CFP will be providing 3 additional services at no cost to you. They are:
· Paycheck Calculation
This illustrates to the penny any changes made to your paycheck, such as participation in Island Flex or other pre-tax deductions (deferred compensation, tax sheltered annuities, etc.), as well as changes in withholding exemptions or changes in marital status. When you know exactly how participating in pre-tax programs will affect your net take-home pay, you can make better decisions.
· Employees’ Retirement System (ERS) Projections (Contributory, Non-contributory & Hybrid)
The State has three types of ERS plans - Contributory, Non-contributory and Hybrid.There are a number of ways to project retirement benefits due to the number of options available and the percent of the contribution. As a service to employees, we will project retirement benefits for either the contributory or non-contributory plan and for any contribution level. By estimating now what you will receive in ERS benefits when you retire, you can better determine how much additional savings you will need for a comfortable retirement.
· Retirement Needs Analysis
This program is used to help you determine whether your current retirement savings plan (estimated ERS benefits and any other savings plan) is adequate to provide you a desired level of retirement income. It will point out to you any adjustments necessary to help ensure a comfortable retirement..

The above services are provided to employees at no cost as part of CFP's contract with the State to administer the Island Flex program. Workshops will be scheduled later this year to provide more details on these services; however, you may contact us earlier for more information by calling Comprehensive Financial Planning, Inc. at 596-7006 or e-mail us at cfpii001@hawaii.rr.com. Neighbor islands may call toll free at 1-877-550-5552.