Late Career

Even though you may have been working for a while, you may not be ready to retire, and that’s okay. But, because one of the biggest decisions you’ll make in your lifetime is when to retire, it’s never too early to plan and prepare. Whether you are five years, or one year, away from retirement, you should take these six steps now.

Six Steps to Take as a Late Career Member

Even though you may have been working for a while, you may not be ready to retire, and that’s okay. But, because one of the biggest decisions you’ll make in your lifetime is when to retire, it’s never too early to plan and prepare. Whether you are five years, or one year, away from retirement, you should take these six steps now.

 

Step 1 – Attend a RetireStrong Program Seminar

Attend a DERP Plan and Prepare Seminar to get an overview of your retirement benefits, the retirement process, and important timing steps.

Login to your MyDERP.org account, click the Seminars button, and sign up for a seminar.

Step 2 – Review Your Annual Member Statement

The Annual Member Statement is a valuable tool that you can use to help set your retirement goal. The statement reflects information such as your retirement eligibility, estimated monthly lifetime DERP Pension Benefit, and your primary beneficiary.

Login to your MyDERP.org account and click the Member Statement hyperlink.

Step 3 – Meet with a DERP Membership Services Representative

Setup a counseling session with a membership services representative so you can ask questions, discuss health insurance options, review timelines, go over your paperwork, and more.

Login to your MyDERP.org acount, click the Counseling Appointments button to request an in person, phone, or video one-on-one counseling session.

Step 4 – Understand Your Benefit Options

From survivor benefits and lump-sum death payment options and more, you’ll have key decisions to make that will impact your DERP Pension Benefit payment to you and your beneficiary, for life.

Visit the DERP Plus Benefits section to discover the benefits that support a strong, healthy, and protected future.

 

Step 5 – Do the Math

Calculate a pension benefit estimate so you can start to formulate a retirement budget and adjust your contributions to personal savings and investments if needed.

  • Estimate your DERP Pension Benefit amount in your MyDERP.org account. Your estimate is based on your membership tier, your data, and provisions that are in place at that time. You can review your estimated benefit with and without deductions.

    Login to your MyDERP.org account and click the Benefit Estimate button. If you want a precise calculation email Help@DERP.org.

  • Consider purchasing service credits.
    Purchasing service credits will help increase your DERP Pension Benefit by increasing the amount of service used in the calculation of your retirement benefit. The benefit calculation is based on your membership tier and years and months of service.

    Visit Supplementing Your DERP Pension Benefit to learn more.


    Login to your MyDERP.org account and click the Service Purchase button to get an estimated cost.

Visit DERP’s Publications page and click on Your Guide to Service Credit Purchase.

Step 6 – Review the Retirement Checklist

Even if you’re not thinking about retirement right now, it’s never too early to learn about the steps you’ll need to take, the documents you’ll need to submit, and the key decisions you’ll have to make.

Visit Ready to Retire to learn more.

Resources

Publications

  • Visit DERP’s Publications page and click on Denver Employees Retirement Plan Section of the Denver Revised Municipal Code.
  • Visit DERP’s Publications page and click on Supporting Your Retirement Journey.
  • Visit DERP’s Publications page and click on Your Guide to Service Credit Purchase.

Partner Resources

  • Visit the city’s Summit Savings website to learn more about the Summit Savings Deferred Compensation Plan.
  • Visit the city’s Denver Wellness website to learn more and take advantage of health and financial literacy programs.