Your Fund, Unplugged – A Behind-the-Scenes Conversation: Straight Talk & Reflection

What is the I.B.E.W Local 697 Defined Contribution Plan?

It is a retirement savings plan primarily funded through employer contributions, designed to support your financial future in retirement. 

Is this my Pension?

Yes—and no. The Defined Contribution Plan is a type of pension, and it’s one of several retirement benefits that may be available to you as a member of I.B.E.W. Local 697.

Several Pensions?

Let’s focus on the word in the previous answer that really matters here: “may.”

Whether you may have one pension benefit or many doesn’t depend on luck—mostly it depends on two items: the contract you work under and the rules of that particular plan. That said, you may be entitled to one Pension which relies solely on consistent Union dues payments. 

How many Pensions are there, you know…. in total?

Four. 

That’s cool. 

Not a question. Nevertheless, undeniably true.

How does this Plan work?

Extremely well.

Like …., How well? 

This Plan has helped build multiple seven-figure retirement accounts—yeah, as in MILLIONAIRES (go ahead, say it again… it feels good). And participant balances? They regularly smoke the national averages.

No, I mean, “How does it really work? You know—the mechanics of it.”

Totally fair question. And lucky for you, everything you need—the rules, the formulas, the “what-ifs”—are laid out in detail in the SPD. Could we give you a bite-sized summary? Sure. But honestly, that’s like reading the menu instead of eating the meal. So, we’re pointing you to the source—and trusting you'll be the one to break the cycle.

Um, … Gee, … Thanks.

Technically not a question—more like a dramatic eyeroll with punctuation. 

Are you kidding me? 

Nope! 

How am I going to find out how the Plan works if you don’t answer my question?

This would be a fair concern – if only it were true.

Wait…., what?

That fact is you were given an answer. You simply didn’t like it.

Whoa …, How did this become about me?

It has always been about you. Are we wrong?

Well, no. But…?

But what? 

Really? You Suck!

Ah – There it is. The classic intellectual rebuttal: “You Suck.” Elegant. Nuanced. The Gettysburg Address of tantrums. 

What?

Because nothing says I am an adult and “I’ve considered your points thoughtfully or “I am open minded” quite like the conversational equivalent of flipping a table over and storming off.

What is with you guys? 

Let’s review: We told the truth, we stuck to it, and we didn’t fold the moment you started getting huffy and grumpy.

So, to answer the question what’s with us? Apparently: boundaries. Consistency and the radical notion of holding someone to the standard of a grown up.

Come on! For real? 

Yes. For real. As in: objective, unexciting, unchanging and infuriatingly real. You’re absolutely entitled to feel disappointed – feelings aren’t the problem. It’s just that they don’t override facts. 

And while we’re here:

Fun fact – because you seem like you could use one. 

That answer that you received earlier? That isthe answer. Same one we’ve given every time. 

It’ll be the same one we will give tomorrow. And the next day. And the day after that. Not because we’re unimaginative, but because we value consistency.

Consistency doesn’t have to feel good. It only has to work and to get things done.

The upside? Consistency is kind of our thing.

You’re Not Helping. 

Again, …., not a question. 

However, would it help if we said that we not only see you …., we, hear you? 

Because we do.

Now, you’re just messing with me.

You think? 

Just know this - We’re not going to gaslight reality to make you feel better. 

Ok. Ok. I get it.

Do you? 

Do you really?

No, but…, I just want this to stop. 

So, now you’re both lying and quitting? That’s the arc you’ve chosen to go with. Interesting choice. 

Um….

Um? What?

I don’t know what to say. 

Obviously. 

What the heck? I do not know what you want me to say.

Anything. We don’t care. This is, after all, all about you. So go ahead and ask us something. 

What was so wrong about my “Ok. Ok. I get it” question?

Well, let’s be honest—it wasn’t a question. It was a remark. And more to the point, it wasn’t true.

And look, if you want to tell yourself you’ve ‘got it’ just to end the conversation, that’s your prerogative. But don’t expect us not to notice when someone’s tapping out rather than stepping up.

Oh. I see. You’re just giving me some tough love. 

Don’t flatter yourself. We don’t love you. Heck, at this point in this convo, we’re barely tolerating you. 

Unbelievable!

What is so unbelievable? 

Never mind. So, what you’re saying is that I’m wrong again?

Yup. But hey - failure just may be your thing.

Again - That’s Not Helping

Ask yourself this:

Is giving up and bluffing really the move you want to bring into something as serious as your future—and your place in the I.B.E.W. Local 697 Benefit Funds?

Because this isn’t just about this moment. Or this conversation. It’s about how you show up—for the long haul.

And in this game, how you feel about doing the work doesn’t matter nearly as much as whether you do it.

You don’t have to love the process.

You just have to respect what’s at stake.

I’m tired of this. Why are you being so, so, ……?

Rigorous? 

Not quite the word I was thinking of using but let’s go with that. So yeah…., rigorous.

Fair question. So, let’s be clear:

If you choose not to hold standards, that’s entirely your call. But we do have standards—and we don’t bend them to fit moods, moments, or meltdowns.

Where are you going with this and what are we talking about now? 

We’re still discussing your favorite subject – YOU.

You’re just choosing to tune out the message. What seems to have been missed by you here is this: People are not measured by what they begin, but by what they endure and steadily carry through.

So yes—if you’re tired, rest. If you’re frustrated, reflect. But don’t mistake momentary discomfort for mistreatment. That confusion helps no one—least of all, you.

Gee! Thanks ….. DAD! 

Ah yes—“Thanks… DAD!” The classic sarcasm-soaked mic drop that usually shows up right before someone slams the door they’ll need to walk back through later.

Well, I…., I just meant that, …., Um., ….. 

Sure, you did.

For the record, we’re not your parents. They’re the ones who somehow let you reach adulthood without grasping a fairly basic truth:

Growth and discomfort: Not enemies. In fact, they’ve been roommates for centuries.

Apparently, that’s news to you. 

Welcome to adulthood, we’ve been expecting you. 

Um…..

There it is again. The verbal smoke bomb of avoidance.

What the heck? Will you let me think? 

Of course. Take all the time you need.

Just know—there’s a difference between thinking and stalling.

What’s the issue with that? 

The issue here isn’t hesitation. It’s what’s missing underneath it: accountability. And since that is not obvious to you, let’s be clear.

What’s lacking isn’t intelligence or intent—it’s the willingness to simply own what needs owning. No overthinking. No excuses. Just responsibility.

When you’re ready to stop dancing around the truth and start dealing with it directly, let us know.

I’m ready. 

Great. Here’s what you need to do:

Crack open the SPD, learn what you need to. Own it. Then go out and crush your retirement goals. 

No shortcuts. No excuses.

At this point, I feel like …. 

Feel? Really? 

What? Now you’re dismissing my feelings.

Oh, no no no. Your feelings are very real. They’re just… not the point. It’s entirely possible for someone to feel deeply about something and still be—how shall I put this delicately?—spectacularly wrong. 

