As a fiduciary financial advisor in Mechanicsville, Holland Capital helps public-employee couples whose VRS benefits fall under different plans settle on a retirement date that works for the whole household. Mechanicsville households work with us over video and phone, and appointments to meet in person are held at the Regus center at Truist Place in downtown Richmond.
Two VRS careers. Two sets of plan rules. One household trying to pick a date.
Mechanicsville has about 39,500 residents, and roughly 76% of homes are owner-occupied. Hanover County schools and government employ local residents, and others commute to Henrico and Richmond.
Spouses who joined VRS at different times may be in different plans, such as Plan 1 or Plan 2 for one and the Hybrid Retirement Plan for the other. The Hybrid Retirement Plan combines a defined benefit pension with a defined contribution account and employer contributions. A date that suits one spouse’s plan may not suit the other’s. A fixed-fee written plan puts both on one timeline, and every account can stay where it is. Ask anyone helping you how they get paid and whether they act as a fiduciary.
Two Plans on One Page
We place both VRS benefit estimates side by side, with each pension at different dates and any Hybrid balance. We read your plans from your statements.
Our VRS planning guide explains how Plan 1, Plan 2 and Hybrid differ.
Testing Household Retirement Dates
You might both stop the same year, or one might stop first. Each version shows household income, savings and Social Security timing.
Our defined benefit pension guide covers how a pension sits beside other savings.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Giving the Hybrid Account a Role
The plan gives the Hybrid account a place in the withdrawal order next to the other spouse’s pension. Each spouse with a VRS pension also chooses a payout option at retirement. That election is generally irrevocable after retirement, with limited exceptions.
You may later choose our investment management for savings beside the two pensions, guided by an investment policy statement drawn from the household plan.
How We Work with Clients in Mechanicsville
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 both spouses’ VRS member statements and benefit estimates, any Hybrid account statement, other savings statements and two Social Security estimates.
You receive one written household plan with a recommended date for each of you, for a fixed fee agreed up front. Put it into practice yourselves, with someone who already advises you, 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 Mechanicsville primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Regus center at Truist Place, 919 East Main Street, Suite 1000, in downtown Richmond.
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
Should We Both Retire in the Same Year?
It depends on each plan’s terms, your ages, your savings and what you each want. Staggering can let one pension start while the other spouse keeps earning. We test both ways and show you the trade-offs.
How Does a Fiduciary Financial Advisor Help a Two-Plan Household?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. For a couple in two VRS plans, the date we recommend is the one that serves you both, not one that moves money to us.
Your plan is billed as a fixed fee agreed beforehand, and investment management, if you request it later, is priced separately with the cost set out before you decide.
Is There a Place to Meet Near Mechanicsville?
There is, in downtown Richmond. We meet by appointment at the Regus center in Truist Place, 919 East Main Street, Suite 1000.
Much of the planning is done by video or phone.
Photo: Robshenk / Wikimedia Commons / CC BY-SA 3.0, cropped.
