Active Members

Mid-Career

By now you’ve been a member of DERP for some time. And like your career, your path towards retirement has probably evolved since you first became a DERP member. Perhaps you’ve purchased a home. Maybe you’ve started a family. And, maybe you’re starting to think about when you can retire and what you need to do to prepare. Whether you are familiar with your DERP Pension Benefit or not, now is the time to find out what you need to do to prepare for your retirement.

Six Steps to Take as a Mid-Career Member

Mid-career is the time to sharpen your retirement focus and strengthen your retirement savings, report important life events, and become familiar with your DERP Pension Benefit. Take these six steps now to make sure your retirement future is strong.

Step 1 – Strengthen Your Savings

Increase contributions to your Summit Savings Deferred Compensation Plan. The DERP Pension Benefit is designed to complement Social Security, and your personal savings and investments, providing additional financial and retirement planning options.

Visit the city’s Summit Savings website to learn more about the Summit Savings Deferred Compensation Plan.

Step 2 – Look at 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 – Review Your Beneficiaries

Look at your beneficiaries in your MyDERP.org account to ensure they are current, especially if you’ve experienced a major life event.

Login to your MyDERP.org account and click the Beneficiary button.

Step 4 – Get Familiar with Your Benefits

Attend a DERP Sharpen Your Focus Seminar to understand the range of DERP benefits available to you, including survivor benefits and disability.

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

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 – Talk to a DERP Membership Services Representative

A DERP membership services representative will help you understand your retirement plan options, review paperwork, calculate your benefit, and more!

Login to your MyDERP.org account and click the Counseling Appointments button to schedule an in-person, phone, or virtual counseling session.

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.