Retirement Realities
Many pre-retirees can become focused on the “ideal” retirement, but turning that dream into a reality can be tricky.
Extensive Experience Helping State of Michigan Employees
The State of Michigan Retirement Plan is unique, so you need unique solutions and support to help you on your journey towards a great retirement. At GNZ, we have extensive experience helping State of Michigan employees understand their retirement benefits. We have established a process designed to guide them through the essential steps, with the goal of ensuring they get the most of their retirement benefits.
Whether you're approaching retirement or just starting to consider it, we are here to support you.
Our Process
For State of Michigan Employees, we have created the Michigan Retirement Process, which is an extension of our Perspective Formula. This process focuses on the seven foundational pillars and your unique state benefits with the goal of maximizing outcomes and supporting you on your path towards financial freedom.
Overview of State Retirement Benefits
Our exclusive on-demand webinar series is designed specifically for State of Michigan employees. In this introductory video, we provide an overview of the State retirement system, explain the key benefits available to employees, and highlight important retirement planning considerations to help you build a more confident financial future.
Details of the Defined Benefit Pension Plan
In this chapter, we break down the State of Michigan Defined Benefit (DB) Pension Plan. Join in and learn when you may be eligible to retire, how your pension is calculated, and the key factors that can impact your retirement income throughout your lifetime.
Details of the Defined Contribution Plan
This video provides an overview of the State of Michigan Defined Contribution (DC) Plan, including employer matching contributions, vesting schedules, and key strategies to help maximize your long-term retirement savings and investment growth potential.
Social Security and Your Benefits
Social Security is an important component of retirement income planning. In this chapter, we discuss key Social Security claiming strategies and considerations for maximizing your benefits. We also cover important investment planning considerations and how your investment strategy can support your overall retirement and financial goals.
Healthcare and Your Benefits
Healthcare can become one of the largest expenses during retirement. Fortunately, State of Michigan employees may have access to valuable retiree healthcare benefits. In this video, we provide an overview of the three primary healthcare options available to retirees and discuss key considerations when evaluating coverage for retirement.
Crafting Your Path Towards Retirement
In our concluding chapter, we summarize the key components of the State of Michigan retirement system and discuss practical steps you can take to build a more organized, confident, and successful retirement plan. Learn how thoughtful planning today can help create greater financial clarity for the future.
State of Michigan Retirement Webinars
We frequently host, no-cost educational webinars focused on the State of Michigan Retirement System.
These sessions typically last 45-minutes and provide a great overview of your retirement benefits, including:
- The State of Michigan Retirement Plans (covering both Defined Benefit and Defined Contribution Plans);
- Social Security
- Investment and Savings for your Retirement
- Healthcare in Retirement.
8 Biggest Mistakes People Make with the SOM 401K
Avoid the most common mistakes we find in State of Michigan 401(k) plans before they become costly. Learn practical strategies to help maximize savings, reduce risk, and better prepare for retirement.
Financial Planning Checklist for Newlywed Couples
Your marriage is likely the most important part of your life. We created this financial checklist exclusively for newlyweds as a way for engaged or newly married couples to prepare for the journey.
Keeping Summer Safe: Pool and Spa Safety Tips
Each year hundreds of children die or are injured in pool accidents. By taking seven steps, you can keep your pool safe.
The Utility of Sector Investing
Successful sector investing is dependent upon an accurate analysis about when to rotate in and out.
Social Security: Maximizing Benefits
There are other ways to maximize Social Security benefits, in addition to waiting to claim them.
Who Is Your Trusted Contact?
This investment account question is vital and answered as early as possible.
Conquering Retirement Challenges for Women
Looking ahead can help you conquer these unique obstacles.
The Anatomy of an Index
The S&P 500 represents a large portion of the value of the U.S. equity market, it may be worth understanding.
Deciding When to Take Social Security
One of the most common questions people ask about Social Security is when they should start taking benefits.
What Is a Roth 401(k)?
Roth 401(k) plans combine features of traditional 401(k) plans with those of a Roth IRA.