Baker Hughes

Financial Planning for Baker Hughes Employees

As a Baker Hughes employee, you have access to a unique set of retirement and investment options that can be key to your financial future. At RGWM, we specialize in providing personalized financial guidance that aligns with the specific benefits offered by Baker Hughes, including the 401(k), Supplemental Retirement Plan (SRP), and Employee Stock Purchase Plan (ESPP).

Our team of financial advisors are adept at navigating the specifics of the Baker Hughes benefits package. We will work closely with you to unravel the complexities of your 401(k) plan, maximize the advantages of the SRP, and effectively leverage the ESPP. Our aim is to transform retirement planning from a daunting task into a manageable and strategic part of your financial journey.

With a focus on your unique financial landscape, we’ll assess your current situation and offer customized advice. This will empower you as a Baker Hughes employee to make well-informed decisions, setting you on a course towards a secure and prosperous retirement.

How We Help Baker Hughes Employees

For Baker Hughes employees, our financial advisory services at RGWM are designed to help you navigate the complex landscape of retirement and investment planning. Here are the specialized services we offer, tailored to your unique benefits at Baker Hughes:

  • 401(k) Strategy: We provide guidance on your Baker Hughes 401(k) contributions, which can range from 1% to 50% of your eligible pay, with options for pre-tax, Roth, or after-tax savings. We also advise on choosing between various investment funds to suit your investment comfort and management preferences.
  • Employee Stock Purchase Program (ESPP) Management: We assist you in maximizing the benefits of the Baker Hughes ESPP, where you can contribute up to $12,000 per year to purchase Baker Hughes stock at a 15% discount, with no broker fees. Our expertise includes managing contributions deducted from your paycheck and tax optimal management of the stock within the ESPP.
  • Supplemental Retirement Plan (SRP) Optimization: The Baker Hughes SRP allows you to defer additional compensation and bonus earnings on a tax-deferred basis. We help you understand and make the most of SRP company contributions, which include 5% basic and 4% base contributions on certain salary and bonus deferrals.
  • Optimizing Short-Term and Long-Term Incentives
  • Identify and implement tax savings tools such as Backdoor Roth IRA Conversions

WHY DO Baker Hughes Employees

Need Financial Planning?

Your confidence is our priority. If you’re looking for a long-term approach to your financial health, we’re here to help. Our CERTIFIED FINANCIAL PLANNER™ professionals help clients meet their goals by offering guidance and support in several areas, including:

Risk Management

Energy professionals frequently are over-exposed to company stock through their 401(k) and stock-based compensation. We’ll help you protect yourself from being too concentrated in your portfolio.

Expert Advice

Our advisors have years of experience in helping professionals from energy companies. No one is better prepared to help you maximize your employer benefits and prepare for retirement.

Long-Term Success

The tax and investment landscape is constantly changing. We offer advice for every phase of your life that is at the forefront of your company’s offerings and the current tax code.

IMPORTANT DISCLOSURES:

Rhame & Gorrell Wealth Management is not affiliated with or endorsed by Baker Hughes. Rhame & Gorrell Wealth Management, LLC (“RGWM”) is an SEC registered investment adviser with its principal place of business in the State of Texas. Registration as an investment adviser is not an endorsement by securities regulators and does not imply that RGWM has attained a certain level of skill, training, or ability. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own CPA or tax professional before engaging in any transaction.  The effectiveness of any of the strategies described will depend on your individual situation and should not be construed as personalized investment advice. For additional information about RGWM, including fees and services, send for our Firm Disclosure Brochures as set forth on Form ADV Part 2A and Part 3 by contacting the Firm directly. You can also access our Firm Brochures at www.adviserinfo.sec.gov. Please read the disclosure brochures carefully before you invest or send money.

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