Wealth Management Initiative
The IAFF Wealth Management Initiative (WMI) was launched in 2022 by the IAFF-FC to provide IAFF members and retirees access to financial strategies for every stage in their career.
RECAP THE IAFF 56TH CONVENTION FINANCIAL WELLNESS ROUNDTABLE
Under this initiative, members are encouraged to participate in the following:
- Nationwide Retirement Solutions is the IAFF’s preferred 457(b) Record Keeper and continues to be a critical component of IAFF Member’s retirement security. For over twenty years, Nationwide has been serving our members and will continue to do so providing better participant experiences and retirement outcomes.
- Wealth Management, Financial Planning Services, and Financial Education designed around your preferred level of engagement through Baystate Financial and MassMutual firms located nationally. Through coordination with Local Leadership, educational services with trusted Financial Advisors of local MassMutual agencies are made available to members right in their own fire house.
- The IAFF “15 by 5” Principle encourages all IAFF members to defer at least 15% of their compensation into their 457(b) plan within 5 years of enrollment. Calculate your projected retirement growth using 15 by 5 HERE.
- Expanded use of Self-Directed Brokerage Option (SBDO) within existing 457 plans to provide IAFF members with far greater investment option than are typically available in plan.