Find Your Path to Retirement
Congratulations! You’re doing the right thing and taking steps to plan for and live in retirement. How confident are you that you’re doing everything you can to be on track to meet your goals? We’re here to help you understand what life stage you might be in. With just a click on a tab below, you can look at the different life stages and see which one best fits you, as well as your level of confidence that you’re on the right track.
With several years until you retire, you’ve been actively investing through your MSRP account. You’re looking to invest more and learn what options might help you reach your goals. You want to stay on track and understand the tools and information that can help you do that.
There are things you can do to help maintain this path, from educating yourself on what you may need when you retire, to considering increasing your contributions, to reviewing your plan on a yearly basis.
You’re investing through MSRP and are planning to retire in the next five years, so you’re probably feeling pretty confident – that’s great! Have you considered all the options you can take advantage of before you hit retirement?
Employees in your mindset are generally thinking about how to transition from investing to spending. We’re here to help you understand options, what changes may take place and how to prepare for retirement – we will be with you every step of the way.
Things you can do now:
- Consider your options – Should you work longer and stay in the plan or take a lump sum, partial sum, annuity payout or rollover?
- Prepare for risk – Use the Learning Center 24/7 for tips, tools and articles on inflation, market risk and living longer in retirement.
- Re-evaluate your investments – Take a look at your investments and adjust your asset allocation as needed.
- Use the Interactive Retirement Planning Tool to see if you are on track to meet your retirement income needs.
Set up a free Personal Retirement Consultation to review your income sources in retirement and start planning your withdrawal strategy. Witdrawals are taxable income to you in the year the payments are made.
Get more tips to feel confident as you’re nearing retirement.
You have years until retirement, but you’re feeling that you may not be doing enough to save for your future. The good news is, you have plenty of time to get started with MSRP and create a plan to handle expenses in retirement. Start saving now, increase your contributions and you’ll set the stage to be confident that you’ve financially prepared for retirement.
We’re here to help with personalized service – our Team MSRP Retirement Specialists will be with you every step of the way.
There are things you can do now, to get you on the right track:
- Evaluate your situation – Take just 10 minutes to see how much to start investing for the future with the Interactive Retirement PlannerSM.
- Enroll if you haven’t – Skim through the Why Should I Participate? section to learn about the potential advantages of participating in the Plan.
- Perform an account review – If you’ve enrolled but feel like you’re ready to invest more, talk with a Team MSRP Retirement Specialist to do an account review. Or use our tools in the Learning Center to get answers on your own, quickly.
- Increase your contributions – now by signing on to your account or calling Customer Service.
If you’re within five years of retirement but haven’t invested regularly or long enough through your MSRP account, you're probably feeling unsure about your retirement years. The good news is that it’s never too late to save or increase your current contributions. You may want to look at your asset allocation or have an annual review to see if your current plan fits your long-term plans.
We’re here to help answer any questions you may have – our Team MSRP Retirement Specialists will be with you every step of the way. Remember, investing involves market risk. The use of asset allocation does not guarantee returns or protect you from potential losses.
Things you can do now, even in the short-term, to help you get on track:
- Evaluate where you are now – Talk with a Team MSRP Retirement Specialist to get an Account Review to see where you really stand – things might be better than you think. We’ve helped thousands of employees transition from working to retirement and we’re here to help.
- Play catch-up – Take advantage of special rules for public employees that may allow you to invest more through your MSRP account in the years leading up to retirement.
- Discover ways to invest more – Once you’re in the Plan, our Learning Center library and Team MSRP Retirement Specialists have lots of tips on how to find more money to invest in your MSRP account. Information provided by Retirement Specialists is for educational purposes only and is not intended as investment advice.
You’ve made it to retirement! But what does this really mean to you? Retirement means different things to different people. Maybe you’ll decide that this is a time to just relax and enjoy family or take a year or two to travel around the world. Or perhaps you are planning to try a new career or business venture.
Regardless of your plans for retirement, you may have questions. You may wonder if you can keep your MSRP account in place now that you aren’t with your employer or what options you have to draw income. We’re here to help you understand how you can manage your income so that you can help it last as long as possible. You can also call a Team MSRP Retirement Specialist to talk about options.
Things to consider may include the following:
- Staying in your plan – You can keep your money in MSRP, continue to have your balance invested with potentially lower costs than you could get elsewhere. There’s no need to take your money out and pay possible taxes, fees and commissions. This may also give you more flexibility in when you can start withdrawals without a penalty than if you roll your money out of the plan.
- Transitioning from saving to spending – Learn more about payout options, timing of distributions and more. Remember, withdrawals are taxable income to you in the year payments are made (except for qualified Roth withdrawals).
- Re-evaluating your investments – Take a look at your investments and adjust your asset allocation as needed to help bridge the gap between your spending needs and what your pension and Social Security offer.