And look, if you'd like to pause everything and unpack those feelings, we can absolutely do that. I mean, we had you pegged as someone more interested in clarity than catharsis, but hey—that’s on us. That was a bold assumption, and we won’t be making it again.

So yes: your feelings matter. They’re just not a substitute for facts. By the way, that’s not emotional dismissal—it’s more like intellectual hygiene.

I’m lost. Go back to the start and break this down for me …. Slowly. Please.

Ok. But only because you used the magic word.

First - the sighing, the eye-rolling, the 'I deserve better than this' energy. Feels good, doesn’t it? Like emotional fast food: instantly satisfying, right? 

Nevertheless, it still nutritionally bankrupt.

And the sarcasm? 

Well, that’s just the Swiss Army knife of self-preservation. It lets you dodge the discomfort of truth and convince yourself you’ve somehow won the exchange. Elegant, really—except for the part where it makes you look a bit like… the back end of a horse.

That’s not quite what I was asking you to go back and explain. 

Yeah. We know. But we’re on a roll. 

Will you just get to the important stuff? This just seems that all you’re doing is going off on me. 

No, this isn’t us “going off.” This is us trying to hand you something solid, something that’ll matter long after this moment passes.

Take it or leave it. But if you’re smart, you take it.

Take what, exactly? 

The truth. 

And what might that be? Enlighten me!

That rolling your eyes or throwing up your hands doesn’t change the answer. 

It just feels like doing something while going nowhere. And yeah—we get it. That’s a coping move. We all have them, and we all use them, more often than we admit.

But that doesn’t mean it’s useful—especially when it comes to something that actually affects your future.

That said, how about we stay focused?

If there’s something you want to know about this Plan, ask it straight — and we’ll give it to you the same way.

Do I have to contribute my own money to this Plan?

You don’t have to. You get to.

And that’s no small thing.

Plenty of retirement plans don’t even give working folks the chance to throw in a little extra. For years, this one didn’t either. But now? You’ve got that option—because the Plan was built to give you more control, not less.

So, if you're looking to fast-track your future, this is one solid way to do it.

I can’t tell if you’re serious or just pulling my leg. Um……

"Um…" isn’t exactly a question—but we’ll take it as interest.

And yes, we’re serious. Dead serious.

No, you’re not required to contribute your own money. But if you're serious about building a solid future—not just hoping it works out—you shouldn’t just think about pitching in more.

You should move on it.

And the best time to start? Yesterday.

The next best? Today.

Why? Because, time and compound growth don’t wait for anybody!

What should I do?

We can’t make that call for you. But here’s what the sharp ones do—the ones thinking long game:

They make additional contributions.

Why? Because they know every extra dollar today is one less worry tomorrow.

It’s not flashy. It’s just smart. And it works.

So, if you’re serious about stacking the deck in your favor down the road… following their lead wouldn’t be the worst idea.

I want to retire early. That’s my plan. Will contributing extra help me get there?

Yep. Plain and simple.

Think of it like dropping a second engine into your retirement truck—it pulls harder, climbs faster, and gets you where you’re going with a lot less grind.

More fuel in the tank means fewer years on the job. That’s the trade.

The full details? They’re in your SPD. But if you're just looking for the straight answer: Yes, kicking in more now could mean clocking out sooner later.

What’s the “secret sauce” the smart ones know that I don’t?

There’s no secret. Just choices.

The folks you’re calling “smart”? They didn’t get handed anything special. They just paid attention. Took the time to actually understand their benefits. 

Then used them — all of them — to their full advantage.

No guesswork. No hoping. Just learning, planning, and doing.

That sounds like I have to put in some time… and, you know… TikTok’s of cats…

Sounds like your big retirement strategy is hoping your grandkids slip you a check now and then?

Hey — I didn’t say that.

No, but your body language did.

Look — do or don’t. It really is that simple.

But know this: around here, knowledge doesn’t just build confidence — it builds retirement accounts.

Then remember this: The future rewards not the distracted, but the deliberate — those stacking quiet effort while the world chases noise.

So, now you’re a poet?

Oh, I am more than that. I’m the complete package. 

When can I take money out of the Plan?

Generally? When you retire. That’s the big milestone.

But there are exceptions:

• If you become permanently disabled.
• If no employer contributions have been made on your behalf for 24 straight months.
• And in certain cases, once you’ve hit a specific age and had a 30-day break in service, you may be eligible to access a limited portion of your account.

That last one? It’s a little technical, and it doesn’t apply to everyone—so we won’t get into the weeds here.

But here’s the good news:

There’s a document that spells all this out in plain English. And if that still feels like a lot to sort through? You’ve got people for that.

(Us. We’re the people.)

I heard the Plan grants hardship withdrawals and hardship loans against my account?

First off—that’s a statement, not a question.

More importantly? It’s not true.

This Plan doesn’t offer hardship withdrawals or loans. Never has. It’s just not built that way.

Secondly—do yourself (and them) a favor: stop taking someone’s word for it without checking for yourself.

You’ve got access to the facts. Use them.

And if you hear someone else passing along the same bad info? Have the decency—and the backbone—to set the record straight. That’s how we look out for each other

So, no… hardships?

Now you’re getting it.

Let’s make this crystal clear: There are no hardship withdrawals from this Plan.

Not from employer contributions. And, not from any Roth in-plan conversions. Zero. Zip. None.

No fine print.

No exceptions.

“But I know of a guy, and he said he got one…”

Oh, did he? 

And who exactly is this individual? A trusted source? Or just some guy in the breakroom spreading retirement rumors like he's handing out tic-tacs?

If he’s from another Local? Irrelevant.

If he’s from this Local? Then he’s lying. Full stop. And yes—you can quote us on that.

Look, your retirement plan isn’t a whisper network. It’s not a game of telephone. Get your facts from the source, not some jobsite Socrates with a hunch and a Monster energy drink.

I don’t want to say their name. 

Ah, naturally. Because what’s friendship without blind loyalty and a mutual commitment to spreading nonsense?

But here’s the kicker: by protecting the wrong person, you’re failing the right one. Spoiler alert—that’s you.

Want some real advice? Whoever this mystery source is, the only thing they should be trusted for is pointing you toward a decent lunch special. Beyond that? Buyer beware.

But, … this is my money, and I want access to it now.

Ah yes—the classic “It’s my money, so hand it over” declaration: the last, stubborn stand of the righteously uninformed. Equal parts indignation and procrastination.

How do we know? Because if you’d actually read the SPD, skimmed a newsletter, or shown up to one educational meeting, you wouldn’t be making this argument.

But hey, for whatever reason—you didn’t.

Maybe it felt optional.
Maybe it felt like too much trouble.

Either way, congratulations—you just earned the “fan favorite” award. We were definitely waiting for that one.

Wait. What? The money in my account isn’t mine?

We never said that.

Yes, the money in your account is yours. But it’s not yours for the taking — not until a qualifying event unlocks access.

This Plan? It’s built for the long haul. Full stop.

