Kevin Kroskey's Ohio Faculty Advisor

As the market downturn has hurt pension plans nation-wide, STRS is conducting various contingency planning scenarios to ensure the pension plan is more adequately funded for current and future retirees. Some of the changes, if implemented, could impact current retirees, potentially reducing or eliminating the COLA--cost of living adjustment--for example. This could pose a difficult scenario for current retirees, as a promised and likely planned-for benefits could be reduced. In a future post, I will discuss the pros and cons of using the PLOP--Partial Lump Sum Option--available through STRS and other state pension systems. The PLOP transfers investment risk to the participant but can reduce the risk of negative changes to the pension systems such as a reduced COLA. Notes from STRS' July Update are shown below. To Your Prosperity, Kevin Kroskey ---------------------------------------------------------------- (From STRS Ohio's July Update) LONG-TERM CONTINGENCY PLANNING WORK CONT...

Below is an email that Ohio Deferred Comp sent out to participants of the 457 retirement savings plan about an upcoming informational session held in Medina on 5/19/09. To Your Prosperity, Kevin Kroskey ----------------------- The Ohio Deferred Compensation Program will be offering two evening retirement readiness workshops on Tuesday, May 19th at 5:30 p.m. and 7:30 p.m. Program Account Executives will cover topics such as asset allocation, risk tolerance, catch-up deferrals and withdrawal options. Individual questions will also be addressed after the workshop. Due to the large number of anticipated attendees, we will be unable to perform detailed individual account reviews at the workshop. Program participants are welcome to bring a spouse or a co-worker to learn more about the Program. Space is limited. Please call 1-877-644-6457 or reply to this email with your full name, daytime phone number, seminar time you wish to attend and number of attendees to register for either workshop. ...

This blog and website are for informational, educational and discussion purposes only. Even though topics may be discussed on this blog that involve legal, tax, or investment issues, nothing on this blog shall be deemed to constitute the practice of law, legal advice, tax advice or investment advice. No reader should act in reliance on anything discussed in this blog without prior consultation with a licensed professional who is qualified to evaluate the reader’s individual facts and circumstances and offer an informed professional opinion with respect thereto. If any reader takes action or makes decisions based solely on the information on this blog without prior consultation with a qualified, licensed professional, the reader does so at his or her own risk and agrees that Kevin Kroskey and True Wealth Design shall have no liability resulting from such unilateral action or decisions by the reader. The information posted on this blog is believed to be accurate and truthful. Nevertheles...

My name is Kevin Kroskey, and this is my first foray into blogging. I am a Registered Investment Advisor with a fee-only financial planning firm, which I own, called True Wealth Design. I also am a part-time instructor at Tri-C Corporate College near Cleveland where I teach Retirement Planning to financial professionals who are seeking their Certified Financial Planner(r) certification. Through my role and compensation as instructor I too am a participant in State Teacher's Retirement System (STRS). In my practice I work with several faculty members who are also participants in STRS as well as their families. Through my related experiences as both a participant and practitioner I am confident that I can provide quality information to other faculty members on both the opportunties as well as the challenges they face in navigating their unique financial planning needs. And in my experience this is sorely needed. Thus the creation of this blog. Some of the topics I intend to write abo...