Beginning in September of 2016, the PSCOA endorsed Front Street Financial to provide retirement and investment management advice to PSCOA members statewide. If you have attended a local union meeting since then, you have probably seen Mike McConahy and Jeff Wrabel introducing the services that Front Street Financial provides, and have been given the opportunity to speak with them directly.
For those who could not attend a meeting, Front Street Financial is a full-service financial planning firm located in Harrisburg, PA. Mike an Jeff have over 40 years of combine experience in the retirement, investment, and insurance marketplace. With the announcement of the closing of SCI Pittsburgh and the veiled offer of an early retirement option as part of the State budget, the PSCOA has asked Front Street to support PSCOA members through this transition and potential early retirement option. Their services include pension review/planning, managing deferred compensation investments and introducing PSCOA Retiree Chapter benefits.
If you participate in the Deferred Compensation program, Front Street Financial offers an alternate investment option to the mutual funds offered through Empower. This investment option, offered as part of the deferred compensation plan, is through Charles Schwab and is priced at a discounted rate for PSCOA members. It provides additional mutual fund choices and professional asset management for a fee of less than one percent (1%). If you are already enrolled in the deferred compensation plan, you can reach Mike or Jeff at 717-562-0709 or email them at firstname.lastname@example.org or email@example.com for more information, or to schedule a time to meet.
Front Street Financial also provides a free analysis of your SERS Pension options. This review is designed to explain the impact each pension option has on your monthly pension income and provide options for flexibility in the event your expected retirement plans change. If you are within two years of retirement and have already requested an estimate of your pension benefits from SERS, contact Mike and Jeff for your free analysis today!
If recent news is any indication, the time to plan for your retirement is now. Don’t wait until the last minute to put a plan in place. The PSCOA and Front Street Financial are here to help answer your questions and assist you in making informed decisions as you plan for your future.