A successful retirement requires research, planning, and extensive discussion with family members, financial and health advisors, and close friends. Start learning about your retirement benefits and options early so you can make informed decisions when important deadlines arise. Now is the time to ask questions, explore alternatives, and take the time you need to think things through for yourself.

At least a year before your planned retirement date, visit the following sites for updated retirement information from these key agencies and providers:

• Washington State Department of Retirement Systems (DRS) (additional information below)
• City of Seattle Voluntary Deferred Compensation Plan
• LEOFF Plan 2
• Social Security
• Medicare
• Seattle Fire Fighters HealthCare Trust SIMON portal

While you’ll work with several agencies as you plan for retirement and eventually retire, one of the most important is the Washington State Department of Retirement Systems (DRS). Once you’ve decided on your retirement date, familiarize yourself with the DRS website, sign up for access to your online account (if you haven’t already), and explore their helpful educational resources.

Department of Retirement Systems (DRS) Recommendations

• Sign up online at www.drs.wa.gov to access your Washington State Department of Retirement Systems (DRS) retirement account. With an online account, you can review all your DRS-managed retirement accounts. You can use the Online Benefit Estimator to estimate your future monthly benefit and verify the accuracy of your service credit.
• Review your plan guide for retirement eligibility rules.
• Explore “catch-up” savings options. Find out which annuity and service-credit purchase options are available to you. Or contact the DRS for more information.
• Explore distribution options for your retirement savings accounts to maximize tax benefits.
• Plan for your health care coverage during retirement, life insurance, and/or long-term care insurance. Learn which options are available to you.
• Visit the DRS site for free retirement planning resources, including videos and live webinars.