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Retirement Timeline

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    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.

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