As a fiduciary financial advisor in Murfreesboro, Holland Capital helps public school teachers in the TCRS Hybrid Plan decide how much to save beyond the required contributions to their pension and 401(k). Murfreesboro clients meet with us at a Regus office on Medical Center Parkway by appointment, with video calls in between.
A pension piece. A 401(k) piece. A question about whether that is enough.
Rutherford County Schools and Murfreesboro City Schools together employ almost 8,000 people. The median age in Murfreesboro is about 32, and about 43% of adults 25 and older have at least a bachelor’s degree.
If you are a full-time Tennessee public school teacher hired on or after July 1, 2014, you are generally in the TCRS Hybrid Plan. It combines a TCRS pension benefit with a 401(k). Your required contributions go into both. The open question is whether to save more, and where. A fiduciary advisor should explain how they are paid before giving that answer.
How the Hybrid Plan Works
The Hybrid Plan combines a required TCRS contribution with a 401(k) contribution. We confirm the exact employee and employer amounts from your school system and your own statements.
The TCRS part pays a benefit based on your service and pay. The 401(k) part depends on what is contributed and how it is invested. Our guide to Tennessee state employee retirement planning covers TCRS in more detail.
Estimating What the Required Amounts Will Provide
We project the pension benefit from your service and salary history. We project the 401(k) from your current balance and the required contributions. Then we compare the total with the income you expect to need.
If there is a gap, we work out how much extra saving would close it, starting from today.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Where Extra Savings Can Go
You may be able to add to the 401(k) above the required amount. Your district may also offer a 403(b), a 457(b) or both, and an IRA is another option. We compare the choices on fees, investment options and whether pre-tax or Roth money fits you better.
Investing Your Share
Our investment management can manage your IRA and other savings you control, invested with your pension in mind.
How We Work with Clients in Murfreesboro
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 TCRS annual statement, your latest 401(k) statement, a recent pay stub and statements for any other savings.
We deliver a written plan that shows your projected pension and 401(k) income, any gap and how much extra to save each month.
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 Murfreesboro primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Regus center at The Avenue Murfreesboro, 2615 Medical Center Parkway, Suite 1560.
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 Franklin at 520 Cool Springs Boulevard.
We work with clients throughout Tennessee. You can see the other Tennessee 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 Is Holland Capital Paid?
We offer financial planning on a fixed-fee basis, subject to the scope of the engagement. Investment management is offered on a fee basis, generally calculated as a percentage of the assets we manage. When providing financial planning and investment advisory services, we act as a fiduciary. Holland Capital Management may also receive commissions when clients buy insurance through the firm. Those commissions create a conflict of interest, which we disclose in our Form ADV.
Why Talk to a Fiduciary Financial Advisor About the Hybrid Plan?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. For a teacher, that means the advice on extra saving starts from what your pension and 401(k) already provide.
If extra savings go into an account we manage, we are paid more, and we tell you before you choose.
Can Murfreesboro Clients Meet with Us in Person?
Yes. We meet at the Regus center at The Avenue Murfreesboro, 2615 Medical Center Parkway, by appointment.
School-year schedules are easier with video, which we offer too.
Photo: Jacob bloodaxe / Wikimedia Commons / CC BY-SA 4.0, cropped.
