Retirement Checklist

Checking all the boxes on retirement planning

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Retirement is a process that takes careful planning and preparation. Refer to this checklist to see if you are on track. Check out Getting Ready to Retire for additional resources. Have questions? Reach out to

□ Discuss retirement plans with your spouse.
□ Prepare a realistic retirement budget.
□ Contact current and former employers for pension and retirement benefits information.
□ Determine what additional health care or long-term care coverage you’ll need.
□ Assess the adequacy of your investment portfolio; increase your retirement plan contributions and your savings in taxable accounts if necessary and determine if you can still retire in one year.
□ Review your preparations once a year and adjust them as necessary.
□ Meet with your financial adviser and/or attend a retirement planning seminar.

Meet with a financial advisor or attend a retirement workshop to help determine your financial situation and potential income sources and update your retirement budget.
□ Notify your manager/department of your retirement. Ask your department administrator to enter your retirement date in GMS.
□ Attend a Retirement Orientation.
□ Apply for Social Security three months before you want payments to begin.
□ If you are 65 or older, sign up for Medicare parts A & B.
□ If you are a GURP participant, submit a GURP Benefit Application & Calculation Request. You will also need to request a Social Security earnings summary from

□ Contact your department to confirm your “Date of Termination” (last day of work) has been entered in GMS
□ Review/update your contact information and print out prior paystubs and tax forms from GMS for your records. Your access will be suspended on the date of your termination.
□ Once all GMS processes have been completed, your information will be provided to retiree benefits administrator, AleraEdge. They will provide instructions for enrolling in, and paying for, you retiree health benefits, if applicable. You must return enroll in retiree medical/dental or defer coverage within 30 days. If you enroll in retiree medical/dental coverage, it becomes effective the first day of the month following your retirement date.
□ 403(b) participants should contact their retirement vendors regarding distribution options ten days after receiving their final paycheck.