The question of having enough money to live in retirement always looms over our heads. Is over-planning equivalent to under-planning? I am not sure if the degree of planning is what is at issue. Rather, it is the act of planning period that should come into play.
The Postal Service, along with LiteBlue, provides many tools to its workforce to begin the process of moving into retirement with confidence. The Postal Service has structured a National Retirement Counseling System (NRCS) that enables all employees eligible for retirement to receive in-depth training on retirement benefits, how they work in retirement and what to expect. NRCS wants every employee to receive all the information necessary to make the best decisions possible to turn the years they have worked into a satisfying retirement future.
The NRCS allows persons eligible for retirement to ask all the questions necessary to assist them in the process of transitioning from work to retirement. Twice a year an annuity estimate is mailed to the homes of those persons currently eligible for retirement. The computer-generated estimate allows postal workers to assess and evaluate their financial picture and to make changes where needed in their plans for retirement.
Most organizations begin to counsel employees within a fews years years of retirement. These employees are able to get annuity estimates that will assist them in the planning process. Organizations tend to concentrate on retirement during this period because the likelihood of things changing significantly in the work profile of these employees is fairly remote. Generally, in calculating an annuity estimate, the high-three average salary is key. Therefore, if you are about to retire in 3 – 5 years, your salary may not change significantly.
Remember these are only your annuity estimates and what your numbers will really look like depend solely on when you submit your application for retirement and the actual process begins.
Start planning early so that when the actual time comes, both you and your spouse will have more than a basic understanding of how your benefits work in retirement.
P. S. Always Remember to Share What You Know.
Other LiteBlue Related Pages
What Postal Employees Should Do On LiteBlue Before Retirement
eRetire for Postal Employees – Retirement Applications on LiteBlue
Use LiteBlue to Manage your FEHB
You can use LiteBlue and PostalEase to manage your Allotments
Requesting Duplicate Postal Employee W-2 Forms Using LiteBlue
