HR/Benefits/Retirement Planning Guide/About 60-90 Days Before Retirement

About 60-90 Days Before Retirement

This is the time to take action to implement decisions you have reached about your benefit plan coverage during retirement.

 

1. Contact local Social Security Office if retiring at age 62 or older.


This is the time to arrange for the start of your Social Security Retirement Income, if eligible. You can call for an appointment or for forms at (800) 772-1213. The Northern Nevada area Social Security Administration office is located at 1170 Harvard Way, Reno and can be reached at (800)352-1605. You can find booklets online as well as a local office locator at the Social Security Administration home page, located at www.ssa.gov.


2. If you are a PERS member, request an estimate of benefits approximately 90 days prior to retirement. If you are a member of the Retirement Plan Alternative 401(a) program make an appointment with a representative from your investment carrier(s).


If you are a classified employee, or a Faculty member who had an active account with PERS at the time you were hired by the Nevada System of Higher Education, and you are a member of the Public Employee Retirement System of Nevada (PERS) request an estimate of your PERS benefit from the Public Employees’ Retirement System of Nevada at (866) 473-7768 or by visiting them at 693 W. Nye Lane, Carson City.  

If you are a Faculty member participating in the Retirement Plan Alternatives 401(a) program you should schedule a meeting with a representative from your 401(a) investment carrier(s).  The purpose of this meeting should be to clarify any additional questions you may have about your accounts including current fund allocation, accumulated balances, and distribution options. Mainly, this meeting should establish what action steps you need to take to implement your distribution decisions. These will include what forms need to be completed and when they need to be received in order to assure a smooth transition into retirement.

3. Approximately 90 days prior to retirement make an appointment with a representative from your 403(b) Tax Sheltered Annuity or 457 Deferred Compensation supplemental retirement program investment carrier(s).


The purpose of this meeting should be to clarify any additional questions you may have about your accounts including current fund allocation, accumulated balances, and distribution options. Mainly, this meeting should establish what action steps you need to take to implement your distribution decisions. These will include what forms need to be completed and when they need to be received in order to assure a smooth transition into retirement.


4. Approximately 90 days prior to retirement notify your supervisor about your approaching retirement (Non-Faculty) or contact your Department Chair about your approaching retirement (Faculty).


If Non-Faculty, make sure that your supervisor is aware of your retirement date so that all necessary arrangements can be made. If Faculty, this is the time to remind your Department Chair of your approaching retirement and address any final transition issues.


5. Approximately 60 days prior to retirement make an appointment with a BCN Benefits Representative at (775) 784-6844.


This appointment should be used to help you evaluate retirement benefits and complete required paperwork for those benefits that you are eligible to continue after retirement. The BCN Benefits office is located in Room 2, Artemesia Building, 70 Artemesia Way, Reno.


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