Planning for life after retirement should involve looking at one's finances. However, there is much else to be considered, including health care, planning and maintaining an active and healthy lifestyle, and possible relocation. A list of resources is available below to help explore these topics.
DIRECTIONS Pre-Retirement Planning Virtual Meetings - These webinars are largely geared towards ERS members. They are two half day virtual meetings that reviews post-retirement employment, budgeting and financial planning, legal affairs, health insurance, Social Security, Medicare, the NYS Deferred Compensation Program (NYSDCP), and a pension from ERS.
TRS Members - Pension Retirement Education Program (PREP) seminars are designed to help you prepare for retirement, understand your TRS benefits and provide some essential retirement planning tips.
ORP members should contact their investment provider(s) for financial planning). Registration is available to new attendees only who are at least 55 years old and within 5 years of retirement - visit the website for a schedule of seminars at various locations and contact your campus benefits administrator if interested in attending.
Self-Help Guide to Retirement Planning - a comprehensive retirement planning companion booklet to the DIRECTIONS Pre-Retirement Planning Seminar.
DOL Retirement Toolkit -a retirement planning manual made available by the Dept. of Labor, Social Security Administration, and the Centers for Medicare & Medicaid Services; designed for those age 50 and over.
NYSHIP Online Planning to Retire- The New York State Health Insurance Program Online site that includes planning information, publications and videos to help you prepare for retirement.
When You Retire - explains what you need to know before separating from State service. It covers requirements for continued NYSHIP coverage in retirement, how Medicare coverage changes once you stop working, and how sick leave credit works.
Medicare & NYSHIP -explains how NYSHIP changes once you’re Medicare-eligible, important Medicare-related requirements for continued NYSHIP coverage, and how NYSHIP and Medicare coordinate to provide you care.
Your Coverage in Retirement - explains what you need to know after separating from State service. It discusses reimbursements, how coverage changes if you return to work, and continued coverage for surviving dependents of retirees.
Sick Leave Credit Estimator - use this to estimate the value of your sick leave credit to help pay retiree NYSHIP premiums.
Retiree Dental & Vision Coverage - information about coverage options in retirement.
NYSHIP General Information Book (Retirees) - information about NYSHIP retiree coverage, and how retiree coverage works.
Fidelity's Social Security Tool - use this tool to help determine the optimal time to claim your Social Security benefits
Social Security & Medicare - enroll online to receive benefits; set up a mySocialSecurity account
Financial Planning - a list of tools and resources to assist with financial planning
NYS Pension Taxation by State - a listing of NYS pension taxability in other states
Planned Giving - information about the procedures and benefits related to giving a gift to a SUNY campus foundation
SUNY Plan Distributions - information about distribution options, authorization, and taxation for SUNY plan contracts
For further information and/or assistance, please contact the Benefits Office at your State-Operated or Community College campus.