All About RMDs
When a Traditional Individual Retirement Account (IRA) holder reaches the age of 70 1/2, the IRS requires a withdrawal known as an “RMD”, required minimum distribution. This is an important change to the account holder’s IRA, which can result in a 50% penalty by the IRS if you fail to withdraw the required amount.
Please join us as we share details regarding this requirement and how it will affect your Traditional IRA.
- September 26 - Hampton Inn - 3101 Coliseum Drive, Hampton
- October 31 - Hampton Inn - 4449 Peek Trail, Chesapeake
This workshop will be held from 10:00 a.m. – 11:30 a.m.
When we turn age 65, part of our healthcare costs are covered by Medicare. But do you know how it works? Do you know what it does and does not cover? Do you know what it costs? If not, please join us as we uncover the answers to these and other questions you may have regarding this federal health insurance program.
- March 21 - Hilton Garden Inn - 252 Town Center Drive, Virginia Beach
- April 25 - Hampton Inn - 4449 Peek Trail, Chesapeake
- May 23 - Hyatt Place - 709 Eden Way North, Chesapeake
- June 20 - Hampton Inn - 1017 Centerbrooke Lane, Suffolk
- August 22 - Hilton Garden Inn - 252 Town Center Drive, Virginia Beach
- September 19 - Hampton Inn - 4449 Peek Trail, Chesapeake
- October 24 - Hyatt Place - 709 Eden Way North, Chesapeake
10:00a.m. - 11:00 a.m.
- November 21 - Hampton Inn - 1017 Centerbrooke Lane, Suffolk
10:00 a.m. - 11:00 a.m.
This workshop will be held from 5:30 p.m. - 6:30 p.m. unless otherwise noted.
Planning for a Successful Retirement
Many people don’t take the time to plan for a successful retirement. The fact is, the sooner you begin planning for your future, the better chance you will have to enjoy the fruits of your labor for many years.
To help you meet your retirement challenges of finances, role adjustments and health, BayPort Financial, available through CUSO Financial Services, L.P.*, in conjunction with BayPort Credit Union, offers workshops designed to better prepare you for the next phase of life.
- May 25
- June 29
- August 31
- September 28
- October 26
Workshops are held from 5:00 p.m. - 8:30 p.m. at the Hampton Inn and Suites located at 3101 Coliseum Drive, Hampton, VA. Sandwiches will be provided. Space is limited.
*Non-deposit investment products and services offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Newport News Shipbuilding Employees' Credit Union (NNSECU) has contracted with CFS to make non-deposit investment products and services available to credit union members. BayPort Credit Union is a DBA name for Newport News Shipbuilding Employees' Credit Union. eVision® is a registered trademark of CFS.
Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA an investor should consider various factors including, but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.