Would you rather have a predictable monthly check or an account you control? How comfortable are you choosing investments?
We model both plans with your salary and a few possible career paths, including leaving before 10 years.
The 60-Day Window
You must choose within 60 days of becoming eligible. If you do not choose, you are placed in TRS. Our guide to Georgia state employee retirement planning covers more of the state plans.
Beyond the Retirement Plan
Whichever plan you choose, other savings can build on it. We look at any optional workplace savings plans and your goals outside work. Our investment management covers the accounts you hold outside the university plans.
How We Work with Clients in Kennesaw
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 offer letter, the retirement plan enrollment materials from human resources, a recent pay stub and statements from any accounts at earlier jobs.
The result is a written comparison of TRS and the ORP for your situation.
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 Kennesaw primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Regus center at 2601 Summers Street in downtown Kennesaw.
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 Atlanta at 3260 Walton Riverwood Lane.
We work with clients throughout Georgia. You can see the other Georgia 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
Is TRS or the ORP Better for a New Kennesaw State Employee?
Neither is better for everyone. It depends on how long you plan to stay, your other savings and how you feel about investment risk. We show you both with your numbers.
Why Talk to a Fiduciary Financial Advisor Before Choosing a Retirement Plan?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. For a new university employee, that means a recommendation based on your career and goals, with your interests first.
Our planning fee is set before the work begins, and it does not depend on which plan you choose.
Where Do Kennesaw Clients Meet with Us?
At the Regus center at 2601 Summers Street in downtown Kennesaw, by appointment.
A video call can fit between classes.
Photo: Thomson200 / Wikimedia Commons / CC0, cropped.
