One of the best parts of my job is getting to work with members at Pre-Retirement Seminars. It is an exciting time in members’ lives as they begin to think about transitioning from their careers into a long-awaited, hard-earned retirement. But such a transition is not without a few major decisions, one of which is selecting a LAGERS payout option. Like many decisions you will have to make as you begin your retirement journey, choosing a payout options is an extremely important one, especially since it cannot be changed down the road. It’s only natural then, that many of our members’ top question as they file into the seminar room is ‘how do I know which is the best payout option for me.’
A member recently emailed the following: "I downloaded the Application for Retirement. I will fill it out and send it in, but is there anything else I need to do at this time?"
Luckily, the process for retirement at LAGERS is simple. The member is right in that the first step is to download, complete, and return the Application for Retirement 30 -90 days prior to when you want to receive your first benefit payment. However, you should be aware you can apply online through your myLAGERS account. You do not have to use a paper form or standard mail.
Planning for your retirement is one of the most exciting times in your life. You’ve worked hard all these years and now it’s your time to sit back and relax! Before you ride off into your sunset, you will want to make sure you avoid some common pre-retiree mistakes that could derail your retirement. I sat down with LAGERS’ Senior Benefit Specialist, Diane Towne, and talked with her about some of these common mistakes LAGERS members encounter as they near retirement.