Approaching retirement is an exciting time, but also an important milestone! So, we’re providing the resources, tools, and final steps you can take to help keep your retirement future on track.
Education and Training Tools
Be sure to take advantage of your tools and resources available on the State of Connecticut Defined Contribution Plans’ dedicated website. Discover new webinars that cover important options, features, and benefits available to you in your State of Connecticut 457 Deferred Compensation Plan and 403 (b) Plan.
Your Retirement Checklist
- Step 1 – Watch the quick, on-demand webinar “Options to Consider Before and After Retirement”
for an overview of your retirement plan options, benefits, and best practices.
- Step 2 – Next, watch the ““Deferral of Vacation and Sick Leave Payouts from your Final Paycheck Tutorial” to help you get the most out of your final few paychecks before you retire.
- Step 3 – If you have a 457 Plan and are not eligible to participate and contribute to the 403(b) Plan, the “457 Plan Special 3-Year Catch-Up Option Tutorial” is an insightful webinar on how to help boost your retirement savings. Download, complete and submit the application as soon as possible.
- Step 4 – Access your account online by registering at Prudential Retirement.
- Step 5 – Ensure your wishes are met by reviewing and updating your beneficiary information.
- Step 6 – Review the Required Minimum Distribution (RMD) informational flyer
to find out how your withdrawal payments will be distributed.
- Step 7 – Still have questions? Attend a live webinar or Q&A session by simply scheduling a meeting.
- Step 8 – When you are about two months away from retirement, download the ‘Deferral of Vacation and Sick Leave Payout’ form found on the Forms page. Note: You may watch the on-demand tutorial as needed and then submit the form based on the payroll cut off schedule.
A retiring member of the ARP or a Hybrid Plan member who elects a Lump Sum Payment will not be entitled to retiree health coverage unless he or she uses plan assets to purchase an annuity in the minimum amount of $10,000. (To preserve spousal health benefits after the member's death, a married member of the ARP or a married member of the Hybrid Plan electing the Lump Sum Payment must purchase a minimum $10,000 two-life joint annuity naming his or her Spouse as co-annuitant.)
For information, please consult the Retiree Health Insurance
eligibility memorandum .
Upon retirement, the retiree should call Prudential Retirement at 844-505-7283 to start the process of establishing the annuity.
For important information and recorded workshops about the Employees
Retirement System, please visit your employer's website and click on "State Retirees."
