Approaching Retirement

Here are some things to consider as you get closer to retirement:

Become familiar with your retirement plan. 

Attending a 'Ready to Retire' webinar can help you better understand how your MPERA-administered benefit works and when you can start receiving it. Plan to attend a training 1 to 3 years before retiring.  Visit MPERA's member education page for our webinar schedule. If you cannot attend a live training, visit our Member Educational Video Library for a recorded presentation.

Are you saving enough? 

Your MPERA-Administered Plan and Social Security may not be enough retirement income. Consider enrolling in your employer-sponsored supplemental retirement saving plan.  You may be eligible to participate in the State of Montana’s Deferred Compensation Plan 457(b).  For more information, visit our 457(b) Plan Introduction webpage

Social Security  

Become familiar with Social Security Administration’s website for training, benefit estimations, locate your local representative, and more. MPERA education hosts live social security webinars bi-annually.  If you cannot attend live, visit our Member Educational Video Library for a previously recorded presentation.

Medicare

Navigating Medicare and health coverage as a retiree can be a challenging topic. Visit Medicare’s website for more information. Start today to create your plan for tomorrow.

Financial Wellness  

Your overall financial wellness is important.  Do an assessment of your finances, debt and savings.  Consulting a financial planner can help you assess your financial retirement readiness. 

Estate Planning  

You have an estate if you have property and possessions. Having a will in place will determine what happens to your estate after your die. We encourage all members to learn more by attending the Estate Planning Seminar presented by the Montana State University Extension Service.