Are you a Hawaiian Electric Employee?
Do you work for Hawaiian Electric, Maui Electric or Hawaiian Electric Light? If so, you may be wondering how your benefit plans differ from another company’s. At INPAC, we’ve worked with hundreds of Hawaiian Electric employees for many years. As a result, we’ve gained in-depth insight into the company’s pension and benefit plans, helping employees just like you achieve their goals in life.
“How does my company's benefits play a larger role in helping me accomplish my dreams? What makes being a Hawaiian Electric employee unique? How do I take advantage of what’s available to me?” These are just some of the questions we’ve helped other employees answer.
Now, it’s your turn to get answers and take a positive step towards your future.
There’s no doubt about it.
Whether you’re a customer service representative, lineman, meter reader, engineer, clerk, manager or executive, Hawaiian Electric provides a great 401(k) plan to all of its employees. Unfortunately, funding your 401(k) might not always be enough to meet your future goals. Whether your 401(k) plan is set up to meet your goals depends on many factors.
For example, did you know the date you started working can have a significant impact on your 401(k) plan? Or that the fund selection within your plan is just one small part of a larger investment plan? Your entire investment portfolio should be examined to make sure you’re fully utilizing your benefits.
Transitioning from work to retirement is not just about money.
Even though many employees think retirement is all about relaxing, the truth is: parting ways with a long-time career can prove to be more difficult than you may initially expect. With the lack of work, retirees often look for meaningful activities, and without guidance, some don’t find it. Instead, they find themselves feeling lost and frustrated. That’s why life transitions require a lot of change — both financially and psychologically.
At INPAC, managing your investments is only a small part of what we do. It involves more than just understanding your financial situation; it involves planning your life around your future vision. It’s about being with you before, during and after your transition through retirement. It’s about working together and understanding what you really dream of. And above everything? It’s about your journey. And that journey does not end once you retire.
Choosing your pension option will be the biggest retirement decision you'll make before retiring.
Why? Because your decision cannot be changed once made. More importantly, the impact of that decision can drastically change your future. It’s no wonder employees get overwhelmed when faced with so many options to choose from. Lump sum? No lump sum? Social Security supplemental benefit? No Social Security supplemental benefit? One hundred percent joint life survivorship option, 75 percent, 50 percent, or a single life annuity? Which is the best option for your retirement?
Your retirement decisions are not going to be the same as everyone else’s. After all, there is no one right option that fits every retiree. Every Hawaiian Electric employee who has worked with us goes through a thorough analysis of their financial situation and personal goals. That’s the only way to truly determine your best pension options. And once we’re done, you'll feel confident in the choice you've made.