As a fiduciary financial advisor in Lynchburg, Holland Capital helps nuclear-industry professionals near retirement who hold pension benefits and workplace accounts from more than one employer decide how each one should pay out, and in what order. Holland Capital serves Lynchburg clients by video and phone.
A pension earned at one company. Savings plans left at others. Each with rules of its own.
About 14% of Lynchburg’s roughly 81,300 residents are 65 or older. Median household income is close to $58,000, and homes have a median value close to $230,000. Local employers include BWX Technologies, Framatome, Centra, Genworth, Liberty University and L3Harris.
A change of employer can leave behind an old savings plan and, for some employees, a pension benefit not yet started. Each benefit has its own rules for when and how it can be paid, and those choices can interact. Depending on the plan, some cannot be undone once checks begin. A fixed-fee written plan sets every benefit side by side, so you can decide in order. Before following anyone’s advice, ask if they act as a fiduciary and how they are paid when you say yes.
Take Stock of Each Former Employer
For every employer, past and present, we record any pension earned, any savings balance and who runs each plan. Our defined benefit pension guide explains how these plans work.
Weigh Each Payout Option
Some plans pay monthly for life, with or without a payment that continues to a spouse. Some also allow a lump sum. We model only what your plans offer and show the effect on income, taxes and what stays invested. Our article on the pension or the lump sum covers the trade-offs.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Set the Sequence
One benefit might begin at retirement, another a few years later and Social Security later still. We test several sequences and show the yearly income of each.
Pension and retirement-account income is generally taxed by Virginia when it is part of federal adjusted gross income, unless a state subtraction applies. It does not tax Social Security.
Who Handles the Next Steps
You can act on the plan alone or with an advisor you trust. Ongoing investment management from us is a later, separate option.
How We Work with Clients in Lynchburg
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 every pension statement or benefit estimate from past and current employers, the latest balance of each savings plan, a Social Security estimate and any letters listing payout choices.
For a fixed fee settled before work begins, you receive a written plan that ranks your payout choices and their timing. Nothing has to move to 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 Lynchburg 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
Should I Start an Old Pension as Soon as I Can?
Not necessarily. The right date depends on what each plan pays at different ages and what other income you have.
What Does a Fiduciary Financial Advisor Add to Pension Decisions?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. With pension choices, we may favor the monthly payment even when a lump sum would have given us money to manage.
The plan is one flat price, agreed before we begin. Managing accounts for you later is billed separately, and we name that fee before you decide.
Can We Work Together from Lynchburg?
Yes. Meetings happen by video and phone. Pension letters and statements reach us through a secure portal, and we schedule around your week.
Photo: Johnny Lynch / Wikimedia Commons / CC BY-SA 4.0, cropped.
