URP Members : Getting Ready to Go

Transitioning from Work to Retirement

It takes time and study to fully understand the options when converting your savings to retirement income.
Many people are concerned that their retirement income will:

• be adequate to meet expenses,
• not run out during their lifetime,
• keep pace with inflation,
• be flexible enough to meet unexpected expenses,
• continue for their spouse's lifetime after they're gone,
• and that they'll have adequate health insurance

As you consider retirement it's a good idea to:

Begin reading the material about receiving retirement income
Attend a Ready to Go workshop
Estimate your retirement income or order an illustration directly from the fund sponsor(s) you invest with

Countdown to Retirement

You may schedule a meeting with the CWU Benefits staff to discuss income options, and for assistance with the following:

About 3 months before retirement,

Order the forms to being receiving income from the fund sponsor(s) you invest with
Contact Social Security to begin receiving income

About 1 month before retirement,

Return the completed income forms to Social Security and the fund sponsor(s) you invest with
Sign up for continued medical insurance with the benefits office

Other Information

Be sure to visit the web pages on estimating your retirement income and on investing and financial planning.

NOTE: The University and the Benefits Office staff cannot provide investment advice to employees.