Intermountain Health Archives

When Should You Take Action on Your Pension? – Timing Your Intermountain Health Decision

Posted on May 29, 2026 by Everett Hatch and Carson Johnson, CFP®, CRPC™, NSSA™

Once you’ve decided what to do with your Intermountain Health pension — lump sum or monthly payments — the next question becomes just as important:

When should you act?

Timing can meaningfully impact the size of your benefit, your tax situation, and the long-term success of your retirement income plan. Let’s walk through the key considerations.

Understanding the 5% Rule

For caregivers between the ages 59½ and 65, your pension benefit is adjusted by roughly 5% per year. If you claim early, your lump sum or monthly benefit is reduced by about 5% for each year before age 65. For example:

Claiming at 65 = full value
Claiming at 62 = roughly 15% reduction
Claiming at 59½ = roughly 25% reduction

On the surface, that makes waiting look like the obvious choice. But timing is rarely that simple.

The Core Question: Can You Beat 5%?

If you’re considering taking the lump sum before age 65, the real financial question becomes:

Can you reasonably earn more than 5% annually by investing that money?

If you believe (and can structure your portfolio) to achieve returns above 5% over time, taking the lump sum earlier may make sense. That way, instead of accepting the guaranteed 5% annual increase by waiting, you’re putting that capital to work immediately.

If retirement is still a few years away, time is still on your side. That lump sum can potentially grow within a 401(k) or IRA while you’re still working. But this requires:

Discipline
Proper asset allocation
Long-term perspective
Thoughtful tax planning

Without a clear strategy, chasing returns simply to “beat 5%” can backfire.

The Case for Waiting Until 65

There’s also a strong argument for patience. If you wait until 65:

You receive the maximum pension value
You avoid the early-claim reduction
You lock in guaranteed growth

For someone who prefers certainty or who is nearing retirement and doesn’t want market exposure, waiting can provide peace of mind.

The guaranteed 5% annual increase until 65 is difficult to ignore, especially in a low-risk context. If you know you’ll need the income soon, maximizing the base benefit may be the wiser move.

Timing Monthly Payments: A Tax Consideration

Now let’s talk about monthly payments. Intermountain allows you to start receiving pension income while still working. That flexibility is unique — but it doesn’t automatically mean it’s wise.

Here’s a rule of thumb:

If you don’t need the income, don’t take the income.

Why?

Because if you’re still earning wages, pension payments stack on top of your salary. That can push you into higher tax brackets and reduce overall efficiency. You’re essentially accelerating taxable income you may not yet need. Waiting until retirement (when your earned income drops) often creates more tax flexibility.

The Bigger Picture: This Decision Is Not Isolated

Timing should never be evaluated in a vacuum. You must consider:

Your planned retirement age
Your other retirement savings
Social Security timing
Medicare eligibility
Current and future tax brackets
Your overall income needs

For example, if you plan to work until 67 and have other conservative assets, taking the lump sum early and investing it may allow it to grow more efficiently than waiting. But if retirement is just around the corner and you’ll rely heavily on the pension, maximizing the guaranteed amount may be the better fit.

This is not simply a math problem. It’s a coordination problem.

A Practical Framework

Here’s a helpful way to think about it:

If you can earn more than 5% annually, don’t need the income now, and are comfortable with market volatility — taking the lump sum earlier may make sense.
If you prefer guaranteed growth, will need income soon, or value simplicity — waiting until 65 maximizes the pension benefit.

Both paths can be appropriate. The key is aligning the timing decision with your broader retirement income plan.

Ultimately, timing your pension decision is one of the most financially impactful choices you’ll make in the coming years. Early action offers growth potential and flexibility. Waiting offers certainty and maximum guaranteed value.

But the right answer depends on your full financial picture, not just the 5% rule. Before making a decision, it’s worth modeling both scenarios within a comprehensive retirement income strategy.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.

Lump Sum or Monthly Pension? – A Deeper Look at Your Intermountain Health Decision

Posted on May 29, 2026May 29, 2026 by Carson Johnson, CFP®, CRPC™, NSSA™

One of the biggest decisions Intermountain Health caregivers will face as a result of the pension freeze is this:

Should I take the pension as a lump sum — or as monthly payments?

It’s a simple question on the surface. But underneath it are issues of inflation, taxes, flexibility, legacy planning, and personal responsibility. Let’s walk through both options carefully.

The Case for Monthly Payments

Taking your pension as a monthly income stream (annuitizing) provides something many retirees value highly:

Stability.

You receive a steady payment every month for the rest of your life. There are no market swings to monitor. No allocation decisions to make. No concern about running out of money tied specifically to that pension.

For some caregivers, that simplicity brings peace of mind. That monthly pension payment can feel like a safe harbor if you:

Strongly dislike market volatility
Don’t want to manage investments
Prefer predictability over flexibility
Or don’t have trusted guidance to help navigate downturns

But that stability comes with trade-offs.

The Limitations of Monthly Payments

The most significant challenge retirees face today is inflation. Your pension payment is fixed.

If you retire with a $3,000 monthly benefit, you’ll still receive $3,000 twenty years later. But if inflation averages 3% per year, the groceries, travel, healthcare, and everyday expenses that cost $3,000 today could cost roughly $5,400 per month in twenty years. In other words, the fixed payment stays the same, but it certainly loses purchasing power over time.

There’s also limited flexibility:

You receive the same amount whether you need it or not.
It restricts certain tax planning strategies.
You cannot adjust withdrawals based on changing circumstances.
When you and potentially your spouse pass away, the payments stop.

There is generally no remaining asset to pass to children or charities. That’s not necessarily wrong, but it’s important to understand what you’re giving up.

The Case for the Lump Sum

With the lump sum option, instead of receiving a monthly pension check for the rest of your life, you receive a one up-front payment that represents the estimated value of those future monthly payments.

Importantly, this does not necessarily mean the entire lump sum becomes taxable income to you immediately. If handled properly, the lump sum can typically be rolled into your 401(k) or IRA, allowing the money to remain tax-deferred until you begin taking withdrawals.

Taking the lump sum shifts you into the driver’s seat. You can roll it into your 401(k) or IRA and integrate it into your broader retirement income plan. This provides:

Investment control
Tax planning flexibility
Inflation-fighting growth potential
Legacy planning opportunities

The tax planning flexibility is often overlooked. By rolling the lump sum into an IRA or 401(k), you may have more control over when the money becomes taxable. That can open the door to more thoughtful tax planning around withdrawals, Roth conversions, Medicare premiums, and charitable giving. For caregivers who regularly give to charity or to their Church, this flexibility can be especially meaningful and allow you to withdraw from your IRA tax-free later in retirement.

Properly managed, a lump sum can be invested in a way that allows part of the portfolio to grow over time. That growth can help offset inflation and give you the ability to increase your income over the years as expenses rise. It also gives you more control over how much income you take, when you take it, and which accounts to draw from.

And if something happens to you or your spouse, the remaining assets don’t disappear. They pass on to heirs. For caregivers who value flexibility and legacy impact, that can be meaningful.

The Responsibility That Comes with Control

Here’s the honest truth: A lump sum is powerful, but it requires discipline. When you take control of that pension value, you are responsible for:

Investment allocation
Managing volatility
Withdrawal strategy
Tax efficiency
Ensuring the funds last throughout retirement

Without a plan, flexibility can turn into pressure. The pressure of making investment decisions, managing withdrawals, and wondering whether your money will last. With a structured retirement income plan, flexibility becomes strength. The key isn’t just taking the lump sum, but knowing how it fits into your broader retirement architecture.

Can You Create Stability Without the Pension?

Some caregivers assume the pension is the only way to create stable income. That’s not necessarily true.

A properly structured retirement income plan can generate a “paycheck” style income stream — while still maintaining flexibility and long-term growth potential.

And unlike a fixed pension, that income strategy can adjust if life changes. If:

Healthcare needs shift
Travel plans expand
Markets fluctuate
Family circumstances change

A dynamic plan can evolve. A pension cannot.

So… Which Is Better?

The answer depends on you. Your:

Comfort with volatility
Health and longevity expectations
Other income sources (Social Security, spouse’s benefits, 401(k))
Tax situation
Desire to leave a legacy
Willingness to engage in planning

There is no universal right answer.

But there is a right answer for your situation.

Final Thoughts

The pension freeze has forced caregivers into an important decision.

Monthly payments offer simplicity and predictability.

A lump sum offers flexibility and long-term potential.

The key is not simply choosing one or the other — but understanding how that decision supports your ability to create an inflation-adjusted stream of income that lasts throughout retirement.

If you’d like help weighing the pros and cons in the context of your full retirement picture, we’re happy to walk through it with you.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.

Why Now Is the Right Time to Talk to a Financial Planner

Posted on May 26, 2026 by Jeffrey Lindsay, CFP®, CRPC

If you’re an Intermountain Health caregiver near retirement, the recent pension changes may feel unsettling. Maybe you’ve worked there for 25 or 30 years. Maybe you’ve always assumed the pension would simply “be there” — steady, predictable, and handled by someone else.

And now?

There’s change. There are options. There are decisions. And that can feel disorienting. So let me answer the question directly:

Is now the right time to talk to a financial planner?

Absolutely, and here’s why.

Change Creates Anxiety and Emotion

Whenever retirement plans shift, people get anxious. That’s normal.

But here’s the danger: When anxiety rises, decisions often become emotional instead of logical. You might feel tempted to:

Lock something in quickly just to feel secure
Avoid making a decision entirely
Or make a move based on fear of the market

A financial planner’s job isn’t to push you one direction or another. It’s to help remove emotion from the process, slow things down, ask the right questions, and evaluate how this decision fits into your entire retirement picture – not just this one pension choice in isolation.

You’re Talking About the Next 30 Years

Most people will spend more time planning a two-week vacation than they will planning a 30-year retirement. But retirement is the next third of your life. This pension decision affects your:

Monthly income and its stability over the course of your retirement
Taxes
Investment strategy
Social Security timing
Legacy that you leave for those that matter most to you
Overall peace of mind

Isn’t that worth a couple of thoughtful conversations? Even if all you gain is clarity – “Yes, I’m on track” or “No, here’s what needs adjusting” – that alone can be incredibly valuable.

More Responsibility Is Now on Your Shoulders

For decades, pensions made retirement feel simple. You worked, you retired, then a check showed up every month.

Now, with the pension freeze and the shift toward greater 401(k) responsibility, more of the outcome depends on you. That means:

Managing investments properly
Navigating market volatility
Structuring withdrawals efficiently
Keeping up with inflation
Coordinating tax strategies

That’s not a small task. It requires vigilance and understanding. And if you’ve never managed a significant pool of retirement money before, it can feel intimidating.

If You’re Not Used to Managing Investments

Some caregivers have always relied on the idea that “the pension will take care of it.” Now, suddenly, there may be a lump sum option sitting in front of you . . . a substantial amount of money that you need to manage.

If that feels overwhelming, you don’t have to go it alone. Having someone experienced walk alongside you through market cycles can be invaluable.

The market does go down at times, but it goes up more often than it goes down. The key is understanding how to manage through those periods without making emotional decisions that derail your retirement.

This Decision Shouldn’t Be Made in a Vacuum

One of the biggest mistakes people make is isolating this pension decision.

“Should I take the lump sum?”
“Should I take monthly payments?”

But those questions don’t stand alone. They connect to your:

Social Security strategy
Healthcare and Medicare timing
Spouse’s income
Tax bracket
Overall retirement goals

A planner helps you zoom out and see how all the pieces connect.

Remember, just because the pension accrual is stopping doesn’t mean your retirement is falling apart. When properly coordinated, the impact is manageable . . . and even has the potential to be positive. But you won’t know that without running the numbers thoughtfully.

