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Power Company Employees

Keeping the Lights On: Expressing Gratitude to the Power Company's Essential Workers

On behalf of everyone at Keystone, we recognize that at the heart of every power company lies a dedicated team of employees who work tirelessly to ensure that electricity is always available to power our daily lives. From engineers to linemen, from customer service representatives to administrative staff, every member of the power company team plays a crucial role in keeping the lights on. Despite the challenges, power company employees remain committed. We want you to know that we care for you and appreciate the opportunity to take care of you. We know how your family sacrifices working long hours, especially for those working storm duty and outages.  and without these efforts, our daily lives would be much more difficult. Thank you to all  for keeping the lights on!

Financial and Retirement  Planning Services for Power Company Employees

Since 2005, Keystone Financial Services has been working with Power Company Employees all over the SouthEast, specializing on the intricacies of the Power Company Employees Pensions and Savings Plans. 

We strive to teach employees how to leverage the benefits provided to achieve your financial goals. Our areas of focus are:

· Pension Education-You may have up to 9 different pension options and we review each option and create strategies based on which option you may want to choose.

· ESP Contribution-Many employees choose to contribute 100% pre-tax to the ESP. We help educate and provide analysis for employees about the potential benefits of contributing to either the Roth 401k or the After Tax Source.

· ESP Investment Options- We provide financial education on the 5 mutual fund options, company stock and risk based models (comprised of the 5 mutual fund options) available in the core side of the ESP.

· Review of Active & Retiree Medical Options- A concern for many employees is the cost of Medical Insurance during Retirement. Upon retirement there are 5 different medical options to choose from with various monthly premiums and upon turning age 65 retirees are offered a Medicare Advantage plan that coordinates with Medicare.

Our initial consultation fees are waived for Power Company Employees.  

Meet your Power Company Financial Team 

Kathy Keadle

Kathy Keadle

Kathy's Bio
Kristen Wilson

Kristen Wilson

Kristen's Bio
Mark Elmore

Mark Elmore

Mark's Bio
Jennifer Williams

Jennifer Williams

Jennifer's Bio

Power Company Employees

You have a tremendous benefit package through your employer. Unfortunately, it is also very complex.   If you are seeking to optimize your financial wellness and/or planning for retirement, understanding the Power Company benefits is essential.  

We have provided this page as a resource to help guide you through some important areas regarding your benefits. If you have additional questions or would like information on whether our services may be appropriate for you, please feel free to contact us directly.

Please note that this information in general in nature, and that your Power Company benefits are subject to change. Your benefit package may vary from that described depending on your situation. Ensure that you completely understand YOUR benefits package before making decisions. See below to learn more about the benefits provided by your employer.

Useful Documents for Power Company Employees:

Frequently Asked Questions Regarding Your Benefits:

Q: Isn’t my pension guaranteed income for life? Is it safe?
A: Your pension benefit is guaranteed, subject to the ability of your employer to continue making payments in retirement. We urge you to look at the 2019 Annual Funding Notice to really understand the current solvency of the pension. (See your Pension Summary Plan Description and Annual Supplement).

Q: I heard that there is a Lump Sum Option for my Pension?
A: Depending on your years of service or your hire date there may be a Lump Sum Option available.

Q: Can I access my 401(k) after I turn age 59 1/2 if I am still working?
A: Yes, Southern Company, through their administrator Merrill Lynch, allows many employees to rollover all or a part of their 401(k) funds to a self-directed IRA once they have turned age 59 1/2 – even if they are still employed. This gives you the opportunity to consider converting some of these funds to tax-free Roth accounts before you leave employment and utilize options not available inside the limited 401(k) plan options. If done properly, there will be no taxes due when transferring these funds to an IRA.

Retiree Medical Questions:

  • How much do I pay?
  • How long will coverage last?
  • What plans can I choose from?
  • What happens when I am eligible for Medicare?
  • Can my younger spouse continue regular healthcare after I am eligible for Medicare?

You may have retiree medical benefits available when you retire. You need to become familiar with these benefits, and the eligibility requirements. The most recent summary plan description can be requested online or through HR.

Your benefits may be changed or eliminated in retirement. While you want to take full advantage of your benefits so long as they are available, you should also have a clear plan of what to do should they be reduced or rescinded in the future.

Other questions to be addressed:

  • How much income can I get from my 401(k)?
  • How are Social Security, Pension income and my 401(k) taxed in retirement?
  • Do I have enough life insurance?
  • Do I need long term care insurance? Isn’t that covered by the health insurance?

Not quite sure if now is the right time to get started? No problem! We'd love to keep in touch with our market and benefit education emails.

Thank you!

For more information about our firm and the services we offer, send us a quick email or call the office. We would welcome the opportunity to speak with you.   |  866.678.3770