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Preparing for retirement
Retirement Strategies

Learn moreGetting the most out of your retirement plan
Visit any of these links to stay up to date on the features of your plan
Browse tools and resources
Effective April 1, 2022, Empower officially acquired the full-service retirement business of Prudential. For more details, review the important information associated with the acquisition PDF File opens in a new window.
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Things to consider:
When do you want to retire? What will your retirement look like? Will you continue to work?
Cultivate healthy habits now
Saving and distribution strategies
Social Security benefits
If you'll receive Social Security benefits, determine:
You’ll have reduced benefits if you worked in the public sector and didn't pay into Social Security during certain years. Learn more at ssa.gov/gpo-wep.
Things to consider:
Retirement income needs:
Log in to your account and use the Retirement Income Calculator! You'll find out if you're on your way to having the income you'll need in retirement.
Pension strategies
Do you or your spouse have a pension? Find out:
Estate planning and recordkeeping
Consider whether you wish to leave an inheritance for any family members or charities. If so, estate planning becomes especially important. A qualified estate planning attorney can help you:
Things to consider:
Healthcare
Understand the options that may be available to you both before and after you become eligible for Medicare. Consider:
The Health Care Savings Calculator at aarp.org can give you insight into potential medical costs in retirement.
Long-term care insurance
Begin thinking about how you'll cover the potential cost of long-term care—including help with daily life activities—which is generally not covered by Medicare.
Visit longtermcare.gov for more information.
Taxes
Know how your investments are taxed. Work with a qualified financial or tax professional to determine how to manage those taxes, along with state income tax, property tax and sales tax. Don't forget to consider taxes you'll pay on income, like pension and Social Security benefits.
To learn more about federal taxes, visit irs.gov. For state taxes, visit retirementliving.com/taxes-by-state.
Things to do:
Keep in mind that trips or calls to the Social Security and Medicare agencies may take some time, and processing times may also involve long periods.
Visit any of these links to stay up to date on the features of your plan
Browse tools and resources
Please note that by clicking the "Leave this Empower website" button you will be directed to a website that is not owned or operated by Empower. Empower does not endorse this website, its sponsor, or any of the policies, activities, products or services offered on the website or by any advertiser on the site.
Please read the security and privacy policies on the third-party website closely as they may differ from Empower's policies. If you have any questions or concerns about the products and services offered on the third-party website, please contact the third party directly.
Please note that by clicking the "Leave this Empower website" button you will be directed to a website that is not owned or operated by Empower. Empower does not endorse this website, its sponsor, or any of the policies, activities, products or services offered on the website or by any advertiser on the site.
Please read the security and privacy policies on the third-party website closely as they may differ from Empower's policies. If you have any questions or concerns about the products and services offered on the third-party website, please contact the third party directly.
Please note that by clicking the "Leave this Empower website" button you will be directed to a website that is not owned or operated by Empower. Empower does not endorse this website, its sponsor, or any of the policies, activities, products or services offered on the website or by any advertiser on the site.
Please read the security and privacy policies on the third-party website closely as they may differ from Empower's policies. If you have any questions or concerns about the products and services offered on the third-party website, please contact the third party directly.
Please note that by clicking the "Leave this Empower website" button you will be directed to a website that is not owned or operated by Empower. Empower does not endorse this website, its sponsor, or any of the policies, activities, products or services offered on the website or by any advertiser on the site.
Please read the security and privacy policies on the third-party website closely as they may differ from Empower's policies. If you have any questions or concerns about the products and services offered on the third-party website, please contact the third party directly.
The coronavirus is causing a great deal of market volatility, and this can be unsettling for investors. We encourage everyone to stay calm and follow their long-term investing strategies.
Follow this link to read five things to consider about your investments.
Read the articleopens in new windowWatch this short video on the ups and downs of market volatility.
See the videoopens in new windowTo find more helpful account information for retirement savers during the COVID-19 crisis, visit the Market Volatility Communications Center.
Your Plan Retirement Counselors are available to meet one-on-one with you virtually instead of face-to-face, until further notice. You are encouraged to use this resource. You can schedule an appointment and then attend from wherever you are. All you need is a phone and an internet-connected computer to access your private, secure online meeting room. That means you can get custom assistance from anywhere.
To set up a phone or virtual one-on-one consultation, contact your dedicated retirement counselor found here.
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