Don’t Navigate This Alone

This is a big change. And big changes deserve careful attention.

You don’t have to surrender control or hand over every decision. But getting a second opinion, especially when retirement is within five years, just makes sense. When it comes to the income that needs to last you for the rest of your life, you need to understand your options, evaluate them logically, and feel confident that your income plan is sound.

Working with a financial advisor can make sure you feel in control and prepared for retirement in the face of all these changes. This next chapter of your life is too important to navigate blindly.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.

What Would a Financial Advisor Do?

Posted on May 26, 2026 by Alek Johnson, CFP®

If you’re facing the Intermountain Health pension decision, you’ve probably asked yourself:

“What would a financial advisor actually do in my situation?”

It’s a fair question. After all, advisors understand markets, taxes, income planning, and retirement risks. So if we were personally in your shoes — lump sum or monthly pension — what would we choose?

Let me give you an honest answer.

My Personal Lean: Control and the Lump Sum

If I were making this decision for myself, I would take the lump sum almost nine times out of ten. Why? Because I like having control over my money.

I’m comfortable with market volatility. I believe in long-term investing. And I trust my ability to stay disciplined — not to panic in downturns and not to overspend in the early years of retirement.

Taking the lump sum would allow me to:

Invest strategically
Create an income stream tailored to my needs
Adjust that income over time
And leave something meaningful behind for my family

With the right retirement income structure in place, I could design a monthly paycheck that potentially grows over time — something a fixed pension payment cannot do. And at the end of my life, there would still be assets remaining for the next generation. That’s compelling.

Another Advisor’s Take: Rollover With a Plan

Other advisors on our team share a similar perspective, but with nuance. One approach many advisors would take is:

Roll the lump sum into the Intermountain 401(k) initially
Keep it there while still working
Then consider moving it to an IRA at retirement

Why? Most 401(k) plans are built primarily for accumulation. They are designed for younger employees building wealth. The majority of investment options are stock-based.

When retirement begins, the focus shifts from accumulation to distribution. And that often requires more conservative and flexible tools than a typical 401(k) lineup provides. So while rolling to the 401(k) may be efficient while working, transitioning to an IRA later can allow for:

Broader investment flexibility
More conservative income-focused options
Greater distribution control

Again, the common theme is control paired with planning.

The Important Caveat

Despite our take on it, the lump sum is not automatically the right answer. If you:

Strongly dislike market volatility
Know you won’t stay disciplined during downturns
Tend to spend aggressively
Don’t have a structured income plan

The lump sum can become a problem instead of an opportunity. Some people know themselves well enough to admit:

“If I take that lump sum, I might keep it in cash out of fear . . . or I might overspend it in the first few years.”

If that’s you, the monthly pension may be the better fit. There is wisdom in knowing your personality.

It Depends on Your Entire Financial Picture

Like almost everything in personal finance, the right answer is:

It depends.

Specifically, it depends on:

When you plan to retire
How much you’ve saved outside the pension
Your Social Security strategy
Your income needs
Your comfort with volatility
Your tax situation

For example, if your pension would represent your only conservative income source, locking in that 5% growth until 65 and using it as your “safe money” might make sense, allowing your 401(k) to stay invested more aggressively.

But if you already have other conservative assets or guaranteed income sources, taking the lump sum and investing it for growth could provide more long-term flexibility.

You cannot look at this decision in isolation. It must fit into the entire retirement blueprint.

The Key Takeaway

If you’re wondering what most advisors would personally choose? Most would lean toward the lump sum because of the control, growth potential, and legacy flexibility.

But here’s the more important truth:

The best choice for you depends entirely on your situation . . . your temperament, income needs, assets, goals and discipline.

This decision should not be made in a vacuum. It should be made within a comprehensive retirement income plan that coordinates your pension, 401(k), Social Security, taxes, and long-term objectives.

If you’d like help evaluating how this fits into your full financial picture, we’re happy to walk through it with you.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.

Your Roadmap to Retiring from Intermountain Health: What You Need to Know Before You Go

Posted on May 20, 2026 by Scott M. Peterson, ChFC®

For decades, you’ve dedicated yourself to the mission of Intermountain Health—providing compassionate care and improving lives. As retirement approaches, it’s time to focus some of that same energy on your own financial wellness.

Retiring from Intermountain Health comes with a unique set of benefits, decisions, and opportunities. Understanding your pension options, knowing how your 401(k) works, and making the best decisions on how to replace your paycheck with a reliable stream of income throughout retirement all need your attention.

All of this requires much more than guesswork. It requires careful planning.

At Peterson Wealth Advisors, we specialize in helping Intermountain Health caregivers retire with clarity and peace of mind. Here’s your step-by-step roadmap.

1. Review Your Retirement Timeline and Pension Options

First, understand when you’re eligible to retire with full benefits. Many Intermountain employees consider retiring in their early 60s, especially once they qualify for:

Pension benefits (if grandfathered)

Full vesting in the 401(k) match

Medicare or retiree healthcare options

It’s important to look at more than just your age. Reviewing years of service, health coverage options, and whether retiring early will penalize your benefits.

2. Understand Your 401(k) Plan Options

Intermountain’s 401(k) is a key retirement asset. You may have both pre-tax (Traditional) and after-tax (Roth) contributions, as well as employer match money. At retirement, you’ll face decisions like:

Should I roll over my 401(k) to an IRA?

How should I draw income from it?

What’s the best way to reduce taxes on withdrawals?

We help Intermountain retirees analyze these options and build a plan that maximizes retirement income while minimizing unnecessary taxes.

3. Coordinate Social Security and Medicare

Many healthcare professionals delay Social Security to increase their benefit. But is that right for you? Timing your benefits matters. And if you’re retiring before age 65, you’ll need a healthcare bridge until Medicare kicks in.

We walk you through:

Medicare enrollment windows

Spousal coverage options

Social Security timing strategies

4. Replace Your Paycheck with Purpose

One of the biggest questions we help answer is: “How do I turn my savings into income I can count on?”

