The flexibility
and earning potential of your Albany Medical Center or
other 403b Retirement Plan are threatened by upcoming tax
law changes.
Fortunately,
there is something you can do to protect yourself.
Currently, you can choose anybody to invest your AMC 403b
monies in almost any mutual fund you’d like. But
starting on January 1, 2009, proposed Treasury Department
regulations will prohibit transfers out of your existing
AMC 403b plan to any outside advisor. This will shrink
your available investment options from more than 8,000
mutual funds, including the most successful in the world,
to less than 100.
Again, current tax law DOES permit such transfers. For
this limited period, you may transfer your entire current
account balance and future contributions to a new 403b
plan outside of AMC. Transfers are not taxable and most
transfers would incur no penalties or fees.
Wouldn’t you like to have the potential for dramatic
gains in future account growth, lower fees, and lower investment
risk? These are among the advantages you may gain through
careful selection from the very best funds in the world
and the careful management of those funds.
You still have time to learn what’s
at stake and take action to protect your options.
The proposed regulations ar e now final. Treasury
has made it clear that they will implement the
first comprehensive changes to code section 403b in over
40 years and have said that with this advance warning,
there will be no excuse for anyone who procrastinates.
The current option to transfer money out of AMC’s
limited plan and improve your investments will end.
Why
wait until the last minute and risk making a hasty decision?
Plan ahead. Call me now at (518) 935-2575 to learn about
your options. Find out why many of your fellow AMC colleagues
have transferred
their plans, at no cost, to a Schwab Advisor-Directed
403b
Plan designed and managed by RJM Advisors. I will be
glad to meet at your office or mine, and initial consultations
are always free of charge.
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