After all… IT’S A RETIREMENT ACCOUNT.

So:

• Not a piggy bank.
• Not a vending machine for bad decisions.
• Definitely not a Band-Aid for short-term problems caused by long-term neglect.

So, you’re basically saying my retirement plan is just a fancy savings account that locks me out whenever life actually happens? 

Look, nobody’s saying life doesn’t throw punches. Emergencies pop up. Bills surprise you. And those “can’t-miss” opportunities? Yeah—they have a terrible habit of showing up at the worst possible time.

We get it.

That’s exactly why this Plan is built to protect your future—to make sure when the dust settles, you’re still standing.

It’s not about locking you out; it’s about locking in your security.

So, I paid for this… and the money’s mine… but I can’t use it when I actually need it. Makes total sense!

Ah, the classic snark. We almost didn’t catch it—almost.

You’re still wrong.

Here’s the rub: thinking you “paid into” this Plan. Unless you’re tossing in extra cash voluntarily, the money in your Defined Contribution account never came out of your paycheck or your bank account.

Nope. That cash came from your employer, part of the deal they hammered out through the union—negotiated, structured, and all set up to work for your benefit. No friction. Just profit.

And honestly, if it were truly your own money just sitting there, you’d be grabbing it faster than free dinner at a union meeting—oh wait, you don’t go to those? Then maybe like a brand-new pair of pliers left lying around on the job site.

Wow. Thanks for nothing. Glad my future’s locked up tight while my present’s going up in flames. You clearly don’t get it. Plus, my situation’s different.

Alright, let’s slow this down so you can explain what exactly we’re missing here.

From where we’re standing, it looks like you’re trying to turn a carefully built retirement plan into a short-term bailout fund. Spoiler: that’s not how this works. Not even a little bit.

First up—life got messy? Sure. Doesn’t mean your retirement account magically turns into an ATM.

And no, your situation doesn’t entitle you to guilt-trip the Plan like it’s the Bank of Mom and Dad.

Now you’re bringing my parents into this?

No. But since you brought them up —yes, maybe yours skipped a few lessons on personal responsibility. Happens to the best of us. But let’s be honest, you probably weren’t exactly the poster child for maturity either. So, no blame game here. Maybe pick up the phone and thank them—they did try.

Yeah. Maybe, I’ll do that. So, what now?

You can keep stomping, shouting, and blaming — or you can start seeing this Plan for what it really is:

• A rare thing.
• A real, hard-earned shot at retiring with dignity. Not desperation, regret, or a GoFundMe page.

The sooner you stop treating your retirement like a vending machine for today’s emergencies, the sooner you’ll start seeing it as what it truly is — the best safety net you’ll ever have.

Here’s the game plan:

• Show up. Ask questions before the crisis hits.
• Use the education. Read the damn SPD and all those FAQs.
• Make voluntary contributions. Or Roth contributions.
• Better yet, do both — automatically, weekly or monthly.

Because when it’s finally your time to retire, you’ll be damn glad someone told you to grow up and protect your future.

Consider this that moment. And me? I’m that someone.

You can buy me a beer to thank me.

I never knew that.

Now you do. I drink beer. Not sure why that’s such a revelation and ideally, I am hoping that’s not the only takeaway you got from all this. 

So, to be clear, yes. The beer thing is less relevant… until it’s not. (We'll circle back to that.)

Here’s the real point:

Don’t wait for retirement to sneak up on you like a hangover or a Monday morning. Stay informed. Ask questions. Get involved before you’re scrambling.

Because protecting your future starts with knowing what tools you’ve got — and who’s in your corner. (Spoiler: we are.)

Start here:
🌐www.ibew697benefits.org
📞 219-940-6181 — Monday to Friday, 8:00 a.m. to 4:30 p.m.
(Pro tip: We’re usually around longer. But, like, maybe call first. We’re not psychic.)

And when the time comes, and you’re ready to retire like a legend?

Buy me that beer.

Then we’re square.

Give me the bottom line... Puleeeeaaaasssse!

Alright, here it is — in plain English, with a little love:

This Plan?

It was built to protect your future — not to patch holes in your present.

So no, your account isn’t a piggy bank, a panic button, or a Kickstarter for your next “can’t-miss” idea.

And yeah, maybe that feels strict. But it’s not punishment — it’s protection. Because retirement only works if the money is still there when you need it most — and enough to actually live on with some dignity.

What are you guys, some sort of financial sages?

Honestly? That’s flattering — but we’re just folks who believe no one should grow old with regrets… or live a life they constantly feel the need to apologize for.

That’s it.

That’s the mission.

And if that makes us sages?

Cool. We’ll get robes.

Why didn’t anyone tell me about this Roth thing before?

Oh, they did.

It was in the SPD you never opened, the newsletters you deleted, the emails you left unread, the meetings you skipped, the advisor you ghosted, and the videos you scrolled past on your way to watch a guy fall off a ladder.

But sure — let’s go with “nobody told me.”

Let’s pretend this was some top-secret, invitation-only Roth Illuminati thing. 

Very exclusive. Super hush-hush. Probably a secret handshake involved.

Ok, ok, you busted me. Happy now?

Aw, look at that — some sarcasm and a wounded ego.

So sullen and complex. And we thought you were just one dimensional. 

Are you done?

Not quite. But hey, no judgment here. Seriously. We get it — life is loud, and retirement stuff is… not.

Still, the Roth option? It’s been around for years. Just hanging out, patiently waiting, like that one decent dating prospect you ignored in your 20s because you were “too busy.”

If we were the finger-pointing type, we might say it’s been waving at you from across the room, mouthing, “I could save you thousands in taxes,” while you high-fived a buddy finding that pair of plyers at work back in 2021.

Can any participant use the Roth feature?

Yes. Any participant can.

The real question is: will you?

Oh! Here we go again. Another life lesson.

Oh no — not a life lesson. Not unless your idea of a lesson is, “Here’s how not to completely mess up your future by ignoring one of the simplest, most powerful tools in your retirement arsenal.” In which case — yes, it’s a life lesson. And frankly, one you should’ve learned several tax seasons ago.

But you, you know it all. So I won’t bother giving any further information,….

Wait! Wait. I’m sorry. Please go on.

So, you do know that word. Look at you!

Yeah. Yeah. I know. I deserve that. Please go on. 

Ok. Here’s the thing: Roth is not some exclusive financial speakeasy where only hedge fund managers and people who understand Bitcoin get in. It’s open to everyone. Yes — everyone. 

You don’t need a monocle or a private yacht. You just need five minutes and a vague willingness to read something that isn’t on TikTok.

And here’s where it gets galling: despite being shockingly simple — like “push this button for tax-free money later” simple — most people don’t use it. Why? 

Because apparently five minutes of learning feels like too much effort when you could just scroll Instagram and/or push the responsibility to future-you to figure it out.

Um… thanks, I guess. But I still don’t know what a Roth is.

Well… you never asked. And let’s be honest — you still kind of haven’t. But fine. Here we are.