That’s where our proprietary Perennial Income Model™ comes in. It breaks retirement into six 5-year segments and aligns your investments accordingly. You get:

A structured “retirement paycheck” every month

Protection against market downturns in early retirement

Protection against inflation later in retirement

Clarity on how much you can spend, give, and save

It’s the opposite of guesswork. And it brings our clients tremendous peace of mind.

5. Don’t Forget Taxes and Legacy Planning

Retiring isn’t just about income; it’s also about efficiency. We help Intermountain retirees with:

Roth IRA conversions

Charitable giving and Qualified Charitable Distributions (QCDs)

Updating estate plans to reflect new goals

You’ve worked hard. Let’s make sure your retirement dollars work hard for you.

Ready to retire from Intermountain Health with confidence?

Visit petersonwealth.com or call (801) 225-0000 for a personalized consultation.

Intermountain Health 401(k) Benefits Explained

Posted on April 25, 2026April 23, 2026 by Daniel Ruske, CFP®

For caregivers at Intermountain Health, a 401(k) can be one of the most significant tools available for building toward retirement. When this account is treated as part of a larger financial strategy, it becomes easier to connect routine savings decisions to future income needs.

That shift in perspective can change how the account is used while you are still working. Small choices made consistently, from contribution levels to investment selections, can add up in ways that matter for years to come.

Understanding Your Intermountain Health 401(k)

For many employees at Intermountain, the 401(k) now stands at the center of long-term retirement plans, especially with the pension freeze scheduled to take effect on December 31st, 2026.1 After that date, affected workers will stop earning new pension accruals, so future growth will lean more heavily on the workplace account built through ongoing deferrals and company support.

That makes the 401(k) worth understanding on its own terms. This plan by Intermountain Health gives eligible workers a payroll-based way to build healthcare savings through pre-tax or Roth contributions, possible company funding, and tax-advantaged growth over time.

A clearer grasp of how the 401(k) works can help you make better choices, whether you are new to the organization, directly affected by the freeze, or thinking ahead to future retirement benefits. The more familiar you are with participation rules, company contributions, and vesting, the easier it becomes to connect this workplace plan to the bigger decisions you will make over time.

General Rules and Plan Features

Once you know the role this 401(k) may play, the next step is understanding how participation and company funding actually work. Several of the rules most likely to shape your decisions are worth knowing upfront:

Rules for those affected by the pension freeze: The pension plan is set to freeze on December 31st, 2026, and affected workers will stop earning new pension benefits after that date. Your earned benefits remain in place while future accumulation moves to a 401(k)-based program.

General eligibility rules: Eligible workers generally can begin participating on the first day of the payroll period on or after becoming employed and reaching age 18. Rehired qualified employees are generally immediately eligible to participate again.

Automatic enrollment: Workers hired or rehired on or after January 1st, 2020, who are age 18 or older and eligible to contribute are generally automatically enrolled at 1% thirty days after hire or rehire unless they elect otherwise first. The first salary deferral for an automatically enrolled worker is generally taken in the first payroll period after that thirty-day window ends.2

Changing your contribution rate: Participants who are automatically enrolled may change their deferral election or stop participating at any time. Workers who did not enroll when first eligible may generally enroll later and begin contributing with the next payroll period.

Pre-tax and Roth contributions: Participants may generally contribute a percentage of eligible compensation through payroll deductions. Those contributions can be made on a pre-tax basis, a Roth basis, or a combination of both.

Matching contributions: Intermountain matches employee contributions up to a maximum of 4% of eligible compensation, beginning on January 1st or July 1st following the employee’s one-year anniversary.3

Additional 2% company contribution: Intermountain also makes a separate employer contribution equal to 2% of eligible pay for participants who were added to the 401(k) defined contribution plan after the pension plan was closed.3

Vesting: Your own pre-tax contributions, Roth contributions, and rollover amounts are always 100% vested. Employer contributions credited on or after April 1, 2023, generally become fully vested after 3 years of vesting service.2

Portability: The plan accepts rollover contributions, which can help this remain one of your longer-term retirement accounts if your employment changes later. Your balance can stay invested in the plan until you qualify for and elect a distribution.

How to Make the Most of Intermountain Health 401(k) Benefits

Once you understand how the Intermountain 401(k) works, the next step is putting it to work more intentionally while you are still employed. That means focusing less on plan mechanics and more on the decisions that can improve long-term savings over time.

The best use of this account usually comes from steady habits, rather than one big move. Contribution levels, investment selections, and periodic reviews all shape how much flexibility this plan may give you later, especially as workers take on more responsibility for building their own retirement income.

Contribution Decisions That Can Strengthen Long-Term Results

Good contribution habits often do more to improve long-term results than people realize. A few practical decisions are worth revisiting regularly:

Capture the full match when possible: If you are eligible for matching dollars, contributing enough to receive the full available company match can materially improve long-term accumulation.

Review your percentage instead of setting it once: A contribution rate that felt manageable two years ago may no longer reflect your current income, expenses, or goals. Raising your deferral rate by even 1% at a time can be a practical way to build momentum without making your paycheck feel dramatically different.

Make the most of your annual contribution limits: For 2026, employees can contribute up to $24,500. Employees aged 50 and older can generally contribute an extra $8,000 in 2026, bringing the usual combined employee limit to $32,500. For those ages 60 through 63, the higher catch-up limit remains $11,250 in 2026, which can push total employee contributions to $35,750.4

Choose pre-tax, Roth, or a mix with intention: Intermountain allows eligible participants to make pre-tax contributions, Roth contributions, or a combination of both through payroll deductions. A traditional contribution may be more appealing if reducing current taxable income is the priority, while Roth contributions may be worth a closer look if you expect your tax picture to be similar or higher later on.

Investment and Allocation Decisions Inside the Plan

Saving into the plan is only part of the job. Your investment mix deserves periodic attention, especially if your current allocation was chosen years ago and no longer fits your timeline, expected retirement date, or comfort with market swings.

