LCMC Blog [Retirement/Benefits Topic] http://lcmc.net/blog/feed?topic=64 Read the the latest news, announcements and articles from LCMC. en-us Retirement Consultations to Be Offered at Annual Gathering http://www.solapublishing.com/blog/retirement-consultations-to-be-offered-at-annual-gathering/a573.html Tue, 15 Jul 14 00:00:00 +0000 At the 2014 Annual Gathering in Des Moines Iowa, you will be able to learn more about how to plan for your retirement.  Planning should start early, when you still have time to prepare and save. But, no matter what your age or how far off your retirement is, you can benefit from the information available to you through LCMC. 

Tom Luing of Capital Management Associates, will be available at the Annual Gathering to meet one-on-one with you about your retirement readiness. 

Contact Tom Luing by phone at (952) 746-1111 or via email at toml@tomluing.com to schedule a time and find out what to bring with you. 

Space is limited, so sign up soon! 

Tom will also be conducting three Breakout Sessions on retirement on Monday and Tuesday of the Annual Gathering. 

See you in Des Moines! 


Not attending the annual gathering?  If you are not attending the annual gathering, feel free to contact Tom to discuss your financial situation and/or the LCMC 403b Retirement plan any time. Click here for more info.

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LCMC 403(b) Retirement Plan Update http://www.solapublishing.com/blog/lcmc-403(b)-retirement-plan-update/a538.html Mon, 07 Apr 14 00:00:00 +0000 The Retirement Plan has added new Roth provisions as well as 2 new investment fund options. 
 

Roth Provisions: 

Roth After-Tax Contributions: 
Participants may contribute Roth after-tax contributions to their plan account.  With Roth contributions, the dollars going into the plan have already been taxed, thus, no tax when withdrawn at retirement. Earnings of Roth contributions are tax-free when withdrawn at retirement when held for 5 years or more.

Roth In-Plan Conversions:
This provision allows you to elect to change the tax treatment of all or a portion of your pre-tax account.  Participants may transfer vested, pre-tax contribution in their account to a Roth after-tax contribution account within the retirement plan. Please note - a conversion will result in taxable income being reported to the participant.

New Investment Fund Options:

Eaton Vance Floating Rate Fund – a Floating rate bond fund
The funds investment objective is to provide a high level of current income. Under normal circumstances, the Fund invests at least 80% of its total assets in income producing floating rate loans and other floating rate debt securities. The Fund invests primarily in senior floating rate loans of domestic and foreign borrowers.  The interest rate on these loans “floats” so this may be a good investment in a rising interest rate environment.

Eventide Gilead – a Mid-cap Growth fund
This fund seeks to provide long-term capital appreciation. Normally, the Gilead Fund invests primarily in a broad range of equity securities without limitation to market capitalization. The Advisor seeks to invest in companies that reflect the following values:
  • Respecting the value and freedom of all people; this includes the right to life at all stages and freedom from addictive behaviors caused by gambling, pornography, tobacco and alcohol.
  • Demonstrating a concern for justice and peace through fair and ethical relationships with customers, suppliers and business partners and through avoidance of products and services that promote weapons production and proliferation.
  • Promoting family and community; this includes protecting children from violent forms of entertainment and also includes serving low income communities.
  • Exhibiting responsible management practices, including fair-dealing with employees, communities, competitors, suppliers and customers as demonstrated by a company’s record regarding litigation, regulatory actions against the company and its record of promoting products and services that improve the lives of people.
  • Practicing environmental stewardship
Have questions about the plan?  Click here to learn more. 
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Socially Responsible Fund Update http://www.solapublishing.com/blog/socially-responsible-fund-update/a493.html Thu, 26 Dec 13 00:00:00 +0000
There is an entire subset of the investment industry called socially responsible investing.  I became initially interested in this over 25 years ago as I was attending Gustavus Adolphus College and taking an Ethics in Business course.  I wrote my term paper on socially responsible investing – this was back when it was in its infancy.  The industry has progressed now from overall social responsibility to more specific guidelines about environmental, social, and governmental (ESG) criteria.  And now there are even further subsets of that with investment criteria aimed at specific ESG criteria and/or specific investment criteria.
To answer the request, we researched various investment options and determined there was a socially responsible fund that we should add to the investment lineup in the plan.  The Neuberger Berman Socially Responsive Fund was recommended and subsequently approved by the LCMC Investment Committee to be added to the fund.  It was officially added in September 2013.

The Neuberger Berman Socially Responsive Fund (symbol NRAAX) believes that corporate responsibility is a hallmark of quality and has the potential to produce positive investment results so it invests in companies that follow principles of good corporate citizenship. The fund focuses on companies that are responsive to environmental issues; are agents of favorable change in workplace policies; are committed to upholding universal human rights standards; and are good corporate citizens.  In addition, the Fund avoids companies with products with negative public health implications such as tobacco, alcohol, weapons, and nuclear power.

Further information can be found on the Fund Information page on your private LCMC retirement plan website or at www.nb.com and look up the Socially Responsive Fund.]]>