Leaving Your Current Employer? Larry McManus, Managing Partner TEAM Wealth Planning & Investments, Inc. February 2008

Items to Check Off What is your last day on payroll (separation/termination date?) Healthcare How long is your former employer going to carry you? COBRA costs Load your information at BCBSNC for a healthcare quote (We are not recommending BCBSNC; they have good software tools and outline mostly clearly your options and costs, in our opinion.) NOTE: With the 2009 Economic Stimulus Package the federal government is now subsidizing 65% of the COBRA premiums for up to 9 months. Since the package just passed, the companies need time to work thru how to administer the subsidy check to how your company is handling this assistance. Disability Insurance How long is your former employer going to carry you? COBRA costs

Items to Check Off

What is your last day on payroll (separation/termination date?)

Healthcare

How long is your former employer going to carry you?

COBRA costs

Load your information at BCBSNC for a healthcare quote (We are not recommending BCBSNC; they have good software tools and outline mostly clearly your options and costs, in our opinion.)

NOTE: With the 2009 Economic Stimulus Package the federal government is now subsidizing 65% of the COBRA premiums for up to 9 months. Since the package just passed, the companies need time to work thru how to administer the subsidy check to how your company is handling this assistance.

Disability Insurance

How long is your former employer going to carry you?

COBRA costs

Items to Check Off Life Insurance How much do you have outside of your former employers group coverage? Start the process now to get additional coverage if needed Minimum Coverage should include: Pay off amounts for all debt – mortgage, 2 nd mortgage, lines of credit, credit cards, auto loans, student loans, etc. Minimum of 1 year gross salary Burial Expenses (estimate $10-15,000) If your spouse would move to another city or state after your death include moving expenses College expenses for your children – at a minimum use $80,000/per child minus what you have saved already. Buy Term Insurance Only Buy in $250,000 increments

Items to Check Off

Life Insurance

How much do you have outside of your former employers group coverage?

Start the process now to get additional coverage if needed

Minimum Coverage should include:

Pay off amounts for all debt – mortgage, 2 nd mortgage, lines of credit, credit cards, auto loans, student loans, etc.

Minimum of 1 year gross salary

Burial Expenses (estimate $10-15,000)

If your spouse would move to another city or state after your death include moving expenses

College expenses for your children – at a minimum use $80,000/per child minus what you have saved already.

Buy Term Insurance Only

Buy in $250,000 increments

Items to Check Off Stock Options (ISO or NQSO) and RSU (Restricted Stock Units) Print out current holdings and vesting schedule How long after termination do you have to exercise? Is you company giving you an extended vesting period. Pension Plan Obtain current cash value Is there a threshold amount for a rollover? What is the process for rolling over this money to an IRA? Deferred Compensation Where is your copy of the plan documents? Review disbursement options Bonuses/Incentive Plans What is/will be pro-rated?

Items to Check Off

Stock Options (ISO or NQSO) and RSU (Restricted Stock Units)

Print out current holdings and vesting schedule

How long after termination do you have to exercise?

Is you company giving you an extended vesting period.

Pension Plan

Obtain current cash value

Is there a threshold amount for a rollover?

What is the process for rolling over this money to an IRA?

Deferred Compensation

Where is your copy of the plan documents?

Review disbursement options

Bonuses/Incentive Plans

What is/will be pro-rated?

Items to Check Off 401k Have you maximized your contributions for the current tax year? Are you contributing to the after tax plan? Will the company take contributions from your severance package? Do you have any 401k loans outstanding? Vacation Time How much do you have on the books? This is typically paid out on your last date of employment and 401k is usually withheld. Other Transition Items Log on to all of your work financial information (401k, ESPP, RSU, Options, Healthcare Provider, etc) via a non-work or company issued computer and verify that you have access to all accounts. Also verify all of your passwords and accounts before leaving the company Is the company offering any placement help in terms of career transition. Who owns the cell phone, Blackberry, etc. Get personal contacts & material from your work computer Asking about using your current boss as a reference

Items to Check Off

401k

Have you maximized your contributions for the current tax year?

Are you contributing to the after tax plan?

Will the company take contributions from your severance package?

Do you have any 401k loans outstanding?

Vacation Time

How much do you have on the books? This is typically paid out on your last date of employment and 401k is usually withheld.

Other Transition Items

Log on to all of your work financial information (401k, ESPP, RSU, Options, Healthcare Provider, etc) via a non-work or company issued computer and verify that you have access to all accounts. Also verify all of your passwords and accounts before leaving the company

Is the company offering any placement help in terms of career transition.

Who owns the cell phone, Blackberry, etc.

Get personal contacts & material from your work computer

Asking about using your current boss as a reference

Contact Information Jennifer Johnsrud Office: 413-256-TEAM 27 Kestrel Lane Fax: 1-866-617-1732 Amherst, MA 01002 [email_address] Larry McManus Office: 919-942-8145 104 Brannon Court Fax: 1-866-617-1732 Chapel Hill, NC 27516 [email_address] Website: www.teamwealthinvestments.com

Contact Information