A sound allocation usually starts with when you expect to use the money. Someone who may rely on this 401(k) sooner may need a different balance of growth and stability than someone with a much longer runway, and diversification can help reduce the risk that one weak area does too much damage at the wrong time.

Cost awareness matters too. Two portfolios with similar holdings can produce different long-term results if one carries meaningfully higher expenses, so regular reviews can help keep the account aligned with your goals, your broader benefits picture, and other future income sources such as Social Security or individual retirement assets.

How the Intermountain 401(k) Fits Into a Bigger Retirement Plan

Your 401(k) should be evaluated based on the role it needs to play within your full retirement income structure. For some Intermountain employees, that means considering it alongside pension benefits, Social Security, individual retirement accounts, and other retirement income.

That role can shift depending on when you plan to retire and how you expect to spend your money. One person may need the 401(k) to help bridge the gap before pension or Social Security income begins, while another may want to preserve more of it for later years, larger expenses, or added flexibility if costs rise.

Looking at the 401(k) in isolation can lead to decisions that feel reasonable in the moment but do not fit as well once the rest of the plan comes into view. A stronger approach is to measure this account against your expected income needs, other available assets, and the timing of each benefit so the pieces work together in a more deliberate way.

Planning Issues Employees Should Not Ignore

Once the 401(k) is viewed as part of a broader income plan, a few larger decisions start to matter more. Those planning issues are worth thinking through before you make major retirement moves:

Taxes on contributions and withdrawals: Pre-tax savings may help reduce taxable income now, while Roth savings may create more flexibility later. The right balance depends on how your current earnings compare with the tax picture you expect in retirement.

Healthcare and Medicare timing: Healthcare costs can shape how much you may need to draw from your 401(k), especially in the years when employer coverage ends and Medicare begins. Employees nearing retirement often need to coordinate coverage decisions, premium costs, and out-of-pocket expenses with the income this account may be asked to provide.

Withdrawal timing and income sequencing: The order in which you draw from your 401(k), taxable assets, and other income sources can affect both annual taxes and how long your portfolio lasts. Proper sequencing can help create a smoother income pattern over time.

Inflation risk: A large 401(k) balance may look strong today, though its real spending power can erode over time if future living costs rise faster than your income plan can keep up.

Separation and rollover decisions: Leaving Intermountain can create important choices about whether to stay in the plan, roll assets elsewhere, or begin distributions when eligible. Those decisions can affect taxes, investment oversight, and future withdrawal flexibility.

Intermountain Health 401(k) Benefits FAQs

1. How does the pension freeze affect the role of the 401(k)?

Once pension accrual stops for affected employees after December 31st, 2026, the 401(k) becomes an even more important source of future retirement accumulation. That shift places more weight on your contribution rate, company contributions, and long-term investment decisions.

2. Should Intermountain employees increase their 401(k) contributions after the pension freeze?

That depends on your income needs, budget, and overall retirement picture, though many employees may benefit from revisiting their savings rate as the 401(k) takes on a larger role. Even small increases made consistently can make a meaningful difference over time.

3. How should employees choose investments inside the Intermountain 401(k)?

Your investment choices should reflect your expected retirement timeline, risk tolerance, and the role this account will play in your broader plan. A well-diversified allocation with reasonable costs and regular review is usually more helpful than leaving the account untouched for years.

4. Should I choose pre-tax or Roth contributions in the Intermountain 401(k)?

That choice depends largely on your current tax bracket and what you expect your tax situation to look like later. Some employees prefer the current-year tax break of pre-tax contributions, while others like the future tax-free withdrawal potential of Roth contributions.

5. What happens to my Intermountain 401(k) if I leave the company?

Your own contributions are always yours, and the plan may continue to be part of your long-term retirement strategy after employment ends. Depending on your situation, you may be able to leave assets in the plan, roll them to another qualified account, or begin distributions when eligible.

How Our Team Can Help You Make the Most of Your Intermountain 401(k)

Understanding your Intermountain Health 401(k) matters because the choices tied to this plan can influence far more than your current savings rate. They can shape how prepared you are for retirement, how efficiently you save, and how well your broader financial plan holds up over time.

Peterson Wealth Advisors works with Intermountain Health employees regularly, so we understand how these benefits connect to real planning decisions. We help you look at your 401(k) in the context of pension changes, Social Security, taxes, investment strategy, and retirement timing.

Whether you are still working through your options or getting closer to retirement, we can help you turn those decisions into a coordinated plan. To see how your Intermountain benefits fit into your broader retirement strategy, schedule a complimentary consultation with our team.

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Understanding the Intermountain Health Pension Freeze: What It Means for You

Posted on April 23, 2026April 23, 2026 by Daniel Ruske, CFP®

Recent news from Intermountain Health has changed the way many will think about retirement. For those who counted on a pension as part of their long-term picture, this is a real shift, even if the benefits you have already earned are still there.

That does not mean your plan is broken. However, it does mean the path forward may look different from what it did in the past. A frozen pension can still be part of a strong retirement strategy when you understand what is staying in place, what is changing, and how the rest of your income will need to carry more weight.

When Will the Intermountain Health Pension Freeze Take Effect?

The pension freeze takes effect on December 31st, 2026. Intermountain formally announced that currently employed participants can keep earning benefits through the end of 2026. After that date, additional accruals stop.1

Intermountain said earned benefits remain secure in a pension trust. The company attributed the change to several factors, including lower government reimbursement, market volatility, and inflationary pressure. Furthermore, the decision was presented as necessary for achieving future stability and protecting the retirement security of its current and former employees.1

Who Is Affected by the Intermountain Pension Freeze?

The effective date matters, though your current status matters just as much. Here is where the freeze lands for different groups:

Currently employed participants: If you are one of the Intermountain Health caregivers still participating in the pension, the benefit you have already earned stays yours through the freeze date. You can keep earning pension accruals through December 31st, 2026. If you remain employed after that date, pension growth stops, though you can still keep building for retirement through the 401(k) plan if you are eligible to participate.

