You’ve been saving for retirement all these years and now the time has finally come. You are ready to retire, but where do you start? It can be a scary transition for retirees. Once you have made the decision to stop working, there are still many decisions to make. We have gathered a number of resources to help you on your way and to ease the transition from employment to retirement. We encourage you to attend a retiree orientation.
Any time is a good time to start saving for the future, and using the three-legged-stool approach to saving provides a strong and stable foundation for a more secure retirement. Your defined benefit with the Public Employees’ Retirement System (珀耳斯) or your defined contribution plan through the Optional Retirement Program provides one important leg of retirement security. In addition, a strong retirement plan includes Social Security and 珀耳斯onal savings.
There a a few steps to take as you approach retirement:
- Identify the retirement plan in which you are currently enrolled
- Determine your eligibility for retirement
- Plan for health insurance during retirement
- Estimate income from your retirement plan
- Estimate your social security
- Analyze unused 珀耳斯onal and major leave to determine how many days are available to send to 珀耳斯 and how many 珀耳斯onal days remain
- Utilize our checklist
- Notify your supervisor