And frankly? This is exactly the kind of question people should be asking — Especially if they like the sound of “tax-free money in retirement,” which-call us crazy-feels like a universally appealing concept. 

Listen, if the phrase “tax-free money in retirement” doesn’t make your ears perk up like a dog hearing a cheese wrapper, then congratulations — you are officially dead inside.

So, let’s break it down, without the jargon or the financial double-speak:

A Roth is a feature that lets you pay taxes now on your retirement contributions — in exchange for getting to take that money out tax-free later. 

You read that correctly. No taxes on the growth. No taxes on the withdrawals. 

Just… free money. Later.

Ok, you’ve got my attention. Tell me more about this Roth. 

It’s basically the financial version of eating your vegetables today so future-you can have cake. Every day. Without sharing. And without the IRS licking the frosting.

It’s not a trick. It’s not a trap. It’s just wildly underused because most people think anything that sounds that good must be fake. Or worse — boring.

Now that you actually know?

Ask better questions. We’ll be right here. Holding a very real slice of retirement cake.

Can I take a loan against my account for other reasons?

Yes. But don’t get any wild ideas. This Plan does allow loans — but only for serious, IRS-approved reasons. We’re talking real-life “oh no” moments like:

• Avoiding eviction or foreclosure,
• Buying your primary home (no, not your vacation cabin in the woods),
• Or covering major, unpaid medical bills.

So, unless your “emergency” involves something like losing your house or paying off major unpaid medical bills, the loan feature is not your get-out-of-jail-free card.

Is there a listing of permissible loan reasons? 

It’s all in the Summary Plan Description (SPD) — which, in case you’ve forgotten, is basically the user manual for your financial future.

Read it. Or don’t. But if you call us asking whether you can borrow $8,000 for a jet ski, just know: we’ll absolutely read that question out loud to the office… and then pretend the call dropped.

Good times!

Are there limits on the amount I can borrow?

Yes. And thankfully, they’re not complicated:

• You can borrow up to 50% of your account balance — but no more than $50,000 total.
• You can only have two loans out at a time.

So no, you can’t treat your retirement plan like an ATM with unlimited withdrawals. That’s not how this works. That’s not how any of this works.

Still unsure? Check the SPD or just give us a call. We’ll walk you through it — patiently, and professionally. 

What is the interest rate on a loan?

The interest rate is set at one percent (1%) above the prime rate in effect on the day your loan application is approved by the Plan. Once approved, your rate is fixed—unchanging for the full term of the loan: five years in most cases, or up to ten years for a primary residence. 

That seems reasonable….,

Do you even know what the prime rate is?

Not exactly.

Not exactly—or not at all? Because if we’re going to explain this efficiently, we should know whether we’re starting from first principles or simply brushing up your memory. Plus, knowing where to start saves us both time.

Hey - Are there any reasons I shouldn’t borrow against my Defined Contribution Plan?

Ah. Classic! Avoidance & misdirection. Got it. 

Got what?

You’re not here to learn about loan interest rates, the pros and cons, or how it could affect you—you’re here for permission. You’ve already decided; now you want either a rubber stamp to soothe your conscience or a flimsy objection to dismiss. This isn’t about learning—it’s about hoping to get an official-sounding blessing to borrow from your future.

No. No, it’s not.

Sure. If you say so.

I do say so. Yes. Why? Don’t you believe me?

Let’s just say we’re undecided—and who can blame us with all this waffling back and forth?

But here’s the reality: you’re not going to get absolution from us if you default or lock yourself out of future loans. Why? Because it’s your future, not ours. We don’t win or lose here—you do, if you mess this up.

What do you mean by lose? How do I lose by borrowing from my account?

Borrowing from your account should be the very last place you turn for funds. It’s like raiding your own retirement banquet years before it’s served—leaving a smaller table (and perhaps fewer chairs) when the day finally comes. Before you take this step, think hard about other options: delaying the expense, seeking different financing, or—even if it feels wildly old-fashioned—going without. Because when you borrow from your future, you’re not just paying yourself back with interest; you could be paying yourself back with regret.

Regret? Interest? Care to explain that a bit deeper?

Ok - Here’s what makes it risky:

• You’re stealing from yourself. Every dollar you borrow now doesn’t get to grow with the rest of your money. That means less compounding, less growth, and a lot more “why is my retirement account so anemic?” later.

• It’s a tax landmine. Miss a payment or leave your job before the loan is repaid? The unpaid balance gets treated as taxable income—and the IRS may even slap on a 10% early withdrawal penalty if you’re under 59½. Like a financial booby trap, but with paperwork.

• You’re double-taxing yourself. Yes, you repay the loan with interest. But it’s done using after-tax dollars. And then when you retire, you’ll be taxed again when you take the money out. That’s right: you’re paying taxes on money you already paid taxes on. Delightful.

So yeah, loans exist for true emergencies—think eviction, foreclosure, or medical chaos. But unless your situation qualifies as Defcon 2 or worse, the smart move is to leave the money untouched.

That’s sobering!

Yes, it is. But you’ll be ok if you remember that the money in that account has one job: to be there when you finally get to stop working.

And it can’t do that job if it’s too busy bailing you out of today’s crisis.

I know a guy who’s baffled that his defaulted loan balance keeps appearing on his statements—and he is fuming that it keeps growing…What’s with that?

Funny thing is, he’s never been curious enough to ask us why or to look it up himself. Or maybe he already knows, doesn’t like the answer, and finds it easier to blame the Plan than face the mirror. Not worth losing sleep over, but worth a head shake and a quiet reminder: if you ignore the rules you agreed to, the bill doesn’t stop just because you’ve stopped paying attention.

Actually, I meant why does a defaulted loan appear on the statement, and the defaulted loan balance keeps growing. 

We get it—we were just having a little fun with both his bafflement and overreaction.

Anyway, here’s the deal: IRS rules say any loan in default must be tracked and continue accruing interest until it’s formally distributed. And yes, disclosure rules require that this appear on your statement.

Some quick clarity: this balance is not invested and won’t reduce your invested balance when you take a distribution. And if you ever want to make things right, you can repay the full defaulted loan plus interest at any time—without triggering taxes at distribution.

Good to know. Is there anything else about defaulted loans that I should know?

Yes—if you default, you can repay anytime, plus interest, without tax consequences. But here’s the real point: don’t raid your future. Exhaust every other option first—or go without. Defaulting is like ignoring a small leak in your roof: it may seem harmless now, but eventually it will cost far more than you imagined.

Thank you for that information. 

You’re welcome.

On a different note, I am getting divorced, how will that affect my Annuity Fund.

It depends. If your former spouse is entitled to a portion of your Annuity Fund, your balance will be reduced according to the approved QDRO (Qualified Domestic Relations Order). If not, your account stays as is.

Either way, the first step is simple: notify the Annuity Fund office in writing and provide a full copy of your divorce decree and any supporting documents. If a portion of your account is involved, make sure a QDRO is submitted for review and approval.

