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It’s important to plan for your retirement long before you are ready to retire. The sooner you begin your retirement planning, the more likely you are to have the money you need to retire comfortably at an earlier age. Even if you’re nearing retirement age, however, you can still plan your retirement appropriately. Your Dallas Social Security attorney can help you if you’re not sure what to do.
Find Out What Your Benefits Are
It’s important to find out exactly how much money you are entitled to before you retire. Once you resign from your position, you may not be able to easily get it back. So you need to find out what assets you’ll have and whether those assets are enough to live on before you retire.
Start by contacting your human resources department if you have one. Ask the department for a retirement estimate you can use for planning purposes. This estimate contains all of your past service and how much you are entitled to.
Check your retirement estimate against your records to ensure that all of your service has been recorded. If you find any discrepancies, take the following steps:
- ·Contact human resources and tell them about the discrepancy.
- ·Provide your records, especially records that include dates of service that have not been included in your retirement estimate.
- ·Follow up with the specialist who prepared the original report to find out if he or she has located the missing records.
What To Do If You Don’t Have a Local Human Resources Contact
If you work in an area where there are o local human resources, getting your estimate may be a little more difficult. You may need to contact your social security attorney Dallas. There are a few things you can do on your own to estimate your benefits.
- ·Go through your records. List each year of federal service and the salary you drew.
- ·Average the three highest yearly salaries you received.
- ·Look up this average on a federal retirement benefit table. Your estimated benefits will be based on your years of service and the average of your three highest salaries.
Understand Different Benefits
In addition to your retirement pension, you may be entitled to other benefits such as life insurance benefits. Check the retirement tables for an estimate of these benefits; however, you may need to provide documentation to receive certain benefits. Your Dallas social security attorney can explain to you what you need to do to claim military benefits, life insurance and other benefits you may be entitled to.