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How The SECURE Act May Impact Your Retirement Planning

Retirement Seniors

The SECURE Act (Setting Every Community Up for Retirement Enhancement) was signed into law Dec. 20, 2019. With it came significant changes to the retirement planning landscape. This article provides an overview of the Act sections that may impact your retirement planning choices.

Here are some of the items covered in the full article:

  • No more Inherited Stretch Provision (generally)
  • Required Minimum Distributions (RMDs) to begin at 72
  • Elimination of age limit



CPCU Financial Services
For more information please contact:

Holland Rajaniemi, Associate Financial Advisor
[email protected]

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America.

The Representative is neither a tax advisor nor attorney. For Information regarding your specific tax situation, please consult a tax professional. For legal questions, including information about estate planning, please consult your attorney.


Financial Planning & Retirement News Seminars

Retirement Seminar & Wealth Management

Retirement Couple

Are you ready for the “Big R” ?

Feb. 24th
CPCU Norwich, 202 Salem Turnpike, Norwich

Retirement Seminar & Wealth Management Participants will learn:

  • How to confidently address the financial, lifestyle and emotional transitions to retirement.
  • How to guard against risks and manage those that are inevitable.
  • Whether they are ready for retirement.

For more information please contact:

Jay Noyes, Financial Advisor
CorePlus Financial Planning & Retirement Services
860-885-3679 office
[email protected]


Holland Rajaniemi, Associate Financial Advisor
CorePlus Financial Planning & Retirement Services
[email protected]




News Specials

Home Equity Loans

Home Equity Loans

Make YOUR vision–YOUR reality.

Your home can have the improvements you’ve been waiting for.

4.75% APR* 
(fixed rate & APR* for 60 month term)

  • Windows/Siding
  • Pools/Decks/Hot Tubs
  • Painting
  • New Roof
  • Kitchen/Bathroom Remodels
  • Building a Garage/New Driveway
  • New Solar Panels
  • Upgrading Heating/Electrical Systems
  • Home addition/Adding Square Footage to Home
  • Finishing Basement
  • Landscaping/Site Work

Easy & Convenient Ways to Apply:


In person: at any convenient branch locations in Eastern CT

Call Today!
860-886-0576 1-800-724-0779

*This loan has no application fees or closing costs. Limited to 1-4 unit, owner occupied homes not listed for sale, residentially zoned properties located in Connecticut or Rhode Island with a maximum loan amount of $200,000, *90% max LTV, greater than 80% LTV results in a 1.00% rate increase, restrictions apply, see LTV below. 4.75% Annual Percentage Rate (APR) is for 800 minimum credit score for refinance or home improvement purposes only, loan proceeds for any other purpose will result in a 1.00% rate increase.


NCUA     Equal Housing Lender

News Specials

Quick Closing! Signature Remodeler Loan

Signature Remodeler Loan

Fix-it-up with a Signature Remodeler Loan!

Rates as low as:
6.50% APR* 

Quick Closing  |  Funded Same Day |  No Equity Requirements!

Signature Remodeler loans can be used for home improvements on your home, regardless of your home’s present equity position. Rates are reduced on this product as compared to our Signature Loan.

If you’ve owned your home for at least 3 years, it is not currently listed for sale, you have not been over 30 days late on your mortgage and your property taxes are current, this could be your best solution! Most commonly used for windows, siding, roof, flooring, landscaping etc.

  • Loan amounts up to $50,000
  • Terms up to 144 months
  • Funds available same day

Calculate Your Payment & Apply Now!

Easy & Convenient Ways to Apply:


Call Us:860-886-0576
In person: at any convenient branch locations in Eastern CT

*The advertised Annual Percentage Rates (APR) requires a credit score (FICO or similar) of 800 or greater for a 60 month term. Other rates and terms are available based on your credit history.  Loan terms as long as 120 months.   Requires 36 months residency in home, 12 month history of on time mortgage payments and the property is not listed for sale, nor is encumbered by delinquent taxes, judgments or liens. Borrowers are required to establish a Credit Union membership. Credit Union membership requires that a $5.00 (par value share) deposit account be maintained. This offer may be changed or withdrawn at any time without prior notice.

NCUA     Equal Housing Lender

News Specials

Reach Higher with a Personal Loan

Personal Loans

CPCU offers SOLUTIONS for your personal financial goals with:

Diverse products*

  • Signature Loan
  • Signature Remodeler Loan
  • Rapid Cash Loan
  • Debt Consolidation
  • MLOC (“MoneyLine” of Credit)

Low fixed rates and flexible terms!


