DOL Launches Online Retirement Tool Kit

The DOL’s Employee Benefits Security Administration developed the tool kit in cooperation with the Social Security Administration and the Centers for Medicare and Medicaid Services to help employees understand important decisions related to employment-based retirement plans, Social Security and Medicare.

“This tool kit will provide workers with essential tools and information,” said Assistant Secretary of Labor for Employee Benefits Security Phyllis C. Borzi. “By working together, our three agencies were able to create a comprehensive source for a diverse collection of resources that will help America’s workers make informed decisions that are vital to their financial security throughout retirement.”

The tool kit includes a timeline that illustrates key decisions that employees need to make about retirement benefits, Social Security and Medicare. It also contains general guidance, as well as a list of publications and interactive tools to assist with planning. These publications and tools cover topics such as preparing for retirement, claiming retirement benefits, retiree health benefits, 401(k) plan fees, estimating retirement benefits, and elder rights and protection. Much of this material is available in both English and Spanish.

“Decisions about retirement are highly personal and depend on a number of circumstances,” said acting Commissioner of Social Security Carolyn W. Colvin. “The retirement tool kit is a valuable source of information for people of all ages—it is never too early to start planning.”