Retirement is Near & You Feel Confident

Congratulations on nearing retirement. When you do, you might consider employment in another field or simply follow new dreams. Even though you’re confident you’ve taken the right steps and prepared for retirement, you might be concerned with how your income could last or what benefit payment options might be available to you before you do retire.

Here are tips, as well as helpful links to our Learning Center materials, to help you stay on track with added confidence:

Stay where you are – You can keep your money in the Plan. Often, people think they must move money out of the Plan once they leave their employer. In fact, you can keep your Plan right where it is. By staying with the Plan, you might avoid costs like front-load fees and commissions that sometimes come with new accounts.

• Learn about the Benefits of Staying with the Plan, including how to continue taking advantage of tax-deferred growth and potentially lower fees.

Re-evaluate your investments – Talk with your Account Executive to request an account review. They’ll take you through all the steps you should consider when preparing for retirement. You can gain understanding to any need to change your current account structure. And because investing involves market risk, including possible loss of principal, they’ll help you understand how that risk may affect your retirement years and what strategies you may want to consider for it.

• Review the Retirement Checklist to make sure you’re prepared to take benefit payments.
• Read more about the Benefits of Consolidation to make money management a little easier.

Prepare for payouts – You might be surprised at how many choices you have when it comes to receiving income in retirement. Whether it’s income you receive in a lump sum, partial lump sum, systematic withdrawal, or rollover, we have information to help you better understand each of these options.

• Get tips on How to Start Receiving Income. Consider all the options to help make your investments last and possibly pay less tax overall.
• Learn more about withdrawal options in Transitioning From Investing to Spending.
• Get more info on How to Take RMDs, or Required Minimum Distributions, when you reach age 70 ½.

Additional articles or video you can use to learn more:

• Investment strategies for managing my risk – Get tips on how to be prepared for risks you may face.
• The cost of inflation - There are things that are out of your control. Learn more about how inflation may affect your savings.
• Social Security – You may want to supplement your Social Security benefits by investing in the Plan.
• Living Longer in Retirement – Many public sector employees retire early and may need to live 30 years or more on their savings.
• Market Risk – The market is ever-changing. Learn how to weather the storm.

Get the help you need

You are heading for retirement and your life may have changes ahead. We’re here to help you through this transition – if you have any questions or would like to just talk about retirement, call your Account Executive today.