And here’s the smart move: after a divorce, take a few minutes to review your beneficiaries—not just with the Annuity Fund, but also the Health and Benefit Fund, Union Office, NEBF, and I.O. A quick update now can save a lot of headaches later. Think of it as tidying up your financial house so your future self doesn’t inherit surprises.

What happens to my account if I pass away?

Your account balance will go to your designated beneficiary.

I don’t remember who I listed as my beneficiary?

Then your best bet is to fill out a new beneficiary form to make sure it aligns with your current desires on the matter. 

What happens if I don’t update my beneficiary info, die, and my beneficiary is someone other than other my spouse and kids?

We’ll pay out according to the last instructions you left on file. So to whomever you last listed as beneficiary on the form on file at the time of your demise. 

Whoa! Is that really true? That’s not fair!

First – Its true.

Secondly—it’s probably not fair to your current loved ones… but it is exactly what’s fair under the rules. The Plan will honor whatever is on your most recent beneficiary form. Full stop.

So, if that name happens to be your ex, that’s 100% on you. No one’s overriding it. No one’s guessing what you meant to do. 

In other words, if you didn’t update the form, your benefits will be paid exactly as instructed. 

Fair? Not always. Accurate? Absolutely.

What happens then?

Ah. You want to know whether the Plan Office will smile politely, congratulate your ex, and calmly assist with the transferring of the assets into an account under their name.

No need to worry about that because that is what we will do and do efficiently. We got your back!

No. You know what I mean.What about my current family? What are you going to tell them?

Seriously?

We’re going to tell them the truth—because honestly, what else can we do? 

When your loved ones ask what happened, we’ll have no choice but to say, “That’s what the file says.” Because it does. 

And yes, we might—politely, of course—mention that, true to form, you stubbornly refused to engage even when it actually mattered. You ignored the emails. You skipped the meetings. You ghosted every nudge to update your beneficiary form. 

Why would you say that?

What, you wanted us to lie? Yeah… sorry not sorry—that’s not in the job description. We do files, not fiction. And your file said exactly what it said. 

But? 

But what? Am I missing something here? 

You’re dead. What do you care?

But? That doesn’t feel like it would be the appropriate thing to say?

We thought that you said you were dead. So, let me get this straight. Mr. Touchy-feely is not only not dead, and he also hasn’t left the building. Is that the correct scenerio?

No, I said I was dead. I just don’t like the response. 

Yes, we know—the truth stings.

But come on… don’t you think your family deserves the full picture? That you:

• Ignored every reminder,
• Skipped every meeting,
• Ghosted every nudge, and
• Never so much as lifted a finger to update your beneficiary form?

We did our part—you knew that. Shouldn’t they know that as well?

Or maybe… just maybe… you wanted this. You know-deep down. Maybe you secretly still had a soft spot for your ex. Maybe this is your grand, fiery farewell from beyond the grave. How could we possibly know otherwise?

Well, the last thing is definitely not true. 

If you say so. 

Your response is not exactly comforting.

Right—Mr. Touchy-Feely. We’re not judging; just saying consequences feel abstract… until, surprise, they’re not.

Will you stop that?

Stop what?

The Mr. Touchy-Feeley routine.

Well, you are little sensitive.

That’s not entirely fair,… 

Sure, it is. And let’s be honest-you’re also a tad entitled.

Oh Really?

Yes. Want me to keep going, or would that upset you further?

No!

Alright, then—what should we call you? Something tells me it’s not “Mr. Easygoing.”

I don’t know. Something other than that.

Ok. 

But let’s get back to the matter at hand.

Please do.

Let me ask you this question: what’s so bad about admitting that you were, well… you? Right to the very end of days?

What do you mean?

There’s something strangely admirable about staying true to who you were - a quiet kind of strength.

Let’s review: You were a black belt in procrastination, a sensei at the Dōjō of stubborn-lazy. Not traits people frame on the wall, maybe, but they were yours.

And in the end, you didn’t change.

You were exactly who you’d always been.

That’s not exactly comforting. But, there’s a certain kind of dignity in consistency. And maybe, just maybe, that’s enough.

Maybe. Theirs is a whiff of Stoicism in that right?

Sure, there are Stoic undertones. But not for you. Stoicism prizes virtue, self-awareness, steadfastness in the face of societal pressures, and accepting what is within one’s control while letting go of what isn’t.

Here, the results speak for themselves: you were not Stoic. Not even close. Your family, however, will have to be—they cannot change the fact that you blew it, nor the fact that the money will now go elsewhere.

I understand. 

We hope so. We really hope so!

Are there taxes when I withdraw the money?

Yup—generally, yes. Most distributions are subject to federal (and possibly state) income tax. And if you take money out before age 59½, the IRS may tack on a 10% early withdrawal penalty—unless you qualify for an exception.

Here’s the upside: If you’ve made Roth contributions and followed the rules, the earnings on those dollars can come out tax-free. That’s right—tax. free. retirement. income.

So maybe give a little thanks to whoever had the foresight to build that option in. (You’re welcome.)

One last thing—tax rules can get tricky, so it’s worth checking with a tax pro before making any big moves.

What’s the difference between traditional and Roth tax treatment?

Now you’re asking the good stuff.

Both options have their perks, but they work very differently when it comes to taxes. Here’s the quick-hit comparison so you can see which fits your retirement strategy.

Tax Treatment: Traditional vs. Roth Contributions

Feature	Traditional Contributions	Roth Contributions
When You Pay Taxes	Later — contributions go in before taxes.	Now — you pay taxes on contributions up front.
Taxes on Withdrawals	Most withdrawals are subject to federal (and possibly state) income tax.	If rules are met (age 59½+ & 5+ years since first Roth), withdrawals are tax-free — contributions and earnings.
Growth	Tax-deferred — you don’t pay tax on investment growth until withdrawal.	Tax-free — no tax on investment growth if qualified.
Early Withdrawal (Before 59½)	Generally taxed plus a 10% IRS penalty, unless an exception applies (e.g., disability, death).	May owe taxes and penalties on earnings if rules aren’t met; contributions can usually come out tax-free.
Bottom Line	Pay taxes later — but you will pay them.	Pay taxes now — potentially never again.

Who invests my contributions?

You do. 

Me?

Is there another “you” that I have been conversing with?

No. I don’t know why I asked that.

Neither do we. But here we are. 

So… I need to figure this all out by myself?

No. You can if you're into that sort of thing—reading financial blogs at 2 a.m., attending webinars with words like "macroeconomic headwinds"—but you don’t have to.

Because?

Because this Plan gives you options. Good ones. Like:

• You can pick your own investments from a list of professionally selected funds.
• You can use a Target Date Fund that adjusts automatically as you get closer to retirement.
• You can ask the Plan’s Registered Investment Advisor—for free—to help guide you.
• Or, if decision fatigue has turned your brain into mashed potatoes, you can have your account professionally managed so someone else makes those decisions for you, based on your goals.

So, I actually have no excuse.

