ATTORNEY NEWSLETTER
“Retirement Counseling” Sessions
Be Wary Of Annuity Sales
Soon-to-retire federal employees in California should use caution if they receive a flyer or see a poster for a “counseling session”, “workshop” or seminar. Also, you may just receive a flyer encouraging you to contact “retirement specialist” without any seminar or workshop. Before you take up any of these invitations, you should understand how these retirement seminars operate.
Don’t be misled by the name and advertising: your host organization may not be affiliated with the federal government or any governmental agency. Seminars are sometimes held in union halls, hotels or other spaces accommodating large groups. Seminar hosts may be insurance agents. Flyers for these counseling sessions talk about counseling employees regarding their federal 401k plan, known as the Thrift Savings Plan (TSP). However, retirement counseling sessions may be a gateway to selling attendees annuities or other insurance products.
The products of Nationwide Life and Annuity Insurance Company (“Nationwide”) and other insurance companies may be recommended by your seminar host. Recommended Nationwide products may include fixed indexed annuities sold under the trade names Nationwide New Heights©, Nationwide High Point 365©, and Nationwide High Point©. These annuity contracts, like deferred annuities generally, include complex rules regarding returns and investment strategies, fees and costs in the details, and penalties for early withdrawals, known as surrenders.
If you or a loved one lives in California and after attending a retirement eminar was sold an annuity or life insurance product including a Nationwide New Heights© annuity issued by Nationwide Life and Annuity Insurance Company, call us at Evans Law Firm, Inc. (888)50-EVANS (888- 503-8267). You may have certain legal rights. Please call if you would like an attorney to investigate whether you have a potential claim.
Contact Us
If you or a loved one lives in California and after attending a retirement counseling seminar was sold a Nationwide Life and Annuity Insurance Company deferred annuity including any Nationwide New Heights©, Nationwide High Point 365 ©, or Nationwide High Point © policy and have selected the J.P. Morgan MOZAIC I Index and/or the J.P. Morgan MOZAIC II Index under your contract, contact Ingrid M. Evans at Evans Law Firm, Inc. toll free at (888)50-EVANS (888-503-8267), or by email at <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>.