Retirees and former workers with vested benefits: This group is not losing what has already been earned. The change does not impact retirees or former caregivers who already possess a vested pension benefit or are currently receiving payments.

Future hires and newer employees: Intermountain closed the pension to new participants in 2020, so newer employees have generally been building retirement through the 401(k) structure instead of the traditional pension plan.2 That means this freeze mainly changes the path for people who were still accruing benefits under the older pension design.

What the Pension Freeze Means for Your Retirement Income

Your pension can still be part of your future retirement income. It will just be based on what you have earned by the end of 2026 rather than years worked after that point. For many employees, that changes how future accumulation gets built.

If you stay with Intermountain after December 31st, 2026, you may still contribute to the 401(k) if eligible. This shift away from the pension places more pressure on your retirement income to come from workplace deferrals, employer-backed 401(k) features, personal savings, and the timing of Social Security.

Key Retirement Income Decisions After the Freeze

Once future pension growth has a hard stop, a few decisions start carrying more weight. The reason they matter more now is straightforward:

How much of the gap your 401(k) needs to cover: When pension accruals stop, the 401(k) usually has to do more of the long-term work. Intermountain’s plan generally matches employee contributions up to 4% of eligible compensation, with matching contributions beginning on January 1st or July 1st following the employee’s one-year anniversary. For participants added to the defined contribution program after the pension plan closes, Intermountain also provides a separate 2% employer contribution, which can make the account even more valuable once future pension benefits stop growing.3

When to claim Social Security: A frozen pension can increase the importance of getting this timing decision right. Delaying the start of benefits until age 70 can increase your monthly payment by 8% annually past your full retirement age.4 Conversely, claiming earlier provides access to income sooner, but at a lesser amount. The tradeoff deserves a closer look when one source of future growth has been capped.

How to evaluate a future pension election: Some participants may later compare a monthly pension with a lump sum, depending on plan rules and eligibility. That choice can affect cash flow, flexibility, taxes, and how much responsibility shifts to your investment accounts, which is why it deserves more than a one-number comparison.
How the pieces fit together: Pension income, the 401(k), healthcare costs, taxes, and Social Security timing all affect one another. A decision that looks fine on its own can work very differently once those moving parts are lined up side by side.

Practical Moves to Strengthen Your Plan Around the Freeze

When part of your long-term plan changes, it’s often helpful to do a broader review of the pieces around it. There are other useful moves that can help you make the transition with more confidence:

Confirm what your pension is actually projected to pay: A current estimate helps turn the frozen benefit into a real planning number instead of a rough assumption. That makes it easier to see how much income may still need to come from your 401(k), Social Security, and other assets.

Revisit how your 401(k) is invested: Once the workplace account takes on a larger role, investment choices deserve more attention. Allocation, diversification, fund costs, and overall risk level all matter more when this account may be carrying a bigger share of future income needs.

Use the contribution window well: The years leading up to and following the freeze may be a good time to revisit your savings rate, especially if your cash flow has improved or there are opportunities for additional catch-up contributions. Even modest increases in deferrals can have a meaningful effect when the pension is no longer adding new value each year.

Revisit the retirement timeline regularly: A freeze can change the income picture without changing the retirement date itself. Periodic reviews can help you see whether your projected pension, 401(k), and Social Security strategy are still lining up the way you intended.

Intermountain Health Pension Freeze FAQs

1. Does the Intermountain pension freeze mean I am losing my pension?

No. The freeze means future accruals stop after December 31st, 2026, for affected current participants. Benefits already earned remain in place.

2. Who is affected by the freeze?

Currently employed participants who are still earning pension benefits are affected. Current retirees and vested former workers keep what they already earned, and future hires were generally already outside the pension after the plan closed to new participants in 2020.

3. What does the pension freeze mean for my retirement timeline?

Your timeline may stay the same, though your income plan should be updated and reviewed. A frozen pension means less future growth from that benefit, so your 401(k), savings rate, and Social Security timing may need a closer look.

4. Should I increase my 401(k) contributions after the freeze?

For many people, that is worth reviewing. When future pension accrual stops, the 401(k) typically has to do more of the heavy lifting for retirement accumulation.

5. Should I take my pension as a lump sum or monthly income?

That depends on your broader income structure, tax picture, and comfort level managing assets. A direct rollover may keep a lump sum tax deferred if that option is available under plan rules.

6. How should Social Security fit into this decision?

Social Security should be coordinated with the pension and your 401(k) withdrawals. Delaying benefits can raise the monthly amount you receive for life, which may matter more after a pension freeze.

Turning a Pension Change Into a Retirement Plan

The Intermountain pension freeze changes how future income will be built, though it does not erase the value that has already been earned. For affected families, the real work now is deciding how the frozen pension, 401(k), Social Security, and personal savings will fit together.

That kind of work is hard to do well in pieces. Pension choices touch taxes. Social Security timing affects withdrawal strategy. Healthcare costs shape how much portfolio income you may need. One decision can change the value of the next.

Peterson Wealth Advisors works with Intermountain families regularly, and we help turn these moving parts into one coordinated retirement income plan. If you want to see how your pension, 401(k), and Social Security decisions fit together, schedule a complimentary consultation with our team.

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How the Perennial Income Model™ Helps Intermountain Caregivers Turn Benefits into a Reliable Retirement Paycheck

Posted on April 2, 2026April 14, 2026 by Scott M. Peterson, ChFC®

You’ve spent decades accumulating a pension benefit and building your retirement savings through Intermountain Health’s 401(k). Perhaps you have accumulated additional assets in HSAs, IRAs, or spousal plans along the way. But now comes the bigger question: How do I turn these assets into income I can actually live on, month after month, year after year?

At Peterson Wealth Advisors, we work with Intermountain Health Retirees to create exactly that: a structured, sustainable, and stress-free retirement income plan.

