City of Philadelphia Employees

Welcome City of Philadelphia Employees!

City of Philadelphia Employees members can plan for a more secure future by taking advantage of several attractive investment and benefit opportunities available through City of Philadelphia Employee membership.

City of Philadelphia Employees

Financial Counseling

I will help you and your family create a custom exit strategy. I will help you prepare for retirement. I will help you identify your liabilities and work with you to reduce them so that your Total Net Worth is able to grow debt free.

Personal Retirement Planning

City of Philadelphia Employees can receive a portfolio evaluation or retirement planning evaluation through Bridge Valley Financial Services, free of charge in my office. Only if you decide to continue to utilize our services will you be charged a fee.

Deferred Comp Updates

All City of Philadelphia Employees are eligible for E-mail updates on the Mutual Funds that are available for investment in The City of Philadelphia’s Deferred Comp Plan.

City of Philadelphia DROP Program

What is DROP?

Deferred Retirement Option Program of the City of Philadelphia Retirement System Pension Plan

Where do I find information about the DROP Program provided by the City of Philadelphia?

The City of Philadelphia has detailed information available at their website

Where do I get help locally with the decisions I’ll have to make?

You’ve come to the right place. Your DROP payout is probably one of the largest amounts of money you’ll have to deal with during your lifetime and you may not have a lot of experience with many of the issues discussed below. Austin Dutton is an experienced Financial Advisor who is able to present a clear picture of your options and make recommendations tailored to your needs.

Your City Pension does not have a COLA (cost of living allowance). Many members are using my planning services to create a current income stream that supplements their pension payments or that will provide for their individual and families income needs later in life when the effects of inflation have severely reduced their purchasing power.

This is an important decision that should be reached after considering your age, health, sources of income, living expenses, financial obligations, tolerance for risk, and estate plans. An open discussion with a financial advisor can help you with choices that can affect how much income you can reasonably expect and how long it may last.

The following topics may relate to your situation and could have an impact on how you plan for your DROP payout. Call Austin and ask how the answers to these questions may impact your retirement:

  • If I want to invest my DROP payout in order to receive income during retirement, what are my options?
  • If I want to use the DROP money to make a large purchase, what should I do with it while I’m waiting to make the purchase?
  • Would it be wise to set aside DROP money for long term care in the future? And what is the best way to do it?
  • Should I take my DROP money as a lump sum payment or a rollover or a combination of the two? (make sure you aren’t forced to have 20% of your payout withheld for taxes)
  • Should I consider rolling the money into a Roth IRA?
  • Do I completely understand what it takes for my money to not lose purchasing power due to the effects of inflation during my retirement?
  • What income tax considerations should I understand?
  • If I choose a lump sum payout, can I postpone taking the money until a later date to take advantage of a lower tax bracket?
  • Should I combine my DROP money with funds I have saved in the City of Philadelphia Deferred Comp 457 (b)?

Make sure you have the answers to these questions before the time comes to make a decision. Call Austin at 215-794-1400 to discuss your specific situation.

The information provided is not approved or endorsed by the City of Philadelphia.

The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material.

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.

Any opinions are those of Austin Dutton and not necessarily those of SANDLAPPER Securities, LLC.

Expressions of opinion are as of this date and are subject to change without notice.

Investments mentioned may not be suitable for all investors.

You should discuss any tax or legal matters with the appropriate professional.

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