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Steps to Take

The Planning Phases of Retirement

  • A. 10-15 years prior to retirement
  • B. About 60-90 days prior to your determined retirement date

A. 1-10 years prior to retirement

  • Step One: Begin to investigate and review retirement income from all sources - IRSs, pensions, & 403(b)
  • Step Two: Establish or update a will.
  • Step Three: Designate a power of attorney or a trust.
  • Step Four: Review and if necessary update beneficiaries.
  • Step Five: Attend a Retirement Planning Workshop.
  • Step Six: Contact or make an appointment with a representative from your 403(b) investment carrier(s).
  • Step Seven: Start to re-evaluate your tax plan.
  • Step Eight: For Faculty (at one year) Notify your Department Chair and appropriate Dean. For Staff (from one year to 60 days) – notify your supervisor.

B. About 60-90 days prior to your determined retirement date

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

  • Step One: Approximately 90 days prior to retirement, contact local Social Security and Medicare office.
  • Step Two: Approximately 90 days prior to retirement, make an appointment with a representative from your 403(b) investment carrier(s).
  • Step Three: Approximately 60 days prior to retirement, make an appointment with a Benefits Representative at 914-923-2828.
  • Step Four: Approximately 60-90 days prior to retirement, remind your supervisor about your impending retirement (Non-Faculty) or contact your Department Chair about your impending retirement (Faculty).