Broker Check

Under Pressure

| October 22, 2018
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So with the news of the Pfizer Voluntary Early Retirement Program (VERP) announced Oct 16, we have been chatting with several folks at Pfizer who are affected by this and potentially subject to layoffs next year. A condition of VERP is for folks to decide by November 2nd to opt into VERP and leave Pfizer by 12-31-2018. Pfizer provided 40+ pages of information to assist in the decision-making process. Fortunately, the executives at Pfizer who have membership with WMGNA have a team already in place that over the last 23 years has successfully navigated such corporate offers. One of our many sayings (trite? Ha ha) in this regard is that “if you are counting on your company (Pfizer in this case) or Uncle Sam…who’s not really our Uncle!.. to take care of you and your family, even help you make the right decision  for YOUR future, you might be in for a rude awakening!” So if you have no idea, have never modeled when you would like to retire/Restyle™, on what monthly spendable income keeping pace with inflation you would like to have, and where that money is going to come from..you have 18 days to figure that out, on top of your LTI benefits (long term incentive comp), health care (once the VERP runs out if you will be under 65 and not Medicare eligible), and a myriad of tax, cash flow, and financial planning challenges both current and future. If you have no idea…or an idea but not a firm handle on your Stock Options, RSU/TSRU’s, Pension and Cash Balance Pensions etc…you better become an expert in the next 18 days…or find an expert! At WMGNA we have been modeling tax plans…retirement income projections, cash flows that include LTI, spouse LTI if applicable, joint assets, debts, etc. and all things that are important about money to YOU! So, after chatting with the WMGNA Pfizer members who we have the good fortune to serve, we simply told them we will look to maximize the opportunity that exists with the context of their current Restylement Plan as we have been doing 24-7-365…cuz money never sleeps! Talk soon! Keep the Faith

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