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Pension Planning Made Simple

Whether you’re part of the Massachusetts retirement system (Options A, B, C) or the New Hampshire Retirement System (different benefit groups and payout formulas), your pension choices are some of the most important financial decisions you’ll ever make. This page brings clarity to both.

  • Options A, B, and C explained in plain English.

  • Survivor benefits clarified for spouses and families.

  • MA vs NH pension tax differences.

  • How your pension fits with Social Security & savings.

FAQ Section: Common Pension Questions

FAQ

When will I receive my first pension check?

In Massachusetts, most retirees receive their first pension payment within 30–60 days of their retirement date. In New Hampshire, the timing is similar, though it can vary depending on when paperwork is filed. It’s a good idea to have a short-term income plan in place to cover that gap.

Should I choose Option A, B, or C for my Massachusetts pension?

  • Option A provides the highest monthly benefit but no survivor benefit.

  • Option B offers a slightly reduced monthly benefit, with any remaining balance paid to a beneficiary if you pass away before your contributions are used up.

  • Option C reduces your monthly benefit more significantly, but guarantees a lifetime benefit for your surviving spouse.

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     The best choice depends on your health, spouse’s         situation, and overall financial plan.

Why don’t my first few pension checks seem correct (beyond health insurance deductions)?

It’s common for the first few checks to be slightly off. Sometimes the retirement system issues an estimated payment until all your final payroll information is processed. Once your salary, sick time, vacation payouts, and contributions are finalized, your pension is adjusted and your regular amount begins. Any difference is usually corrected in a later check.

How does the repeal of WEP and GPO affect my Social Security?

The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) used to reduce Social Security benefits for public employees with a pension. With their repeal, retirees in Massachusetts and New Hampshire may now qualify for higher Social Security benefits. It’s important to review how this change impacts your retirement income and tax strategy.

Do I still need savings if I have a pension?

Usually, yes. A pension covers basics, but savings and investments provide flexibility for travel, healthcare, and unexpected costs.

Your pension is just one part of the picture. The right choices depend on your income, savings, and retirement goals

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Past performance is not indicative of future results. This material is for informational use only and should not be considered investment advice. Investing involves risk. Principal loss is possible.

 The opinions expressed are those of Guardian Wealth Advisors, LLC. The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Forward-looking statements cannot be guaranteed. This should not be construed as tax advice. You should always consult with your tax professional with regard to specific tax questions and obligations.

 Investment advisory services offered though Guardian Wealth Advisors, LLC D/B/A Finance Roadmap Planning. Guardian Wealth Advisors, LLC (“GWA”) is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about GWA’s investment advisory services can be found in its Form ADV Part 2 or Form CRS, which is available upon request.

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