Are you ready to retire? There is a lot to think about, including how to collect your retirement income, choose retiree medical benefits and wrap up your final months with the state. As you start the process, here are a few things to consider.

If you haven't already done so, talk with your supervisor and human resources office to let them know that you are ready to retire. Do this as soon as practical, but your official retirement process cannot begin more than six months before your retirement date.

Reach out to your Employee Assistance Program (EAP) – EAP can provide resources such as financial consultation about preparing for retirement, Retired Senior Volunteer Program (RSVP), etc. Universities and Colleges; call your HR department for information.

FRS Pension Plan Members – Get an estimate of your retirement income and understand what's necessary to start your benefit.

Work with your agency HR office and the Division of Retirement to make choices about how you want to receive your benefits, and follow steps to completing the forms and providing documentation.
Determine if you are eligible and would like to participate in the Deferred Retirement Option Program (DROP)

FRS Investment Plan Members – Take advantage of the resources available to you.

Call the MyFRS Financial Guidance Counselors at 866-446-9377 to discuss your retirement income.
Go online to MyFRS.com. From the home page, click Resources in the left tool bar to use the tools available. For example, use the online retirement calculators to estimate your spending and expenses. You can also review the various articles on planning for retirement under Publications in the Resources menu.

If you participate in the state's Deferred Compensation program, you may start receiving your account balance 30 days after your official separation date (61 days after your last work day) or defer the benefit until a later date. You can visit the Deferred Compensation page to learn about your options or you can contact your investment provider(s) for a distribution request form.

Determine if you'll enroll in the state's Retiree health and life insurance benefits. You should contact the People First Service Center at 866-663-4735 to find out about your eligibility and visit the myHealth page to view your coverage options.

Be sure to complete all of the necessary forms, provide documentation necessary and follow up with all the state program areas, including your agency human resources office.