Planning for Retirement / Retiring


 

If you are about to apply for Social Security retirement, you must choose an electronic payment method - paper checks will no longer be an option. The U.S. Department of the Treasury recommends two electronic payment methods for federal benefit payments: direct deposit or the Direct Express® Debit MasterCard® card. Visit www.GoDirect.org for more information.

For direct deposit, have these three items handy:
  • Your financial institution's routing transit number
  • Account type (checking or savings)
  • Account number.
  • Already receiving federal benefit payments by check? You must switch to electronic payments by March 1, 2013. Sign up now at www.GoDirect.org or (800) 333-1795.


    Agency: U.S. General Services Administration


    A 24-page cooperative publication of the Certified Financial Planner Board of Standards and the Federal Citizen Information Center, U.S. General Services Administration. The publication discusses “red flags,” taken from a CFP Board survey of situations where a consumer had been taken advantage of by a financial advisor. Each of these red flags: 1. Identifies a common situation where consumers may be victimized. 2. Describes the warning signs of fraud or abuse. Shares real-life situations in which consumers were abused. 4. Shows what consumers can do to protect themselves.


    Agency: U.S. General Services Administration


    You can work while you receive Social Security retirement (or survivors) benefits. If you are under full retirement age for the entire year, we deduct $1 from your benefit for each $2 you earn above the annual limit. In the year you reach full retirement age, we deduct $1 in benefits for every $3 you earn above a different limit, but we only count earnings before the month you reach full retirement age. Starting with the month you reach full retirement age, you can get your benefits with no limit on your earnings. Visit www.socialsecurity.gov/retire2/whileworking.htm to learn what the earnings limits are for this year.

    Audience: 
    Workers near retirement, retirees

    Agency: Social Security Administration


    It’s that time of year -- the time to ring out the old and ring in the new, to ditch bad habits and replace them with good ones. The SEC’s Office of Investor Education and Advocacy can’t guarantee you’ll lose weight, or become a better human being, but we can give you some suggestions to help you whip your finances into shape.


    Agency: Securities and Exchange Commission


    This publication has a lot of information to help individuals take charge of their retirement planning. Written for workers who are 10 to 15 years from retirement, it will help you calculate your income, savings and likely expenses in retirement to get a better idea of whether you are on track. The publication provides tips to help you close any savings gap and to make your money last through your retirement. The online worksheets do the calculations for you.


    Agency: U.S. Department of Labor


    This report identifies patterns of investor behavior, including common investing mistakes, based on a comprehensive review of academic journal articles by the Library of Congress. Learn how to understand and avoid investing behaviors that can undermine investment performance, such as trading frequently, underdiversifying, and focusing on past performance.


    Agency: Securities and Exchange Commission


    Providing for health care is an important part of retirement.  This publication provides information on the circumstances when employer-provided retiree health benefits can be reduced or terminated and the importance of reviewing your plan documents.

    Audience: 
    Workers near retirement, retirees

    Agency: Department of Labor


    If you have participated in a traditional pension plan, a 401(k), or other employment-based retirement plan, you will want to know how to file a claim for your benefits. This publication outlines some of your plan's obligations and briefly explains the procedures and timelines.
    For Spanish article click here.

    Audience: 
    Workers, Retirees

    Agency: Department of Labor


    The Federal Ballpark Estimate is a savings goal worksheet.  The Federal Ballpark Estimate is modeled on the Ballpark Estimated developed in partnership with the American Savings Education Council (ASEC).  It is tailored to include the retirement benefits of Federal employees.  You can use the Federal Ballpark Estimate to automatically calculate estimates of future Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS) retirement benefits and Thrift Savings Plan account balances.  It will also let you know how well you are doing in meeting your savings goal.

    Audience: 
    Federal employees

    Agency: Office of Personnel Management


    This easy-to-understand publication starts you on the way to setting goals and putting your retirement high on the list of personal priorities.  This booklet will help clarify your retirement goals and help you make saving for retirement and other goals a habit.  You’ll learn that there is no such thing as starting too early or too late.
    For Spanish article click here.

    Audience: 
    General Public, workers, women

    Agency: Department of Labor


    More and more employees are saving and investing for retirement through 401(k) plans. The information contained in this booklet answers some common questions about the fees and expenses that may be paid by your 401(k) plan. It highlights the most common fees and can help you make informed investment decisions. 

    Audience: 
    Workers

    Agency: Department of Labor


    This site was developed by the U.S. Department of Health and Human Services to provide information and resources to help you and your family plan for future long-term care (LTC) needs.
    At least 70 percent of people over age 65 will require some long-term care services at some point in their lives.  And, contrary to what many people believe, Medicare and private health insurance programs do not pay for the majority of long-term care services that most people need - help with personal care such as dressing or using the bathroom independently.  Planning is essential for you to be able to get the care you might need.

