Retirement
Congratulations! You made it to one of the most rewarding stages of your life. With the right preparation, you can spend your post-career years exactly as you like: relaxing, traveling, spending time with loved ones or cultivating new interests. One of the keys to a happy retirement is laying the groundwork now for meeting your financial needs later. As you start the retirement planning process, your primary objective should be to live off the interest on your retirement savings. This section is designed to help you reach this goal and eliminate the age-old concern about out-living your resources.
Event Checklist
- Participate in Retirement Savings Plan: 457 Deferred Compensation Plan, 401(a) Money Purchase Plan, and the Retirement Health Savings Plan
When it comes to accumulating dollars for your retirement or other long-term needs, it doesn't get much better than a plan that allow your dollars to go in on a tax-advantaged basis -- which means Uncle Sam is encouraging you to contribute to your retirement plan. No taxes are paid until funds are withdrawn. Be sure to participate in the retirement plans offered to you by your employer.
Contact the Retirement Services Unit with questions regarding the retirement process. Please contact 408.321.5575 or Retirement.Services@vta.org.
- Obtain an Estimate of Social Security Income
There is a lot of information you can request from the Social Security office. To find out what information is available, see:
- Your Retirement Benefit - How is it figured?
- Medicare
- Medicare
- Medicare Helpful Contacts
Contact the HR Department - Benefits Unit for a Benefit Change/Enrollment Form, WITHIN 60 DAYS OF THE QUALIFYING EVENT, to update your benefit information.