You? Ha! Don’t make me laugh. You’re an excuse-generating machine. All we’ve done is take away one of your favorites - The Benefit Funds.

But don’t worry—you’ll innovate. You’ll pivot. You’ll create some brand new artisanal excuse to trot out for yourself, your family, and, frankly, anyone unfortunate enough to be trapped within earshot.

Hey – that’s not fair.

Fair? To whom? Us? You? Future You? Who exactly are you defending here?

Let’s say all three. 

Ok. To us, it’s fair because, statistically speaking, there’s an overwhelming probability you’ll do nothing—at least not right away. Which does raise the question: is this conversation a valuable use of time, or are we simply tossing retirement advice into that curious mental cupboard labeled “Things I’ll definitely get round to”—where it quietly gathers dust indefinitely?

To present you, it’s also fair, because doing nothing feels safe. It’s comforting—like keeping your money under the mattress—because it avoids any immediate cost or discomfort. But here’s the irony: what feels “safe” in the short term is often the most expensive decision you can make in the long term. Every year you delay learning about your benefits—or how money and investing actually work—you’re not just missing out on potential gains, you’re quietly paying a hidden tax in the form of lost opportunities

And to future you? The version of you who’s been ghosted by present you because you couldn’t be bothered to put in a little effort today? Let’s just say… they’re not going to send you a thank-you card.

Yikes.

A little too much reality? 

Yeah. Sort of.

We get it. So… what exactly are you going to do about that?

I don’t know.

Figures.

Hey!

Hey what?

That was rude… and I—

So sensitive. So defensive. Why’s that? You had no idea where we were going with this. Did it ever occur to you that maybe we actually understand a thing or two about human nature?

No. I just thought…that … um, 

No. You didn’t think. You felt.

No …., uh. What the ….?

Are we wrong?

I guess not.

You guess? These are your feelings— the ones you parade around like a royal procession— and now you tell us you’re not even in touch with them? How convenient.

Wait a minute..

What for? 

Well, I don’t think you’re right.

So, now you think? 

Yeah. I do that. 

On occasion. But, face it. In that instance you didn’t think. You felt. And you feel that by us pointing out that fact makes you less than, … well perhaps, just less? 

No. That’s not it at all. 

Then what is it? 

I don’t know.

There it is. The all convenient “I don’t know.” The classic get-out-of-responsibility-free card. It’s like the verbal equivalent of shrugging and walking away while everyone else is stuck cleaning up the mess. 

Spoiler alert: just because you think “I don’t know” absolves you doesn’t mean that we or the universe agrees. 

That’s kind of harsh, don’t you think?

Nope. 

Sure, it is. How can you say that?

No, it’s not harsh. It’s just inconveniently true — like realizing your favorite TV show was secretly awful all along. Let’s break down the facts, because ignoring them won’t make them go away.

If you’d actually thought for a second, maybe instead of snapping back, you’d ask a real question—one that might open your mind instead of slamming it shut.

But no, you shut down and got defensive. Why? Because deep down, you think you deserve better. And that belief? It’s the idea that everything should be handed to you on a silver platter, no effort required. Spoiler alert: life doesn’t work like that.

But there’s good news? 

There’s good news?

Of course there is. All this, everything we’ve been talking about - is actually easy. 

It is?

Yes. Easy, but not simple — because, well… it’s you. You’ll do what you do, and just as importantly, you won’t do what you won’t do.

So, there’s that. Oh, and let’s not forget how you somehow feel so deserving and entitled. By the way, what exactly have you done to earn any of that?

Oh, joy of joys! I get to learn about entitlement!

Save that lesson for your own time. Not ours. Nope — you get to learn about you. And speaking of which, we have just a few questions.

1. Haven’t you figured out by now that life doesn’t hand out gold stars for showing up late or standing on the sidelines?

1. That if you want the benefits — the security, the peace of mind — you actually have to earn them? Not with grand gestures, but with tiny, consistent actions? And, 

1. How is it that you don’t know that means learning, asking questions, making decisions — even when it’s uncomfortable or confusing at first?

Please move on.

On which part?

Just the important stuff. On what I need to know.

Oh, you want to know more about you so that you can grow as a ….

No. I mean, well yes. I suppose that would be beneficial. But I want to know the other stuff first.

We can do both. As we both know you are your favorite subject, we’ll start there. At least we will know you’ll pay attention to those parts.

Well, yeah. Naturally. I guess that make sense.

So, where were we? Oh yes. How you became so conveniently not in touch with your feelings. 

Why is that? Why do you think I did that?

I suspect that is because it’s easier to blame feelings than to actually wrestle with what they’re telling you.

Or maybe—just maybe—those feelings are the only honest thing left in this entire conversation. And because this is new territory for you, it felt unsettling. So instead of responding, you replied. And yes, there’s a difference. 

A reply is the knee-jerk “blurt something so they stop looking at me” move; a response is the slower, more deliberate “let me think about that before I make a fool of myself” approach.

So, knowing this, what then?

You tell me. Do you keep running from them, or do you lean in, ask the uncomfortable questions, and see what happens?

I think I am ready to move forward and get back to that thing about human nature.

Ready to move forward? So soon? Really? Because honestly, this is the important stuff.

Ok. Finish the thought. Actually, just sum it up for me. I want to get to that point about human nature.

Ok here it is: Growth is seldom a gentle breeze—it’s more like a rude awakening that throws you out of bed.

And if you don’t get up? The clock keeps ticking, time just laughs, and Future You? Probably not so much.

Done?

No. But I think you are. We know that tone. That stance. It’s basically the overture to your magnum opus of doing absolutely nothing. And if that’s your prerogative—fine. 

It is. What’s your point? 

Just don’t expect any standing ovations from us… or from future you, who’ll be too busy giving present you at retirement a slow clap so sarcastic it could power the national grid. 

Because here’s the thing—the human brain isn’t wired for this stuff. Evolution didn’t prepare us for compound interest. We’re built to focus on immediate threats—like tigers, or the horror of your camera accidentally turning on during a Zoom call—not the nightmare of future-you scraping by because you never sat down with the Plan’s RIA. Which, by the way, is free. And no, they’re not trying to sell you a timeshare in Boca Raton.

That’s it?

Not quite. You have a choice: use this truth about human nature as your next excuse or let it be the nudge that finally gets you moving.

And if I choose the latter…., how do I start?

Take ten minutes. Read the SPD. Ask questions. Then spend ten minutes tomorrow, and the next day, and the next, until you have read it all. 

Remember to spend the appropriate amount of time in both the Roth and Voluntary sections of the SPD to really understand how both features work. Then, if possible, make additional contributions to either the voluntary or Roth features of the Plan—or better yet, both. Small amounts, left alone, have a remarkable way of quietly compounding your actions and intentions into real prosperity.

Then?

Log into your account and check it regularly. Start today. 

Anything else?

Absolutely. Show up. For future you. Show up at meetings, seminars, view the online videos and read the correspondence that is sent to you. Paying attention always pays off. And we’re not just talking monetarily. 

