Stanford Report, February 15, 2006

Employees considering retirement urged to attend workshops

Starting this month, the Benefits Department will hold monthly workshops on retiree benefits, primarily for employees considering retirement in the near future—although anyone can attend. The department is urging employees who plan to retire to attend a presentation no later than two to three months before their expected retirement date.

In addition to general information, a Benefits staff member will review requirements for eligibility, health-care options and how to request distributions from retirement savings—including the Tax Deferred Annuity (TDA) plan, the Stanford Contributory Retirement Plan (SCRP) and the Stanford Retirement Annuity Plan (SRAP).

The workshops are a pilot program to help potential retirees determine what they need to do and when, according to Diane Peck, executive director of human resources.

"We feel employees need access to more education, information and planning tools as they prepare for retirement—whether the retirement is a few months or years away. These workshops are a first step in offering more education and resources to our employees," Peck said. "We also know that a workshop environment is a great learning experience—attendees ask questions that others in the group may not have thought about."

Based on feedback from employees who attend one of the upcoming workshops, benefits staff may expand the sessions to include more detail about retirement plans or other retiree benefits, Peck said. All sessions will be held from 12:30 to 1:30 p.m. in the Amy Blue Conference Room at 651 Serra St. The first three will be on Feb. 24, March 24 and April 28.

The presentations will be pertinent to all faculty and staff at the university and the Stanford Linear Accelerator Center. No reservations are required, and attendees are invited to bring lunch. Dates and times also are listed on the BenefitSU website, under BenefitSU News—events calendar, at http://benefitsu.stanford.edu/.