Even though your retirement planning is helping you get ready for your last day of work, take the time to start thinking about what your life will be like after retirement. Will your financial situation be stable once you start receiving your pension, or will you need to supplement your income with your personal savings or Social Security? What will your health insurance situation be like when you are no longer working? These are important questions to ask before you file for retirement, and it’s the perfect time to start finding answers.
Preparing for Retirement: Part Four – Plan Outside the Box
The Preparing for Retirement 7-part video series discusses the main aspects of retirement planning to help NYSLRS members nearing retirement make good, informed decisions for the future. In Part Four – Plan Outside the Box, you’ll hear about other aspects of retirement planning you may be overlooking. By making sure your post-retirement financial situation is secure, you can be better prepared for the future.
Important Links for Retirement Planning
- NYSLRS Home Page
- Social Security Administration
- Getting Your Affairs in Order and A Guide for Survivors
- Where My Assets Are (worksheet)
- New York State Civil Service – Retirees
- Life Changes: How Do I Prepare to Retire?
- Find Your NYSLRS Retirement Plan
Where to Find More Retirement Planning Information
If you are close to retirement and have more questions, consider scheduling an appointment to meet with an information representative at one of NYSLRS’ consultation sites in New York State. Don’t forget to check back for the rest of the Preparing for Retirement video series, which includes retirement planning topics like:
- Information is the Key
- Repaying Your NYSLRS Loans
- Getting Your NYSLRS Retirement Estimate
- How divorce may affect your pension
- Filing your retirement application
- Choosing the option of how your pension will be paid
How great that you talk about how important it is to start planning for what to do after retirement. I am starting to make money in my life ad settle down and I want to think of retirement. I will find a great place for retirement planning nearby.
What brochure or post lists when to file your retirement application? (i.e. 1 mo., 2 mo.???)
Your Application for Service Retirement (RS6037) must be on file with us 15–90 days before your retirement date. You can get the form from our website, our Call Center, one of our consultation sites, or from your employer. Make sure to enter all requested information on the form and have it notarized.
If you mail it by Certified Mail – Return Receipt Requested, we will consider your application filed on the date it was mailed. Complete filing instructions are on the form. Please don’t give your application to your employer.
You may want to read our Countdown to Retirement series for more information, or our How Do I Prepare for Retirement presentation.
We hope this answer has been helpful.
I realize you set this (Plan Outside the Box) up for everyone, but you should have the text available for those of us who speed read and don’t have the time to look at a seven part video production. Not interested in a soap opera…..interested in having material I can reference. And I must have missed the first three episodes since the link took me to part 4.
Thank you for your comment on our seven-part video series, Planning for Retirement.
Our booklet, How Do I Prepare to Retire, is a good reference tool. It’s available on our website at http://www.osc.state.ny.us/retire/publications/vo1709.php
You may also be interested in our series of articles entitled, “Countdown to Retirement.” Here’s a list of the current Countdown posts:
• Countdown to Retirement: The Last 18 Months: https://www.nyretirementnews.com/countdown-retirement-last-18-months/
• Countdown to Retirement: What to Do 12 Months Before Your Retirement Date: https://www.nyretirementnews.com/countdown-retirement-12-months-retirement-date/
• Countdown to Retirement: What to Do 8 Months Before Your Retirement Date: https://www.nyretirementnews.com/countdown-retirement-8-months-retirement-date/
• Countdown to Retirement: What to Do 4-6 Months Before Your Retirement Date: https://www.nyretirementnews.com/countdown-retirement-4-6-months-retirement-date/
We hope you find this information useful.