It is never too early to start planning for retirement. Decisions you make today may determine how financially comfortable you will be in retirement. Your MSRS and Social Security benefits, in most cases, will not be enough to fully fund your retirement plans. You may need to supplement your income from personal savings through a deferred compensation plan, IRA's or some other savings plan.

Start your retirement planning by reviewing the annual benefit statements sent to you by MSRS and the Social Security Administration. A retirement planning seminar is another good resource to help you prepare for retirement.

• MSRS offers retirement planning seminars explaining the retirement plans administered by MSRS, the Minnesota Deferred Compensation Plan and the Health Care Savings Plan
• Individual counseling sessions regarding MSRS benefits are available in our St Paul or greater Minnesota offices as well as during scheduled onsite workplace visits
• Minnesota Management and Budget (MMB) offers retirement planning programs for state employees
• The University of Minnesota and many other employers offer seminars and assistance for their employees

Just as important as making sure you are financially secure in retirement, is to make sure you are emotionally ready to retire. What hobbies do you have, where do you plan to live after retirement, and many other factors need to be considered before you make this important decision.