That’s pretty exciting.

And trust us, Future You will raise a glass—first to Past You for actually starting, then to me. 

Oh. You’re getting back to that beer you mentioned earlier, right?

Yes. But I’ve changed my mind. I’ll have a rock ‘n’ rye. 

Top shelf? 

Of course. You’ve got the money now, and let’s face it, without me, you’d probably still be waiting for someone else to explain all this.

You’re right. Cheers to that!

Cheers. Salud! Sante! Prost! Kanpai! & Za Zdorov’ye!

Do I have to close out my account after I retire?

Of course not. Why would you think that?

Because, you know… I hear things. There’s talk. 

Oh, you mean the chatter from folks who haven’t bothered to keep up with changes made over six years ago? Or, for that matter, haven’t shown up to a meeting in that entire time?

Maybe.

Yeah, we know those people. You should hear what they say about you! 

Come on. For real?

After talking with you this long, I’d say they’re way more accurate about their understanding of you than they are about the Plan’s rules. Just saying.

What do you mean? They’re not talking about me.

You sure?

Well… no.

There’s always a chance they meant someone else. But entitled, asleep at the wheel, and oh-so-sensitive? That does describe you rather accurately. But, know this - when they discuss you they do not do so in a derogative manner – so not as an insult, but almost in awe - as a remarkable hat-trick of human behavior. 

If they didn’t also mentioned my boyish good looks…then it’s definitely not me.

I don’t think they go that far. 

So not me! Ha! Anyway, I was told that I had to close out my account. 

You don’t have to, and there’s no finish line you’re racing toward in that regard—in other words, you can keep your account here as long as you like. We do not force anyone out of the Plan. 

Why would you or your buddy think that? That’s ridiculous, right?

I don’t know. He’s pretty smart. 

If you say so. From where we’re sitting, he’s apparently not quite smart enough to know when not to give advice on things he clearly doesn’t understand.

Here’s a thought to keep in mind if someone—a buddy, relative, or neighbor—states that you have to close out your account: if we’ve already helped you grow a six- or seven-figure balance, why change captains just as the ship is entering calm waters? The hard part—building your nest egg—is done. Now it’s about navigating the long, comfortable cruise of retirement, and no one knows these waters better than we do. After all, we’ve been doing that since 1964. Can his financial guy/gal say the same?

I suppose not. Has the Fund Office really been charting those waters for over sixty years?

Yes. Did you ask your buddy why he really closed his account? 

No. Why do you ask? 

Because – It’s not that moving your account is inherently “wrong.” It’s just that, sometimes, people upset with the Plan, the Fund Office, or even the Union decide to roll their money out to “make a point.” The irony? The point usually lands on themselves. It doesn’t hurt us—but it can quietly cost you, through higher fees, weaker investment terms, or simply losing the subtle advantages that come from being part of a plan designed at scale, for insiders, not strangers.

Think of it this way: you’ve spent years building something in a home field where the rules, costs, and opportunities favor you. Why would you willingly trade that for an away game where you’re just another customer?

WOW! Oh Man. I never looked at that in just that way.

Yeah. We know. Remember, the grass isn’t always greener….

That said, I know a guy who went to a financial advisor and got a great return.

Oh really? How much did that “great return” cost him in fees? How much risk did the advisor actually take with his portfolio? And more importantly, how much better was that return compared to what any of the investments in the 697 plan have delivered?

I am not sure. But he stated it was well worth it. 

Right. And was your buddy saying that to convince you… or himself? 

I don’t think he would do that. Why do you ask?

Because let’s be honest—misery loves company, and ignorance? That’s not just a lack of information, but a state that can lead to folly, destruction and in a lot of these type of scenarios to higher fees and less value. 

You might want to actually find out before you start schlepping your assets across town. We know a guy—true story—who thought it was a brilliant move to roll his money out of the Fund because his new financial advisor was ‘only’ going to charge a 1% fee. Which sounds small… until you realize that’s basically like paying a valet 1% of everything you own, every year, forever, just to park your car and tell you which way the door swings. Or paying a barista 1% of everything you own, every year, forever, just to make you a latte and tell you your coffee order is “very sophisticated. Or, …

Hey - That’s the exact percentage that my buddy stated he was paying the financial advisory. 

Oh, so now you do know? First you say you’re not sure, and now suddenly you’re an expert. Honestly, talking to you is like trying to nail jelly to a wall.

No. I just remembered...

Seriously, quit it. For everyone’s sake, this could be over way faster if you just told the truth. Plus, full disclosure—we’re about ready to give you the verbal equivalent of a hard pass…..

Sorry. Anyway…

That’s your segue? That’s the best you’ve got? 

I don’t want to answer that.

Go figure. Good news—it was a rhetorical question. We already know the answer.

Good. So …., what’s the point?

Glad you asked.

That guy we mentioned earlier, he had $1.1 million sitting comfortably in his Local 697 Defined Contribution account. He was paying about $970 a year in fees—which covered not just his access to the entire platform, but to the registered investment advisor, the Benefit Funds office, newsletters, all the updates, videos, vlogs, blogs, seminars, the low institutional fee structure of the investments and, of course, the vigilant oversight of the Board of Trustees.

He decided to forego all that, listened to his friend and moved his entire balance to a financial advisor. Suddenly, his fees skyrocketed to $11,000 a year. That’s not just a bump—that’s a 90% fee explosion.

If you’re wondering whether that was a smart move, you’re already ahead of the game. 

Wow. Still, my buddy got a better return.

Did your buddy actually make 90% more than any of the investments in the Defined Contribution Plan? And how was he invested before moving the money to that financial advisor?

I don’t know.

Well, we both know the answer to the first question. 

No, I don’t know that.

Sorry, no benefit of the doubt here—you’ve had bouts of selected amnesia so many times during this conversation that trust is in short supply. But if you genuinely don’t know, why not ask to see his statements? Verify the numbers before you take his word for it.

Um...

Hesitant? What are you afraid of? 

Is it that you’re afraid that he maybe lied about his returns or, perhaps, that he is clueless about the amount of risk he is exposed to? Or is it that you may discover that he didn’t do his homework and relied upon the recommendation of another person, who also didn’t do their due diligence?

All three? Really? How sad. 

That’s not really… fa…

Fair? Again? Alright, I’ll indulge you. If it is not one of those three things, then what is it? 

I don’t know.

Finally. You’re starting to get it.

Get what?

That’s the whole point of this conversation—to show you that you don’t know. Because, quite simply, you never bothered to find out. It doesn’t take much—just a decision to do better, then actually take some action.

Hey, I came to you with these questions.

Just the lousy ones. Let’s be honest, you didn’t put in much effort into those questions at all. And you only asked because you’re too lazy to read the SPD, or attend meetings, watch an education video or vlogs, read articles or blogs, watch market watch, follow and study geo-politics… shall I go on? 

No. I get it. 

Do you? 

Yes.

What do you get, exactly? 

Um..well…I feel like your telling me ….

Ah, there it is again. That ongoing tango between you and your feelings-quite the performance throughout this chat.

I think that your about to share some more insight. Am I right?

Yup. Now, just to be clear, our job here isn’t to give a masterclass on… well, you. We could have just answered your questions, high-fived, and sent you on your way. But we didn’t. We stuck around.

Why? Because this wasn’t about facts or figures—it was just to get you to peek into the funhouse mirror of your own mind and ask: “How do I really behave when the stakes are high?”

Because how you answer that question is the best predictor of whether future you is clinking glasses in the sun—or binge-watching regrets on the couch.

So, if nothing else, consider this our playful nudge—one small pause that might just rewrite your story, one choice at a time.

Is there anything else I should know? 

You want more than that pearl of introspection I just laid at your feet?

Yes. More. Please. 

You really want to know if there’s anything else about yourself you should be aware of?

Yes. 

There is. Plenty. But you already have a lot to consider, and there are other participants in the Plan that need assistance. 

Ok. Is there anything about the financial advisor my buddy uses—that I am considering - that I should know?

Oh, absolutely. There’s quite a bit you should know.

First: where was that financial advisor when you were actually working? Why weren’t they there then? Why weren’t they helping you grow your assets back when it mattered most?

And, why is it only now—with real money finally on the table—that they suddenly want their slice of the pie?

Spoiler alert: they’ll likely charge you more in fees each year than you’ve ever paid the Plan during any given year. And here’s the kicker—they probably won’t be able to clearly explain the value those fees bring to you and your family.

If that’s true, I’ll move my money back to the Plan.

Oh, that’s definitely true.

And look at you—so innocent, so cute. Tell me this: what exactly makes you think we’d just roll out the red carpet and let you waltz your money right back into the Plan?

But - I’m a member!

Membership alone does not automatically grant you participation rights in the DC Plan. 

It doesn’t? So, the Plan doesn’t have to take me back?

Ahhhh—there it is. Got it. You assumed otherwise. And no, the Plan is not obligated to reinstate you simply on that basis.

No?

Not even close. That’s not a thing. 

But why not just take the assets back and allow me back into the Plan?

Why? Why would we roll out the red carpet for someone who, frankly, couldn’t be bothered to attend a single educational meeting, log into the platform, read any of the documents—let alone the newsletters, updates, or literally anything else we send you?

What are we missing here? Have you undergone some miraculous transformation, or are you still the same person whose entire contribution to the Plan is basically showing up with an empty plate and asking, “So… when’s dessert?”

Hey - A lot of people don’t do any of those things. So what? What difference should that make?

You see, attending meetings, reading updates, logging into the platform—these aren’t bureaucratic hurdles. They’re tiny but essential proofs that someone is paying attention. And attention, in retirement planning, is the difference between drifting aimlessly and actually reaching port.

So, if someone’s past engagement with the Plan has been… let’s say, “minimal”—welcoming them back without any sign of change would be a bit like letting someone back into the football team on the promise that this time they might show up to practice. It may be generous, but it’s hardly fair to the rest of the squad who have been turning up week after week.

That’s the difference and it matters. It’s not about punishment—it’s about reinforcing the habits that make the Plan work for everyone.

So, now I’m a taker? 

No, no, no—you didn’t just wake up one morning and decide to be that guy. We’re just politely acknowledging a well-honed skill set here. It’s less of an art and more of a recurring pattern. Like showing up to a monthly membership meeting with no clue and nothing but a smile—and somehow acting surprised when people don’t know your name and aren’t thrilled when you ask a senseless question. 

You’re really going there?

Well, you got to meet people where they’re at. And no, we’re not exactly doing cartwheels about trekking out to your corner of the world—more like resigned sighs and hoping for coffee. 

Holy S***! You Went There. 

Oh, absolutely. We didn’t just go there—we brought snacks, a PowerPoint, and a very patient sense of humor.

But - Why so astonished? And honestly, what’s so astonishing about “there”?

You’re really asking that?

Of course. You should know me better by now. 

I thought that… well, by saying that in such an indignant tone, I’d somehow reclaim my personal moral high ground… and maybe a bit of agency.

How’s the view down there?

What? Oh - Not so good. 

Exactly. That “moral high ground” you claimed? It’s less Everest, more a slightly uneven garden path. But hey, it’s the perception of height that counts—so carry on pretending you’re towering, even if everyone else’s view tells a different story.

But let’s get back to the question - what’s so astonishing about “there”?

I suppose … nothing?

Are you asking or stating?

More like guessing. 

Ah - honesty. That’s refreshing. 

I’m trying.

Listen, there is nothing shocking about “there.” 

“There” is just the place where the uncomfortable truths live—the ones we all try to dodge like a toddler avoiding bedtime. You know, the usual suspects: showing up, taking responsibility, and not treating your retirement plan like that flickering hallway light you’ve been meaning to fix for months—but somehow never do.

I guess. I never thought about it that way. 

Obviously. So next time don’t climb on your “high horse” and just consider this: avoiding “there” doesn’t make it go away. It just means future you gets to deal with a bigger mess. And spoiler alert—that version of you is not going to be throwing any parties in your honor.

I suppose.

So, buckle up. It’s time for some grown-up talk. Are you ready to face “there,” or do you want to keep pretending it’s just a myth?

I guess I’m ready. 

Wow. So underwhelmingly non-committal. So, you! 

Look – just get on with it. I am not feeling so good about myself right now. 

Here’s the bottom line, if you think you’re just going to coast along, doing the bare minimum, expecting everything on a silver platter, and then stroll back in like you’re some kind of retirement royalty—well, ….. that’s adorable.

Newsflash: life, much like this Plan, doesn’t work that way. You want in? Show up. Participate. Because no one’s handing out participation trophies here—just hard-earned benefits. And if you don’t step up, don’t be surprised when the door quietly closes behind you.

So, what’s it going to be? Keep playing the part of the disengaged bystander, or actually take some responsibility and earn your spot at the table? The choice, my friend, is yours.

Wow. I never looked at it from that view point. 

We know. Why do you think that is? 

I don’t know. 

Sure, you do. 

Maybe I’m a bit entitled and a tad deserving—okay. But that’s because I didn’t fully understand my role in all of this and hey, I’m busy too, so cut me some slack.

Busy? Sure, we’re all busy—some of us just manage to not let that be an excuse for not paying attention. Paying attention and understanding is a choice. 

Busted ……again. You’re right. I chose poorly. 

Admittance is the first step, so they say. The point is that missing out on learning and participating means you’re handing control of your future to chance—or worse, someone else’s agenda. 

But here’s the good news: it doesn’t have to be that way. You can take back the reins with just a little effort—and future you will thank you for it, probably with a drink in hand.

Anything else I should know because I am all ears. Do tell.

Real security isn’t just about what’s in your account—it’s about knowing, owning, and shaping your retirement.

So, take those ten minutes. Dive into your Plan. Ask questions. Understand your benefits. Make small contributions if you can.

I will. Thank you. 

You’re welcome.