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DEFERRED COMP UPDATES | PAUL RODRIGUEZ

457 LB
(Deferred Compensation Plan)

Most of us are faced with a variety of financial decisions throughout our lifetime which can often be overwhelming: retirement planning, life insurance needs, paying for college, tax planning, saving to buying a home, options to pay down debt, long term healthcare planning, or strategies on building an emergency cash reserve. These are just a few questions many have regarding their personal financial health and each question can present a diverse range of answers.

While there are some broad suggestions to follow for these and other financial questions, the reality is everyone’s situation is unique. And general financial recommendations can often be incomplete or not appropriate. To help navigate the financial options available, one consideration is to meet with a trained financial professional who can listen to your financial goals, evaluate your current financial situation, and create a financial plan specific to your needs.

One such professional is a Certified Financial Planner (CFP). A CFP passes a rigorous program encompassing education, exam, experience, and ethical requirements before receiving the CFP designation. As a participant in the city’s deferred compensation plan, ICMA-RC provides a CFP as a free resource for all members. Whether you are a participant close to retiring or a new member, meeting with a financial professional can provide pertinent information to your specific financial questions.

If you are looking to evaluate your financial health, consider the services of a Certified Financial Planner. For questions concerning the availability of ICMA-RC’s CFP, please feel free to contact Ms. Tisha Neal, the City of Long Beach’s Retirement Plans Specialist at (562) 570-8265 or toll free (866) 731-1061.

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