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Retiring from a Washington State school district can feel overwhelming, including forms to submit, when to notify HR, how to pick your retirement date, and how your healthcare and pension will transition. In this episode, we walk you through the 7 essential steps every school district employee must take before retiring.

You’ll learn how to build your written financial plan, when to notify your district to receive potential early-notice incentives, how to request and verify your pension estimate, and how to correctly set your separation date vs. retirement date (including the major impact this has on COLAs and healthcare).

We also explain how PEBB healthcare works before and after age 65, when to apply for Social Security, and what to do with your Plan 3, DCP, or 403(b) savings once you separate from service.

Finally, we answer the Question of the Day: Can someone with service in both PERS and LEOFF retire at age 53 with no penalties? The transcript gives a clear breakdown of how the rules differ between the systems and how early-retirement reductions really work.

Suppose you are planning to retire at the end of the school year or within the next few years. This is one of the most important episodes you’ll watch.

00:00 – Introduction and today’s topic: 7 steps to retire from a school district

01:19 – Step 1: Create your written financial plan (income, expenses, longevity, LTC)

02:43 – Step 2: Notify your district by February; early-notice bonuses up to $1,500

03:07 – Step 3: Request & verify your pension estimate (top-5 years, missing income errors)

04:36 – Step 4: Apply for retirement online or via paper; key dates that affect COLA & healthcare

05:27 – Why most retirees pick June 30 (separation) + July 1 (retirement)

07:02 – Alternative: September 1 start date to keep SEBB longer + earn more service credit

07:39 – Step 5: Set up PEBB healthcare (pre-65 vs. Medicare supplement options)

09:01 – Step 6: When to apply for Social Security (timing, earnings test, avoiding mistakes)

10:30 – Step 7: What to do with your retirement savings (Plan 3, DCP, 403(b), IRA, annuity)

11:41 – Reminder: Taxes and RMDs at 72; planning matters

12:20 – Question of the Day: PERS vs. LEOFF early-retirement rules

14:08 – Why early retirement penalties are often misunderstood (and usually small)

16:29 – Real client stories: retirees leaving 2+ years earlier than expected

18:42 – Free course, community, and how to get help with your retirement plan

Links:

1. ⁠⁠Free Washington Retirement Planning Community⁠⁠

2. ⁠Plan 3 Investment Advice⁠

3. ⁠Schedule Meeting⁠

4. More free resources at ⁠WATRSPERS.com⁠