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Avraham "AY"  Rappaport, CLTC

President, Financial Professional

 

Yaniv "Jay" Natanov

President, Financial Planner

 

Eli Rappaport

Vice President, Financial Planner

 

Shlomo Rosenstein

Financial Professional

 

Ozzie Marizan

Financial Planner

 

Joseph Greer

Employee Benefits Administrator

 

Dylan Pinsky

Client Relations Manager

 

Premier Financial

6395 Dobbin Road, Suite 102

Columbia, MD 21045

 

Phone:  240-309-6001

 

Email: dylan.pinsky@prudential.com

Website: premierfinancial1.com

March/April 2023

Is a New Employer in Your Future

Congrats you got the job, a message inside a brown envelope. New job or employment concept.

Starting a job at a new company can be an exciting opportunity. Before you clean out your desk and say good-bye to your coworkers, review the items on the checklist below.


Your Retirement Account.
You can:
  1. Leave the money in your former employer's plan, if the employer allows;

  2. Have funds directly transferred to your new employer's plan or an IRA. Consider rolling over HSA funds to your new health account as well;

  3. Cash out of the plan. However, if you opt for cash, you need to pay income taxes at your ordinary rate and if you are younger than 59 1/2, you will pay a 10% penalty.


Stock Options.
If stock owneship is part of your compensation find out the stock type, tax implications, vesting schedule, and what will happen to the stock if you leave the company.


Benefits.
Review your new employer's insurance and benefit plans to determine if benefits match what you currently have.


Flexible Spending Account.
Use any money left in your FSA before you leave the company so you don't lose it.

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Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Dylan Pinsky is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
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