Our proprietary solution is called the Perennial Income Model™, and here’s how it transforms uncertainty into clarity.

The Problem With Traditional Withdrawal Strategies

Most retirees lack an actual retirement income plan built specifically to address their unique needs. Instead, they are told to “just withdraw 4% each year.” But what happens when the market drops 20%? What if inflation spikes or your expenses shift? And how do you know which accounts to tap first?

For Intermountain caregivers that are used to steady paychecks, this kind of guesswork feels risky and uncomfortable.

You need a smarter strategy that:

Matches your current investments with your future income needs
Minimizes market risk when you’re most vulnerable
Gives you confidence to spend, without fear of running out

That’s where the Perennial Income Model™ comes in.

How the Perennial Income Model™ Works

We divide your retirement into six 5-year segments, each with a specific responsibility to provide income for a five-year period of your retirement. Think of it as a series of retirement “paychecks” that change and adapt with you over time.

Segment 1 (Years 1–5): Stability and Access

This segment is invested conservatively and provides the income you need immediately in retirement. It’s your safe and dependable financial foundation.

Segment 2 (Years 6–10): Protected but Growing

Segment 2 is slightly more growth-oriented but still designed for stability. These assets will soon be your paycheck source and are positioned to support you without excessive risk.

Segments 3–6 (Years 11–30): Growth for the Long Haul

These later segments are invested with increasing levels of growth, aiming to outpace inflation and keep your income strong—even in your 80s and 90s.

Benefits for Intermountain Retirees

1. Predictable Paychecks

The Perennial Income Model™ allows us to structure distributions so that every month, you get a “retirement paycheck.” No guesswork. No scrambling.

2. Tax Efficiency

We tailor withdrawals from Roth, Traditional, and taxable accounts to reduce your tax burden over time. This is especially helpful for Intermountain retirees with both pre-tax and Roth 401(k) contributions.

3. Risk Management

The two biggest risks for retirees are market volatility and inflation. Because your early retirement years are funded conservatively, you’re not forced to sell stocks during market downturns. Money designated to provide income during the later years of your retirement is invested for growth to keep up with inflation.

4. Flexibility for Living Your Best Life, Serving, Traveling, or Giving

Whether that means traveling, serving in your church or community, or spending time with your family, the segmented design makes it easier to plan for larger, short-term expenses without disrupting your overall income strategy.

5. Confidence in Retirement

When you know what you can spend (and where it’s coming from), you make decisions with confidence. That’s a powerful shift from “Will I run out?” to “How do I want to live?”

Real-Life Application for Intermountain Retirees

We’ve used this model to help:

Nurses transition to early retirement with confidence
Physicians phasing out of practice into semi-retirement
Administrators maximizing Roth conversions during low-income years
Couples coordinating their incomes for maximum tax efficiency

Each plan is customized, but all are grounded in the same powerful structure.

Want to turn your Intermountain benefits into a clear, structured retirement paycheck? Let’s create a plan that brings lasting peace of mind.

Visit petersonwealth.com or call (801) 225-0000 to schedule your complimentary Perennial Income consultation.

Peterson Wealth Advisors is a fee only registered investment adviser. The information presented is for educational purposes only. Please consult with a qualified financial advisor before implementing any strategy.

Your Four Pension Options as an Intermountain Health Caregiver Over 60

Posted on April 1, 2026April 23, 2026 by Alex Call, CFP®

If you’re an Intermountain Health caregiver age 60 or older, the recent pension changes aren’t just informational — they’re actionable.

You’re in a unique window where real decisions need to be made. And the good news? You have options.

Let’s walk through the four primary paths available to you — and the bigger decisions that sit behind them.

The Four Options: Lump Sum or Monthly Pension, Now or Later

If you are 60 or older and still working at Intermountain Health, you can access your frozen pension benefit in one of four ways.

At the highest level, you must decide:

Do I take the lump sum?

Or do I annuitize (take monthly payments)?

And then within each of those, you must decide:

Do I take it now (at 60)?

Or do I wait and let it grow until 65?

Let’s break those down.

Option 1: Take the Lump Sum at Age 60

Once you turn 60, you’re eligible to take your pension as a lump sum.

This lump sum represents the present value of your lifetime pension benefit. You can:

Roll it directly into your 401(k) (even while still working)

Roll it into an IRA

Structure it within your broader retirement income plan

This option gives you the most control.

You control how the money is invested.
You control how and when it’s distributed.
You control how it integrates with the rest of your retirement assets.

For caregivers who value flexibility and long-term planning, this can be a powerful option.

Option 2: Wait and Take the Lump Sum at 65

If you don’t need the pension immediately, you can let it grow.

From age 60 to 65, the pension increases at 5% per year. That growth stops at 65, so there’s no additional incentive to wait beyond that age. For some caregivers, waiting allows:

A larger rollover amount

Better coordination with retirement timing

More efficient tax planning

A more conservative income base while keeping your 401(k) positioned for growth

But waiting only makes sense if it fits into your broader retirement timeline.

Option 3: Annuitize at Age 60 (Monthly Payments Now)

Instead of taking control of the lump sum, you can choose to receive monthly payments for life.

What’s unique about Intermountain’s structure is that you can start receiving pension income while still working. That means you could:

Continue earning your salary

Continue contributing to your 401(k)

And begin receiving pension income simultaneously

For some caregivers, this creates additional cash flow flexibility. However, once you annuitize, you’ve committed. You no longer control the lump sum. If you don’t need the income yet, those payments could also increase your taxable income unnecessarily.

Option 4: Wait and Annuitize at 65

Just like the lump sum option, if you wait to annuitize, the monthly benefit increases 5% per year until age 65. After that, there is no additional increase, so it is important to make a decision before then.

Waiting may result in a larger guaranteed monthly payment, but it also delays income and does not provide a legacy benefit if something happens to you early.

