A Suggested Time Table - 60-90 Days Before Retirement
This is the time to take action to implement decisions you have reached about
benefit plan coverage during retirement.
Step One: 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. You can call for an appointment or for forms at 1-800-772-1213. The
Durham area Social Security Administration office is located at 3004 Tower Blvd
and can be reached at 919-541-5442. You can find booklets online as well as a
local office locator at the Social Security Administration home page, located at www.ssa.gov.
Step Two: Approximately 90 days prior to retirement make an appointment with a representative from your 403(b) 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 to retirement.
For the addresses and telephone numbers of local 403(b) investment carrier
representatives, you may visit the
Investment Carriers page at Duke's Retirement Plans Web Site. Telephone
numbers and web sites for investment carriers may also be found on the
Contact Information page.
Step Three: If you are an ERP member, request an estimate of benefits approximately
90 days prior to retirement.
If paid on the biweekly payroll,
request an
estimate of your ERP benefit from the Human Resource Information Center (HRIC)
located at 705 Broad Street.
Step Four: Approximately 60 days prior to retirement make an appointment with a Benefits Representative at
919-684-5600.
This appointment should be used to help you evaluate benefits and complete
required paperwork for those benefits that you are eligible to continue after
retirement. The Benefits office is located at 705 Broad Street.
Step Five: Approximately 90 days prior to retirement remind 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 confirm
any prior arrangements you have made about departmental space and duties if you
expect to remain active in your department after retirement.
|
