Retirement Timeline

120 to 90 Days Out 

  • Select 3 Key Dates:
    • Last day on payroll*
    • First day of retirement*
    • Benefits commencement date (BCD)
  • Inform supervisor of key dates…In writing.
  • Submit Pay-in-lieu of vacation form (if applicable).
  • Request Intent-to-Retire Package from Benefits.

60 Days Out (or when Intent-to-Retire Package arrives)

  • Meet with Advisor to discuss and review.
    • Lump Sum Election Form.
    • Qualified Rollover Form.
    • Address Verification Form.
    • Direct Debit Form (Optional).
  • Return at least 31 days prior to BCD to avoid processing delay.

0 Days Out (or within 1-2 days of BCD)

  • Lump Sum check delivered to you by mail.
  • Hand deliver or send to Bogart Wealth via prepaid UPS envelope.
  • Meet with Advisor to discuss:
    • Finalize cash flow strategy.
    • Finalize tax planning strategy.
    • Review investment implementation.
    • Prepare for imminent Savings Plan rollover call.

5 to 10 Days After Retirement.

  • Meet with Advisor to complete Savings Plan rollover call.
    • Phone call to Custodian (Voya).
    • Custodian verifies you are eligible.
      • Retirement date communicated by Benefits.
      • Any QDRO hold has been released.
    • Custodian verifies you have read Special Tax Disclosure.
    • We tell the Custodian:
      • Number of NUA shares to transfer.
      • Disposition of remaining shares.
      • Account number and address for the transfer.
      • Disposition of remaining after-tax amount (if applicable).
  • All fund units and common assets will be converted to cash and “rolled over” in the form of a check.  It will be sent directly to us and made payable for your benefit.
  • All non-NUA shares will be temporarily transferred to Computershare.
  • All NUA shares will be temporarily transferred to Computershare.
  • *Know Year-End Leave Rule

10 to 15 Days After Savings Plan Rollover call.

  • Rollover check received and deposited by Bogart Wealth.
  • Non-NUA shares received by Bogart Wealth (via Computershare).
  • Computershare statement for NUA shares received by you.
    • Email or fax statement to Bogart Wealth.
    • We will initiate the transfer process for you.
    • NUA shares will be received within 2-3 days.

30 Days After Retirement

  • Meet with Advisor to review entire process.
    • Ensure all documents from Voya are correct.
    • Ensure all shares and accounts are setup correctly.
    • Review portfolio management process and expectations.
    • Review cash flow strategy and ensure accounts are linked.
    • Discuss any necessary tax items.
    • Review Financial Plan numbers.
    • Discuss larger items such as Social Security Optimization.