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NYS Comptroller

Thomas P. DiNapoli

Preparing for Retirement

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Part Seven: Choosing Your Retirement Option

Choosing Your Retirement Option

Before You Make Any Decisions:

  • Have you assessed what you and your beneficiary will need for a comfortable retirement?
  • Will you have other forms of income?
    • Life insurance
    • Social Security benefits
    • Savings & investments
  • Are your major expenses paid?

But, before you make any decision, ask yourself a few questions.

Your pension isn’t the only asset that provides for you. Your beneficiary may also be eligible for a post-retirement death benefit. Perhaps your spouse has a pension or you’ll have a part-time job.

Are your mortgage and education loans for your children paid? These are just some of the things to consider before deciding on a payment option.

To find our more about choosing a retirement option, see your retirement plan book.