A Word from the CEO
I hope the High Holidays were meaningful and inspiring.
Welcome to the 60th issue of the JRB's monthly newsletter — The Financial Pulse. Five years! On one hand, I can't believe how quickly the time has flown.
On the other, I can't believe how much has happened. We're nearly three years into a pandemic that shut down the economy and forced us to change the way we worship and work. We've seen much volatility in capital markets and, with the exception of the current decline so far, watched as financial markets recovered to all-time highs. Despite this volatility, we've seen the Joint Retirement Board 403(b) Plan grow — surpassing $1 billion in assets and 3,500 participants.
Over these five years, the JRB's mission has remained constant — to help you build financial security in retirement. We've encouraged you to take a long-term perspective in your retirement investments. Remember, "I have lost nothing because I am not selling today." We continually review and update our investment offerings to make sure you have access to high quality funds in each asset class — taking into account investment returns, fees and fund characteristics. We've worked to educate you about our plan benefits such as our Complimentary Benefits Package including term life insurance, disability insurance, pension continuation insurance and personal financial consultations.
We look forward to our ongoing partnership with you over the following years. If there are any topics you'd like to see us cover or services you'd like to see us provide, please let us know. We remain your partner in long-term investing and building financial security.
This issue addresses several timely topics.
- The JRB recommends that you regularly revisit your beneficiary designations to make sure they are up-to-date. "9 Mistakes to Avoid When Naming Beneficiaries" offers an excellent primer on best practices.
- Our fall Israel Bonds offering is now underway.
- The Social Security Administration announced an 8.7% Cost of Living Adjustment (COLA) for 2023 and other updates related to Social Security and Medicare.
- Changes in the cost of living also prompted the IRS to increase the amount you can contribute to your retirement account in 2023.
Finally, after three years of relying on Zoom meetings and phone calls to stay in contact with you, I'm looking forward to attending the Rabbinical Assembly and Cantors Assembly Conventions in November. Please
contact our office to set up a financial consultation if you are attending. I look forward to seeing you!
If you have questions about your beneficiaries, Israel Bonds, Social Security or your long-term financial plan, please contact us via
email or
call us at 888-JRB-FREE (572-3733).
L'Shalom,
