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In this tutorial, Alan Gisi, president and founder of North Star Financial Planners, addresses individuals nearing retirement from FRS employers, particularly those in special risk positions. He highlights that many have deferred compensation plans but have not maximized their benefits, especially since they often retire at younger ages. Gisi stresses the urgency of understanding and utilizing the 457 plan, as opportunities to enhance it diminish as retirement approaches. He reflects on a past experience where a friend sought advice on his FRS retirement plan, emphasizing the importance of proactive planning and the consequences of inadequate guidance from plan advisors. Gisi encourages viewers to seek out valuable information on their plans before it's too late.
