Tuesday, September 25, 2018

Retirement Readiness

What is retirement readiness?

It is a gauge that determines whether or not a person will have enough money in retirement to enjoy a similar standard of living as in their time working. Research shows that a majority of Americans are not financially prepared for retirement.

The MERS retirement readiness approach utilizes behavioral finance research to assist you in understanding your level of retirement readiness along with providing you actions that can be taken to become more prepared.

 Video: From Snapshot to the Full Picture: Retirement Readiness Overview.

Resources:

 Snapshot Report

If you're enrolled in the MERS Defined Benefit or Hybrid Plan, you'll receive a Snapshot Report via mail annually, typically in the fall. If you're enrolled in the MERS Defined Contribution Plan (including the DC Plus plan), you'll receive a Snapshot Report if your employer has reported annual wages for you. This customized report uses information provided by your employer along with projected Social Security income to show you how well financially prepared you are for retirement.

 Full Picture Report Builder

The Full Picture report builder is available to all participants, regardless of the plans you are enrolled in, by logging in to your myMERS account. You can customize retirement goals, add in spouse information, and include non-MERS retirement accounts to create a "full picture" of your retirement readiness.
MERS CentsAbility Blog

Learn about topics ranging from Budgeting, Debt Management, Emergency Savings, Investments, and Retirement Planning. Click to view CentsAbility blog.

 

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Disclaimer
The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).