A successful retirement takes research, planning, and lots of 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 you face important deadlines. 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 Firefighters HealthCare Trust (SFFCHT SIMON365)

While you’ll deal with several agencies as you plan your 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 done so), and explore their helpful educational resources.

Department of Retirement Systems (DRS) Recommendations

• Sign up to access your Washington State Department of Retirement Systems (DRS) retirement account at www.drs.wa.gov. With an online account, you can review all of your retirement accounts administered by DRS. You can use the Online Benefit Estimator to estimate your future monthly benefit. And you can use your online account to 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 to learn more.
• 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, which include videos and live webinars.