Retirement Plan Basics

These resources will help you to understand the different types of retirement plans and what you should do to make sure you get the most out of your plan.

Here are some important questions to ask regarding related retirement plans:

What Women Need to Ask Themselves: 

  • Have you diversified your investments?
  • Do you know what the value of your investments is expected to be at retirement?
  • Have you planned how you will manage payouts from an employee savings plan, such as a 401 (k) plan?
  • Have you provided for ways to protect your assets, such as through life, disability income or long-term care insurance or by purchasing an annuity?
  • Want to change you retirement plan? Which plan could you roll it into? Take a look at our chart to the right to find out!

What Women Need to Ask Their Spouses:
  • Have you earned a pension(s)?
  • Do you know how much the pension will be upon retirement?
  • Will we receive a benefit in the event that you become disabled or die?
  • Do you know how much that benefit will be?
  • Will I receive a benefit if you die before me? If so, what amount?
  • When are you entitled to retire and receive a full or partial pension benefit?
  • Do you know whom we can talk to at work about this?
  • When should we discuss our overall retirement strategy to plan for our future?
  • Does your job allow you to save through a tax deferred savings plan such as a 401(k) plan or a 403 (b) account?
  • Do you have an Individual Retirement Account? Am I the beneficiary?

What Women Need to Ask Their Employers:
  • Does the company offer a pension plan? A savings plan?
  • Am I eligible for the pension plan?
  • Is the pension plan integrated with my Social Security benefit?
  • How long does it take to earn a legal right to the pension?
  • Do we have a tax deferred savings plan such as a 401(k) or a 403(b)? Does it offer employer matching contributions?
  • What will the present day value of my pension if I consider changing jobs today?

Additional Resources:

WISER's 7 Life-Defining Financial Decisions (summary)


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