Retirement
Preparing for retirement is an important step, and understanding what to do ahead of time can help make the process smoother. The steps below outline key actions to take as you plan your transition into retirement.
How it Works
1. Speak to a Representative from TRS/PSERS
PSERS Members:
Contact a representative from PSERS at 1-800-4609 to review your retirement eligibility, estimated benefits, and timeline. They can help you understand your options and guide you through the retirement process. You can apply here online or download the application here. Note: applications must be submitted no sooner than 90 days before your date of retirement.
TRS Members:
Visit the TRS website or call 1-800-352-0650 to access your retirement account and planning tools. From there, you can run benefit estimates based on different retirement scenarios, review your latest member statement with projected benefit amounts, schedule a counseling appointment, and submit your retirement application online. It’s recommended to apply up to six months before your planned retirement date. You can apply online here. After submitting your application, you will receive a final estimate of your retirement benefits.
2. Notify Your Supervisor
Once you’ve confirmed your retirement plans, notify your supervisor of your intended retirement date. Providing advance notice allows time for planning and a smooth transition.
3. Make Sure Your Address Is Correct in ESS
Verify that your mailing address is up to date in the Employee Self-Service (ESS) system. This ensures you receive important retirement and benefits-related communications.
4. Understand How State Health Premium Payments Work
Review how your health insurance premiums will be handled in retirement. Payment processes may differ from active employment, so it’s important to understand your options and any required actions.
5. Set Up Dental and Vision Benefits for Retirement
As a retiree from BCSS, you are eligible to continue the dental and/or vision benefits you have as an active employee. Retirees will not have an Open Enrollment, so the election you make at retirement will remain the same unless you cancel your plan(s). Keep in mind that you may receive further information from Workterra should you elect to continue your coverage, so please be on the lookout for that.
6. Consider Other Benefits
Take time to review additional benefits that may be available to you in retirement, such as Voluntary Term Life Insurance, Critical Illness, and Student Loan Forgiveness.
7. Contact Corebridge to Discuss Your Voluntary Supplemental Retirement Plan
Consider speaking with a financial advisor to review your account, discuss distribution options, and plan for long-term financial stability.
Keith Eason
(706) 424-4329
keith.eason@corebridgefinancial.com
Click here for a direct link to Keith’s calendar.
Ariel Gibson
(470) 433-3634