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| Now Showing: Life Event Guide to Benefits |
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| RETIRING |
The good news about retirement is that advances in science, technology, and living standards have led to longer life expectancies. This means that you can expect longer retirement years than previous estimates indicated. This allows for more time with family and friends and time to achieve those lifelong aspirations.
You should remember to include your family in your planning. It is important that they know your wishes, especially in regard to topics such as long-term care. They will also be a great resource for further information and, more important, of support.
By planning, you may avoid some of the pitfalls that many retirees of today face, and you will have a greater probability of a comfortable retirement.
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Benefit Plan Issues
On this site you can visit the BenefitTabs, the Online Summary Plan Booklet, or even the complete Plan Rules and Regulations to gain comprehensive knowledge of your pension benefits. In gaining a basic familiarity with your pension benefits early on you will establish a firm ground upon which you may conduct your future planning.
If you have not already begun drawing retirement benefits, you may do so at age 65, even if you continue to work. This is because age 65 is the Plan's "Normal Retirement Age". Click here to learn more.
You should also review the discussion in the Online Summary Plan Booklet regarding Eligibility and Benefits under the Retiree Health Plan. (Note also that, unlike the Pension Plan, no vesting of benefits is granted under the Retiree Health Plan.)
Also of interest to retirees is how Medicare affects your health benefits. You must be sure to enroll in advance for Medicare Part B PRIOR TO YOUR 65th BIRTHDAY; click here to read about how enrollment affects your benefits. In addition you should review the coordination of benefits rules.
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External related links
(These are listed for your convenience. The sites and the contents of the sites are not sponsored or endorsed by your benefit plans. Use them at your own risk.)
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- Social Security - - The Social Security homepage offers education on how your retirement
benefits are figured, how social security may change in the future, how
it's financed, and other basic facts and figures. Check this site on how to
apply for your benefits, how to appeal these benefits, and everything else
regarding social security.
- Edelman Financial Center - -The Edelman Financial Center provides advice on retirement planning.
Articles address how to roll over accounts, how to avoid paying penalties,
retiring at a young age, and more. Links to a financial calculator, books
and tapes by Ric Edelman, and other websites.
- Quicken Retirement - -Learn about the major retirement basics such as 401ks, Keoghs, pensions,
and IRAs. Devise your own invdividualized retirement strategy by using
their Retirement Plan calculator tool.
- Nolo Retirement - - Information on retirement plans, benefits, estate planning, and
long-term healthcare. There is also a section on the personal concerns of
retirement.
- Medicare - Government Medicare site.
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