Easy & Convenient Ways to Apply:

Call today, visit a branch near you, or apply online below!
860-886-0576 800-724-0779


*Annual Percentage Rate (APR), determined by loan type, credit score, and loan term. Money Line of Credit is a revolving line of credit that the member may draw on as needed. Some loans may require checks be made directly to merchant or vendor. Rapid Cash Loan is a short term loan up to $1000 for returning members and $500 for 1st time Rapid Cash borrowers, this loan does not require a credit pull, APR is 28%, up to six month term.

NCUA    Equal Housing Lender

Financial Planning & Retirement News

A Retirement Fact Sheet

Reality of retirement

Some specifics about the “second act.”

 Provided by Holland Rajaniemi

Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you. 

Up to 85% of a retiree’s Social Security income can be taxed. Some retirees are taken aback when they discover this. In addition to the Internal Revenue Service, 13 states currently levy taxes on some or all Social Security retirement benefits: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Dakota, Rhode Island, Utah, Vermont, and West Virginia. (West Virginia, incidentally, is phasing out such taxation.)1

Retirees get a slightly larger standard deduction on their federal taxes. Actually, this is true for all taxpayers aged 65 and older, whether they are retired or not. Right now, the standard deduction for a single filer in this age bracket is $13,850, compared to $12,200 for those 64 or younger. It is scheduled to rise to $14,050 in 2020.2

Retirees can still use IRAs to save for retirement. There is no age limit for contributing to a Roth IRA, as long as the owner earns income. So, a retiree can keep directing money into a Roth IRA for life, provided they are not earning too much. A senior can potentially contribute to a traditional IRA until the year they turn 70½.3

A significant percentage of retirees are carrying big debts. Looking at data from the Federal Reserve’s triennial Surveys of Consumer Finances, the median debt of senior households (age 65+) has more than doubled since the start of the century.4

The most stressful debt for seniors, according to a 2019 study from Ohio State University researchers, is credit card debt. The study calculates that each new dollar of credit card debt taken on by a senior household creates financial stress approximating an additional $14-20 of home loan debt.4

Moreover, a sudden financial liability may delay retirement. Another 2019 study, co-authored by researchers from the Urban Institute and the Congressional Budget Office, looks at the potential impact of a new $10,000 debt on an individual between 55-70 years old carrying the median amount of credit card debt for their age. The researchers concluded that this jump in debt would make a baby boomer 9% more likely to put off retiring.4

Fewer seniors live alone than you may think. The Administration for Community Living (a federal agency) says around 14% of older adults (65+) live by themselves. With millennials living at home and blended and extended families becoming common, perhaps this is not so surprising. The ACL does note that nearly half of women older than age 75 are on their own.5

Just 15% of women say they have a retirement strategy set down in writing. This factoid comes from the 2019 Transamerica Retirement Survey of American Workers. Another 42% say they have unwritten strategies. The remaining 43%? No strategy at all.6

Few older Americans budget for travel expenses. While retirees certainly love to travel, a Merrill Lynch study says that only about a third of people aged 50 and older earmark funds for their trips.7

What financial facts should you consider as you retire? What monetary realities might you need to acknowledge as your retirement progresses from one phase to the next? The reality of retirement may surprise you. If you have not met with a financial professional about your retirement savings and income needs, you may wish to do so. When it comes to retirement, the more information you have, the better.

Holland Rajaniemi Holland Rajaniemi, Associate Financial Advisor,
can speak with you regarding options available
for your retirement plans.


CPCU Financial Services

To set a no-cost, no-obligation appointment, call 
Holland Rajaniemi at (860) 885-3680. 


*CorePlus Financial Planning and Retirement Services Advisors are registered representatives of CUNA Brokerage Services, Inc.

Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. 

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.


1 – [4/9/19]
2 – [12/4/19]
3 – [11/8/19]
4 – [8/9/19]
5 – [5/4/18]
6 – [11/19]
7 – [11/11/19]

NCUA  Equal Housing Lender

Announcements News Seminars

FREE Mortgage Refi Seminar

Mortgage Refi Seminar
ATTEND and LEARN real world mortgage refinancing with CorePlus!
How Much Can You Save?
You have questions? We’ll have answers!
Thursday, January 23rd: 6:00pm – 7:00pm
Location: Pawcatuck Fire House
33 Liberty Street, Pawcatuck, CT 06379
Tuesday, March 24th: 6:00pm – 7:00pm
Location: CPCU Waterford
40 Boston Post Road, Waterford


Susan Dombrowski, Home Loan Specialist
860-886-0576 x 3171
NMLS# 1835648
NCUA     Equal Housing Lender
News Specials

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