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Are You Prepared?

Are You Prepared?. Who is in charge?. PREPARE PROGRAM. Overview. PREP ARE pare. Pre-retirement employees’ planning Assisting retired employees. Components. PREPARE FOR TOMORROW PREPARING MAKES $ENSE. Process. PLANNING DECISION-MAKING. Prepare for Tomorrow.

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Are You Prepared?

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  1. Are You Prepared?

  2. Who is in charge?

  3. PREPARE PROGRAM • Overview

  4. PREPAREpare • Pre-retirement employees’ planning • Assisting retired employees

  5. Components • PREPARE FOR TOMORROW • PREPARING MAKES $ENSE

  6. Process • PLANNING • DECISION-MAKING

  7. Prepare for Tomorrow

  8. Importance of Retirement Planning • No mandatory retirement age • Many options in retirement benefits • Changes in Social Security and Medicare • Increasing longevity • Inflation • Self-worth after retirement

  9. Objectives • Awareness • Information • Action

  10. Prepare for TomorrowTopics • Planning for Retirement • Income in Retirement (Pension Benefits) • Retirement Income Gap Determination • Personal Savings for Retirement (Tax Deferred Programs) • Financial Planning • Legal and Estate Planning • Health Insurance

  11. Prepare for TomorrowTopics • Health Insurance • Wellness • Housing • Transition to Retirement • Meaningful Use of Time • Summary and Challenge: Action Plan

  12. Preparing Makes $ense

  13. Preparing Makes $enseTopics • State Employee Benefits • Insurance Options • Estate Planning • Tax-Deferred Programs • Home Buying • Debt Reduction • Children’s Education

  14. Preparing Makes $enseTopics • Investments • Wellness • Social Support Systems • Personal Competencies

  15. Format • Small Group Discussion (25 or less) • Self-Directed Learning

  16. Program Dissemination • Major Co-Sponsors/Coordinating Agencies • Office of State Personnel/PREPARE Program Coordinator • Agency Personnel Offices • PREPARE Leaders • Resource Experts

  17. Coordinating Agencies • Community College System • Office of State Personnel • State Division of Aging • State Employees’ Credit Union • Teachers’ and State Employees’ Retirement System • North Carolina Bar Association

  18. Coordinating Agencies • State Health Plan • North Carolina Association of Life Underwriters • Seniors’ Health Insurance Information Program, Department of Insurance

  19. Resource Experts(Approximately 800) • Retirement Counselors • Social Security Representatives • Representatives for Personal Retirement Plans (401k and Deferred Compensation, 403b) • Banking Services (SECU representative) • Financial Planners

  20. Resource Experts • Legal and Estate Attorneys • Health Insurance Representatives • Wellness Experts • Aging Specialists • Panel of Retirees (Prepare for Tomorrow)

  21. What Happen ? • Budget Cuts • State Employees’ Credit Union Continued Modified Program • On-line Benefits and Life Planning Program • Retirement System Modified Program • Other??

  22. What’s Next? • “A goal without a plan is only a dream.”

  23. Question/AnswerSession

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