Staying in your retirement plan when you retire

Staying enrolled in your retirement plan after you retire can provide important advantages. You’ll get the same free support and lower fees you had before. You’ll also allow your money to potentially keep growing – and still have access to it when you need it.

Here’s what you should know:

  • Your account will stay open after your retirement date unless you withdraw all of your funds
  • You’ll still be able to manage your investments, withdraw funds and get help from knowledgeable professionals
  • You’ll no longer be able to make payroll contributions but you may be able to roll-in eligible funds

Tips for managing your account after you retire:

  • Continue to review your account at least once a year; that way, you can make sure your asset allocation (how your portfolio is divided among assets like stocks, bonds and cash) still lines up with your goals
  • If you’re invested in a Target Date Fund (TDF), consider what the asset allocation will be during your retirement and whether it will rebalance beyond the target date; if your TDF won’t match your goals after retirement, consider other options in your plan
  • Use My Interactive Retirement PlannerSM to create a withdrawal strategy to help you get the most from your retirement savings; it can help you establish how much and how often to withdraw money to get the greatest benefit
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To learn more about staying in your retirement plan and managing your account beyond retirement, contact a Retirement Specialist today.

Target Maturity Funds are designed to provide diversification and asset allocation across several types of investments and asset classes, primarily by investing in underlying funds. Therefore, in addition to the expenses of the Target Maturity Funds, an investor is indirectly paying a proportionate share of the applicable fees and expenses of the underlying funds.

Target Maturity Funds are designed for people who plan to withdrawal funds during or near a specific year. These funds use a strategy that reallocates equity exposure to a higher percentage of fixed investments over time. Like other funds, target date funds are subject to market risk and loss. Loss of principal can occur at any time, including before, at or after the target date. There is no guarantee that target date funds will provide enough income for retirement.