Need retirement info.

[locolobo]

I will be retiring @ the end of the year after 46 yrs with a 100+ yr old global corporation. Getting any info from them about my upcoming retirement is like pulling hens teeth. H. R. will only tell me to wait until 90 days before my retirement (d&*^ I like saying that word) date, Call them and let them know my date and they will send me a package to fill out and return.
They will not talk to me about insurance, which due to a RHCAP account has to be purchased through them through one of their suppliers. And even the ins. companies tell me to wait on the package. I hate waiting on this stuff. I want to have my duck in a row long before I sign the papers.
I will be trying to get with the Social security office here real soon to see about that and Medicare. And then get with Fidelity to talk about my 401K.

Anybody out there have any advice for me to start with?

[katyhighpockets]

I work for chevron and it’s about the same way. 90 days out u can request ur package which has all the details

[SabineHunter]

I will be retiring @ the end of the year after 46 yrs with a 100+ yr old global corporation. Getting any info from them about my upcoming retirement is like pulling hens teeth. H. R. will only tell me to wait until 90 days before my retirement (d&*^ I like saying that word) date, Call them and let them know my date and they will send me a package to fill out and return.
They will not talk to me about insurance, which due to a RHCAP account has to be purchased through them through one of their suppliers. And even the ins. companies tell me to wait on the package. I hate waiting on this stuff. I want to have my duck in a row long before I sign the papers.
I will be trying to get with the Social security office here real soon to see about that and Medicare. And then get with Fidelity to talk about my 401K.

Anybody out there have any advice for me to start with?

Good for you, enjoy your retirement, I retire June 10, 2021, unless they pizz me off too much. Your HR sucks by not giving you what you need, must be Dow or BASF. By what you said, sounds like you have your ducks in a row.

[Russ79]

I have two years and four months until i receive my "FU" card. Can't wait.

[Atfulldraw]

how can you figure out the date without the details?

Thank you for reminding me that my boss is a complete jackass, but I would much rather deal with him than work for a giant corporation.

[one66stang]

No recent retired co-workers you could reach out to?


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[Pedernal]

No recent retired co-workers you could reach out to?


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^^^This^^^

Set up an appointment with SSA and Fidelety to get all your stuff lined out with them. A couple of months will go quickly and you will have the info you desire from your company. It sucks that they will not get your more info now but once you do get the package knowing your benefits from SSA and your 401K will make it simpler to decide on any choices in the package.

Big congrats and enjoy your retirement Sir.

[AntlerCollector]

Fidelity should be able to give you the info you need from them now.

[Hogmauler]

I contacted Alex Roland with Boomer Benefits and she walked be through all my Medicare stuff. She has stayed in contact with me as well. My Medicare actually kicked in yesterday.

[Wil Taylor]

My wife is a Financial advisor for Edward Jones. Don’t know if she can help or not but she knows what she is doing. If interested pm me and I can forward her info

[60 Deluxe]

Go online and sign up for a mysocialsecurity.gov account. It seems to me that I was looking at numbers long before it came time to pull the trigger. As far as your company pension, it really isn't the company that you will be dealing with. You may go through human resources to get the ball rolling but once that is done you will be dealing with an insurance or investment company that manages the pension benefit plan for your employer. I would imagine that is the reason why they make you wait until ninety days out from the eligibility date. I always received an annual statement that gave me an estimated benefit of what my monthly income would be if I continued to work until my normal retirement age. It was pretty close but not exact because the amount changes depending on the choice that you make for the payout. Going from memory, the choice was Lifetime Certain for me, Lifetime Certain for my wife, and one other that I can't remember, maybe a payout for twenty years or something like that. My wife is twelve years younger than me so they calculated how long they would be paying a benefit based on her life expectancy, which was the option that I selected. Say $500,000 in benefits divided by my life expectancy of twenty years for my life vs her life expectancy of thirty two years. As you can see, my benefit was really hammered because I chose a payout based on her life expectancy. It is not hard to figure the dollars once you know the rules and how much your base benefit will be. I had my social security check calculated to within fifteen cents of what the SSA determined it would be. Upon reviewing my calculations, I had transposed a number for one of my base years of income. Had I entered it correctly, my number and their number would have matched.

[tps7742]

60 deluxe is spot on. In my case Fidelity that manages the retirement for the company I worked for once I get within 30 days of retirement they assigned me an agent. This agent assisted me on walking through the retirement process and benefits. As mentioned above for my spouse or in some cases designated dependent you wil figure their beneficiary benefits after you pass. This includes pension (50% or 100%) 100% in my case, life insurance or health insuarance costs etc.
Congrats on retirement, 46 years with the same company you should be set up nicely.

[drbonner]

They don't have an employee HR website with all that info?

[cva34]

Check into supplemental health ins. to go with medicare.. Best of Luck and ENJOY

[Mudslinger]

Wife retired in Jan. and I retired May 22. I will tell you one thing, retiring is a PIA! Things you have to do or get fined is ridiculous, such as Medicare Part A and B. Then there is the supplemental insurance. Dealing with SS is like dealing with 2 year olds!

Good luck on your upcoming retirement.