Universal Union Benefits

Can I transfer my retirement monies upon leaving my employment with the government?

As a public employee, are my retirement monies “locked up”?

Contrary to what most people believe, monies that you have contributed to PERS, or deferred comp are transferable upon leaving the public sector. However, it is limited to the contributions that you made, not monies set aside by the government on your behalf. If you decide to transfer your funds, it is very important that you transfer these funds to a qualified account, such as an IRA, to continue enjoying the tax deferral status of these funds.

Should I transfer my retirement monies to an IRA when I leave my employment?

Yes. An IRA is an Individual Retirement Account. It gives the individual person control on how monies are allocated for growth. If you leave your retirement funds in the “group” fund, you may have less control.

How much does it cost to transfer funds from my group plan to an IRA?

Some financial houses will charge 3-4% for this transfer. Some banks will charge a flat rate. Universal Union Benefits NEVER charges a union member to transfer his/her funds to an IRA.

What are the advantages of an IRA?

Just like your tax deferred group retirement plan, an IRA offers tax deferred advantages as well. However, once you leave your employer, you are no longer eligible to make contributions to the group plan. With an IRA, you can make additional contributions each year, deductible from your taxes, up to maximums set by the IRS.

There is no obligation for this free consultation. Your information will only be used once to put you in touch with a Universal Union Benefits representative licensed by your state. The information will never be passed on to any other party.

CLICK HERE FOR A FREE QUOTE

Who is Universal Union Benefits?

Fred Silverman, who has recently retired as a Vice-President of the Central Ohio Labor Council for the past 23 years, is a Business Agent, along with his son, Greg Silverman. Fred has worked with unions for over 25 years in providing their members with insurance, and retirement needs. Greg joined forces with Fred in 1989.
The Entire Organization Is Proud To Be Members Of RWDSU Local 379.
We are also recognized by the Union Label & Service Trades Dept. AFL-CIO

Who are the carriers for our retirement funds?

Universal Union Benefits has teamed up with many of the companies that can eliminate losses in your retirement funds. Participants are free to choose the carrier that they are most comfortable with. Some of the carriers include American Equity, with over $6.9 billion in assets, Allianz with over $1 Trillion in assets, Amerus with over $21.8 billion, and ING USA with over $31 billion in assets.

How do we contact Universal Union Benefits?

We are always just a phone call, or email away. You may call us: 877-808-6466
We will arrange a time at your convenience to explain in great detail the benefit of our program to all involved.