Toolkit Takes on Social Security Issues

Symetra Life Insurance Company unveiled a Web-based retirement planning toolkit for advisers as part of a retirement planning education campaign.

The campaign features collateral pieces addressing these key points in addition to a dedicated, public-facing website. The site, which will be refreshed monthly through March, provides links to a range of resources, presentations and strategy-supporting material from industry experts and organizations.

January’s theme is “Does It Pay to Delay Social Security?” The site features a marketing flyer and presentation demonstrating how delaying Social Security benefits can create more income in the long term.

In addition to a higher monthly benefit, delaying Social Security can provide tax advantages by deferring or reducing taxation on those benefits. Other advantages include inflation protection, which is built into the Social Security program and mitigates one of the biggest risks faced by retirees. There is also a spousal advantage, since delaying benefits could potentially lock in a higher lifetime benefit for the surviving spouse.

The timing of a client’s Social Security start date can have a significant impact on his or her retirement income planning, said Rich LaVoice, Symetra executive vice president, retirement sales and distribution.

“We developed planning tools and identified resources to help advisers assist their clients with this important decision,” LaVoice said.

“Have Your Retirement … and Income, Too,” February’s theme, will outline a strategy for clients to replicate their Social Security income from ages 62 to 70 through a period-certain single premium immediate annuity (SPIA).

“Ready. Set. Delay.” is the theme for March. Symetra will sponsor a webinar for advisers of selected partner firms entitled, “Savvy Social Security Planning for Boomers: What Advisors Need to Know to Maximize Clients’ Retirement Benefits” and presented by Social Security expert Elaine Floyd of

Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation in Bellevue, Washington.