This decision often comes down to longevity assumptions, retirement timing, and how much guaranteed income you truly need.

The Three Bigger Decisions Behind the Options

While these four paths seem straightforward, they’re tied to three larger retirement decisions.

When Are You Retiring?

The pension freeze changes your projections. You may now have:

More going into your 401(k) because of the additional 2% employer contribution

A capped pension benefit that stops growing after 2026

This means your retirement age may shift slightly earlier or later depending on how the numbers fall. Before choosing an option, rerun your projections.

Control vs. Guarantees

At its core, the lump sum versus annuity decision is about this question: Do you want control, or do you want certainty?

The lump sum gives you control and flexibility.

The annuity provides a predictable income stream for life.

Neither is inherently better. The right answer depends on:

Your health and longevity expectations

Your other income sources (Social Security, 401(k), spouse’s benefits)

Your comfort with investment oversight

Your legacy goals

How Does Everything Work Together?

Your pension decision doesn’t live in isolation. It affects:

Your Social Security claiming strategy

Your Medicare enrollment timing

Your tax planning

Your withdrawal sequencing from retirement accounts

All of these decisions are interconnected. Changing one impacts the others. That’s why this isn’t simply a pension decision — it’s a retirement architecture decision.

Why Now Is the Time to Evaluate

There are pros and cons to every option. But the most important factor is this:

Time is on your side – especially while you’re still working. You have income, flexibility and options. Waiting until retirement to evaluate these decisions reduces your flexibility significantly.

Final Thoughts

If you’re over 60 at Intermountain Health, you’re in a rare position. You can:

Take control of your pension.

Begin income early.

Or allow it to grow strategically.

But the best choice isn’t determined by the pension alone. It’s determined by how the pension fits into a cohesive retirement income plan.

If you’d like to walk through your four options and see how they integrate with your Social Security, Medicare, and overall income strategy, we’re happy to help.

Peterson Wealth Advisors is a registered investment adviser. Information presented is for educational purposes only. Please consult a qualified financial advisor before implementing any strategy.

Intermountain Health Employees: When and How to Work With a Financial Advisor

Posted on March 23, 2026April 8, 2026 by Carson Johnson, CFP®, CRPC™, NSSA™

If you work at Intermountain Health, you have likely spent years caring for other people. As retirement gets closer, there may come a point when you need someone to help care for your financial life too.

Retirement comes with a lot of moving parts. You may be thinking about when to retire, how to turn your savings into income, when to claim Social Security, how Medicare fits in, and how to make tax-smart decisions along the way. Even for people who have saved diligently, it can feel like a lot to sort through.

That is where a good financial advisor can help.

Not everyone needs an advisor, and not every advisor is the right fit. But for many Intermountain employees, there comes a point when professional guidance can make retirement feel much clearer and less overwhelming.

When It May Make Sense to Work With a Financial Advisor

There are a few situations where working with an advisor can be especially helpful.

You Are Within 5 to 10 Years of Retirement

This is often one of the most important planning windows. It is much easier to make thoughtful decisions before retirement than after the fact.

An advisor can help you:

estimate whether you are on track
position your 401(k) for retirement income
evaluate Roth conversion opportunities
think through when and how to start withdrawals

You Are Facing a Major Decision

Maybe you are thinking about retiring early, going part-time, or stepping into a different role. Those choices can affect more than just your paycheck. They can also impact your benefits, taxes, healthcare, and long-term retirement plan.

A financial advisor can help you see how one decision may affect the rest of the picture.

You Feel Overwhelmed by Your Benefits

Intermountain offers valuable benefits, but that does not always mean they are easy to understand. Your 401(k), insurance options, and retirement-related decisions can start to feel overwhelming, especially when several decisions hit at once.

An advisor who understands Intermountain’s system can help clarify your options and help you avoid costly mistakes.

You Want Confidence About Replacing Your Paycheck

One of the biggest shifts in retirement is moving from a regular paycheck to living off Social Security, savings, and investments.

That can feel unsettling. A good advisor can help you build a plan for where your income will come from, how much you can safely spend, and how to make that income last. More than anything, that kind of plan can provide peace of mind.

What a Good Financial Advisor Should Help You With

A financial advisor should do more than manage investments. They should help you coordinate the bigger picture, including:

creating a retirement income plan
aligning your investments with when you will need the money, whether that be income needed now or income needed thirty years from now
minimizing taxes on withdrawals
planning for healthcare and insurance
coordinating charitable giving and legacy goals

For many Intermountain employees, these decisions are closely connected. That is why it helps to work with someone who can bring all the moving parts together into one plan.

At Peterson Wealth Advisors, we use the Perennial Income Model™, a planning strategy designed to structure retirement income over time. The goal is to create a clear income plan rather than simply withdrawing money and hoping it works. This approach is designed to protect near-term income from market volatility, allow longer-term investments time to grow, and provide a clearer path for spending throughout retirement.

How to Choose the Right Advisor

If you decide to get help, choosing the right advisor matters. Here are a few things to look for:

Fiduciary standard. You want an advisor who is legally required to act in your best interest.

Fee-only compensation. Many people prefer an advisor who is paid directly for advice rather than through commissions.

Retirement planning experience. Retirement involves more than investments. You want someone who understands income planning, taxes, Social Security, and Medicare.

A comprehensive approach. The best advisors look at your full financial picture, not just your portfolio.

Final Thoughts

You have spent your career serving others. As you prepare for retirement, it is worth asking whether you want to handle every financial decision on your own or whether having a guide would help you move forward with more clarity and confidence.

For some people, a financial advisor is unnecessary. For others, the right advisor can simplify important decisions, reduce stress, and help them retire with greater peace of mind.

Thinking about retirement and wondering whether professional guidance would help? Visit petersonwealth.com or call (801) 225-0000 to schedule a conversation.

Peterson Wealth Advisors is a registered investment adviser. This information is for educational purposes only and should not be considered individualized financial advice. Please consult a qualified financial professional before implementing any strategy.