Consider Your Job Start Date
Employees who work for the government and other employers offering a defined benefit pension should confirm their initial dates of service with the human resources department before scheduling their last days on the job, said Silverberg.
Silverberg advises clients to consider retiring on the date that follows the anniversary of their first day on the job. “This will give you one more full year of service credit toward your pension calculation without working beyond that date without credits,” he said.
Some pension plans also factor in an employee’s age when calculating eligibility for retirement and the monthly benefit amount. So, educate yourself on your company’s specific retirement rules.
