Culture: Pension and Retirement Readiness Program Essay

Submitted By NicoleJ2
Words: 2420
Pages: 10

Let’s discuss your Pension and Retirement Plan benefits available to you when you retire.



Key topics: • • • • Brief summary of Plan Provisions Decisions/Elections you need to make The retirement process Additional Merrill Lynch Wealth Management resources available to you


NOTE: DO NOT USE THIS SLIDE IF THIS PRESENTATION IS NOT THE FIRST SEMINAR BEING PRESENTED ON THIS PRESENTATION DATE TO THIS AUDIENCE. THIS SLIDE SHOULD BE COVERED ONCE PER SESSION IN THE FIRST SEMINAR BEING PRESENTED TO AN AUDIENCE. DuPont introduced the Retirement Readiness Program to help you prepare for your retirement. You can take advantage of several resources offered by Merrill Lynch including seminars on Benefits OnLine, web materials on Benefits OnLine, and access to Merrill Lynch Retirement Education Specialists. As you probably know Retirement Readiness Program services (like these seminars) are offered to employees that are nearing retirement. If this audience is anything like other audiences I’ve worked with, at least some of you would say you’re just not sure when you should retire and aren’t sure what information you need to make an informed decision. That’s where this chart comes in – while not entirely linear, the road to retirement begins with obtaining broad information about topics impacting your retirement decisions. Seminars, like today’s session are intended to do just that. They may not exactly address your individual circumstances, but they should get you thinking. Hopefully they’ll generate some questions. Maybe when you get home or back to your computer, you’ll log on to Benefits OnLine to find out more about a specific topic or learn where you can go to obtain your pension projection statement or Social Security benefits statement. From there, you’ll connect with the appropriate resources to help you evaluate your benefits and better understand the decisions that should be made prior to retirement. And you will be better prepared to assess whether your expectations for retirement are attainable now, or could be at some point in the future. Maybe you’ll decide that you need help sorting through all the information or want help creating a plan to help you get closer to a specific retirement date. If you’re ready to take it a step further, you can schedule a complimentary meeting with a Merrill Lynch Financial Advisor. Please note that once you engage a Merrill Lynch Financial Advisor, you are creating an individual relationship with that FA outside of the DuPont Retirement Readiness program. The Retirement Readiness Program is designed and offered to help you make all those connection points --- from the high level discussion of your benefits to the specific things that you should learn, consider and do to launch your retirement. So the journey begins today – we’ll do our best to make it interactive and interesting so you leave here more informed and better prepared to plan your trip.


Let’s start with a summary of key points about Pension Plan benefits. • Your pension is designed to provide benefits for your lifetime and is determined by a formula. • Based on your elections and eligibility, the Plan may continue payments to your named beneficiary(ies) after your death.

We’ll take a closer look at each of these points during this seminar.


You are eligible for an unreduced pension if you are age 65 and have at least 15 years of eligible DuPont service. (Eligible if last hired or rehired before January 1, 2007). Between age 58 and 65, if your years of eligible DuPont service plus your age equal at least 85, you are eligible to receive 100% of your pension. If you are a Full-Service Employee and at least age 50 with at least 15 years of eligible DuPont service, you are eligible to receive a reduced pension. However, reductions can be substantial. You are eligible for a pension payable at age 65 or perhaps earlier. If you are a Full-Service Employee with at least 5 years of eligible…