    Audience: 
    middle-aged adults, older adults, persons with disabilities, caregivers of older adults

    Agency: Department of Health and Human Services


    This tool is designed to help explain what long-term care services are available, how much you can expect to pay for long-term care, and what financing options are available to support your long-term care costs.  The results of the Long-Term Care Planning tool are general in nature and not intended to replace comprehensive financial and other long-term personal planning.

    Audience: 
    older adults, caregivers of older adults, persons with disabilities

    Agency: Department of Health and Human Services


    If you are a Medicare beneficiary, you are eligible for Medicare prescription drug coverage, regardless of your income, health status, or current prescription expenses.  This website will help you learn more about the options available to you.

    Audience: 
    older adults (65+), caregivers of older adults, disabled persons

    Agency: Department of Health and Human Services


    Medicare is the nation's largest health insurance program, covering nearly 40 million Americans. The Medicare program is for people age 65 or older, some disabled people under age 65, and people of all ages with end-stage renal disease (permanent kidney failure treated with dialysis or a transplant).
    This online tool is designed to help individuals determine whether or not they are eligible for Medicare, and to provide information about enrollment.  If you are not a U.S. citizen or a lawfully admitted alien who has lived in the U.S. continuously for a five-year period, please contact Social Security at 1-800-772-1213 for your Medicare enrollment and eligibility instead of using this tool.

    Audience: 
    older adults (65+), caregivers of older adults, disabled persons

    Agency: Department of Health and Human Services


    The Medicare Program is the nation's largest health insurance program, covering nearly 40 million Americans that are age 65 or older, disabled, and/or experiencing end-stage renal disease.  This site provides an overview of the plans available through Medicare.

    Audience: 
    older adults (65+), caregivers of older adults, disabled persons

    Agency: Department of Health and Human Services


    Tips and strategies for handling your finances at different stages of life.

    Audience: 
    Youth, Elderly/Seniors, Caretakers, Young Adults

    Agency: Federal Deposit Insurance Corporation


    Getting in shape financially is vital to a person’s overall well-being. For senior citizens, people with disabilities and others who receive federal benefits including Social Security and Supplemental Security Income (SSI) by check, switching to electronic payments is a simple, but important step toward improving their financial fitness. One of the options for electronic payments that Treasury suggests as an easier alternative to checks is Direct Express® Debit MasterCard® card.  This Treasury-recommended prepaid debit card provides a safe, user-friendly alternative for Social Security and Supplemental Security Income recipients.

    Audience: 
    Social Security, Supplemental Security Income and other federal benefit recipients

    Agency: Department of the Treasury


    Women face many challenges in saving for retirement. This brochure highlights some of those issues and provides tips to get started.  Also available in Spanish.

    Audience: 
    Women, Workers

    Agency: Department of Labor


    If you are saving for retirement at work, this publication will help you understand your plan and the federal law that governs your plan.  It explains what information you should review periodically and where to go for help with questions.
    For Spanish click here.

    Audience: 
    Workers, Women

    Agency: Department of Labor


    As the sponsor of a retirement plan, you are helping your employees achieve a secure financial future. Federal law requires that those responsible for managing retirement plans carry out their responsibilities prudently and ensure that the services provided to their plans are necessary and that the cost is reasonable.  This booklet will help you better understand and evaluate your plan’s fees and expenses.

    Audience: 
    Employers

    Agency: Department of Labor


    Retirement is expensive.  Take charge of your financial future and start preparing now.  This brochure outlines ten steps to help you start saving for retirement.
    For Spanish article click here.

    Audience: 
    General public, workers

    Agency: Department of Labor


    Starting a job, marriage, divorce, retirement, death - major life events affect your retirement. Learn more about how major life events may influence retirement planning.


    Agency: Department of the Treasury


    Information on Social Security retirement benefits: discussion of credits needed for benefit eligibility, benefit calculators for estimating benefit levels, questions to ask before applying for benefits, and a guide on how to apply for benefits.


    Agency: Social Security Administration


    Social Security AdministrationSocial Security Administration

    Definition of the Social Security Statement -- a concise, easy-to-read personal record of the earnings on which you have paid Social Security taxes and a summary of the estimated benefits you and your family might receive. Plus a sample Statement, information on how to request a Statement, and answers to frequently asked questions about the Statement.


    Agency: Social Security Administration


    Social Security AdministrationSocial Security Administration

    The Retirement Estimator produces estimates of Social Security retirement benefits based on your Social Security earnings record. These estimates are provided for three different ages -- early retirement age, full retirement age, and age 70.


    Agency: Social Security Administration