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Pre-Retirement Checklist

 

Within five years of expected retirement, attend an association pre-retirement seminar for information on the transition period, Social Security and Medicare benefits, estate planning, ASRS option choices and financial planning. Contact your AEA-Retired, or ASRS representative for information about these seminars.

 

•Examine your last Statement of Account (ASRS) and verify the information to determine if all credited service for which you are eligible has been purchased and credited to your account.

 

•Within three years of expected retirement, visit your Social Security office to verify your earnings record.

 

•Contact ASRS at www.azasrs.gov to secure an estimate of your retirement benefits.

 

•Check with your school district's business office, and read your collective bargaining agreement to find the insurance coverage that will be provided once you retire, or what you must do to maintain group coverage. ASRS makes coverage available to members. Information and instructions are available on ASRS website.

 

•Check your contract for other negotiated retirement benefits such as early retirement incentives.

 

•Consider very carefully the various retirement options available, based on your personal financial circumstances. At this point, make arrangements for a free retirement seminar with AEA-Retired representatives, and with ASRS.

 

•Secure an application for retirement from your local school district business office and submit it to your employer along with your letter of resignation.

 

•Because of recent tax reform legislation, it is advisable to meet with a tax consultant to determine the amount of federal income tax to be withheld.

 

•Consider applying for direct deposit of your retirement checks.

 

•AEA recommends that you join AEA-Retired to maintain your affiliation with AEA and continue to receive benefits of membership. Visit the AEA-Retired section of the website for more information.