For Retirement Plan Participants

Every journey has a beginning, and this is yours. Taking control of your future begins with an understanding of where you are now and where you want to be. Once you have a firm understanding of the resources at your disposal and the goals you want to achieve, you can create a pathway to reaching those goals.

• Determine the retirement plan options available to you. When are you eligible? How much can you contribute? Are there any employer contributions? Are there pre-tax and Roth after-tax options?
• Utilize the resources provided to access and make changes to your account either via phone or online.
• Confirm your current salary deferral level, beneficiary designation, and investment selections.
• Develop a current written budget and cash flow statement (access the ​Flagstar Advisors budget tools HERE).
• Evaluate your personal investment risk tolerance (access the ​Flagstar Advisors risk tolerance tools HERE).
• Calculate the account value or "nest egg" needed to retire (access the ​Flagstar Advisors nest egg estimator tool HERE).

Building on a firm understanding of your current position, make changes to your plan to support meeting your goals.

• Calculate your estimated account value at retirement using your current deferral level (access the ​Flagstar Advisors deferral tools HERE).
• Increase your deferral level, up to applicable limits, to meet your expected nest egg estimate or create a plan that will get you there over time (e.g., 1% every 12 months until your goal is reached).
• Commit to consistently Increasing your deferral level if you are not already contributing the IRS maximum for your age group.
• Update your beneficiaries as necessary and make a plan to review yearly.
• Consider changes to your investment selections only if they have fallen out of line with your established risk tolerance. (Note: Target-date funds will adjust over time and usually do not require changes.) Request assistance if you have questions or concerns.

Taking time for an annual "financial physical" to ensure that you remain on track to meet your goals is critical. Changes in the performance of the financial markets as well as changes to personal circumstances like salary raises or increased expenses (e.g., beginning a mortgage or sending children to college) can greatly affect your ability to save.

• Attend annual education meetings provided by ​Flagstar Advisors held on-site with your employer or via online webinars or dial-in conference calls.
• Schedule personal one-on-one account reviews with an ​Flagstar Advisors team member during annual educational offerings for individualized advice and guidance.
• Reach out to our team at any time throughout the year to review your account or to discuss your personal financial picture.