Retirement Planning Decisions
Retirement day has arrived- now what?
On your retirement day, your employer will likely ask you to provide
written instructions for how to manage your employer sponsored benefits.
The critical point is that many of these decisions are irrevocable.
This means that many of these decisions you will have to live with for
the rest of your life.
So, the starting point for your vital
retirement day decisions is to:
• First, know all of your available options. Obtain a copy of
your current employer sponsored benefits plan. This information may
be available in either written or online format.
• Second, request sample copies of your retirement election forms
so you can review them. You will also want to provide copies to the
members of your professional financial team for review.
Most of your retirement day decisions will center around how to handle
your company funded retirement plans. Your choices will typically fall
into one of two categories: lifetime annuity pension or lump sum, one-time
buyout.
