Overview

It’s never too early to start planning for retirement in order to ensure it goes smoothly. Here you will find information to help ensure your retirement starts well.

Planning for Retirement in Five Years

Beginning to plan for retirement

You should begin planning several years before the date you have set for retirement so that you will know what is required to continue certain benefits into retirement. There are many factors related to retirement planning, and it is literally never too early to begin. The best place to begin is with your local personnel service center. They can provide personalized assistance and they have your employment records.

Your health and life insurance coverage is of immediate concern now because you must carry coverage continuously for at least five years before your retirement or you may be ineligible to continue them.

Help from your employer

Your agency will guide you through the retirement process, supplying all of the information you need about retirement and insurance. They provide the information you need to plan for retirement, but should not advise you on what to do. You should contact your local personnel service center for assistance because they have your employment records.

When to start planning

The five year period before retirement is important because you must have insurance coverage for five years immediately before retirement to keep it after retirement. You may also need some preliminary information to make decisions about when you can afford to retire and whether to make any necessary payments to receive credit for military or non-contributory service or repay any retirement contribution refunds.

Keeping your health insurance benefits after you retire

You may continue your health insurance coverage only if you meet the following conditions: