7 podcast episodes to get you ready to retire
One of the biggest challenges of prepping for retirement is understanding all the different pieces — like choosing the right health care, understanding the jargon and getting a clear picture of your finances. Since retirement looks different for everyone, it’s important to take the time to figure out what’ll work best for you.
Luckily, our podcast Fund Your Future with DRS can be a great resource. These short episodes are good introduction to what you’ll need to know before you retire. Even if you’re in the middle of your career, this is a great way to “dip your toe in” and start exploring these topics.
Listen on your favorite podcast platform, or, by following the links below and reading the transcript.
1. First month of retirement; what to avoid
DRS team member John, shares insights about handling the transition period and how to avoid pitfalls. Whether you’re planning to buy a house, plan to travel, or trying to navigate insurance coverage, this episode provides valuable tips to help ensure a smooth transition. Listen now.
2. Understanding separation vs. retirement dates
There’s a big difference between separation date and retirement date, specifically for those retiring with DRS. Understanding these dates will help you determine when you can start collecting your pension benefits. Find out why timing matters, especially if you’re planning around health insurance coverage or have accumulated leave. Listen now.
3. Beneficiary vs. survivor
These two terms are commonly used for retirement plans, but what’s the difference? If you haven’t retired from your plan, you only have beneficiaries. If you are retired, you could have both. In this episode, we look at the difference between these two terms and what they can provide for your loved ones. Listen now.
4. How fewer deductions in retirement can help
Is your pension benefit taxed? The short answer is: yes. However, there are a lot fewer deductions taken out once you retire. In retirement, you’re no longer paying into programs like Medicare and FICA which could result in you seeing more money than you might think. Listen now.
5. How SHIBA helps with Medicare questions
Some of the biggest decisions you’ll make in retirement are around your health care. Luckily, the Statewide Health Insurance Benefits Advisors (SHIBA) offer a free, unbiased service. Our guest Tim explains how SHIBA volunteers help people of all ages and backgrounds with their Medicare questions. Listen now.
6. A PEBB and Medicare overview
As a retired public employee, you’ll have access to insurance options through the Public Employees Benefits Board (PEBB). And when you retire at age 65 or more, you’re required to enroll in Medicare. Find out about Medicare and what options you have for a PEBB retiree health plan. Listen now.
7. Social Security basics
Our special guest Kirk, from the Social Security Administration answers common questions about creating a My Social Security account, its benefits, and how to use online resources for your retirement planning. Find out how to qualify for Social Security retirement benefits and the best age to start receiving benefits. Listen now.
Bonus episode: for Plan 3 members
All about the Plan 3 TAP Annuity
Do you know how much you can spend from your investment account once you retire? Some people choose to purchase an annuity for peace of mind. Plan 3 members have access to a TAP Annuity with a lifetime cost of living adjustment (COLA). Find out more about this and other unique advantages of the TAP Annuity. Listen now.
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