Turning Retirement Savings into a Lifetime Income Stream

As retirement approaches, ensuring a steady income becomes increasingly important. Corebridge Financial’s article, “Turn Your Retirement Savings into a Lifetime Income Stream”, explores how individuals can convert their accumulated retirement savings into dependable income that lasts throughout retirement.

Key Takeaways:

• Lifetime Income Options: The article outlines strategies to transform savings into a reliable income stream, focusing on how to maintain financial security after you stop working.

• Annuities as a Solution: Annuities can offer guaranteed income for life, helping to alleviate the risk of outliving your savings.

• Customized Planning: There are a variety of annuity options to suit different needs, so it’s important to explore what works best for your specific goals.

The Role of Health and Longevity in Retirement Planning

Recent insights from the TIAA Institute highlight the increasing importance of incorporating health status and longevity expectations into financial planning. Understanding your potential lifespan and health trajectory can help refine the advice you receive and improve your retirement income strategy. Personalized guidance that considers these factors may lead to better long-term financial outcomes.

Retirement Options at Missouri State

Missouri State University supports retirement readiness with 403(b) and 457(b) voluntary retirement savings plans, available to both full- and part-time employees. These plans allow you to invest extra for your future—complementing the university’s core retirement plans:

• MOSERS (Missouri State Employees’ Retirement System)provides a pension benefit offering stable, predictable income in retirement, which helps protect against market fluctuations.

• CURP (College and University Retirement Plan) is an individual retirement plan primarily for faculty, with eligibility to transfer to MOSERS after six years of service.

Together, these options can help build a stronger financial foundation for your retirement. Consider speaking with a financial advisor to ensure you’re on the right track.

🎓 Join a Webinar & Boost Your Financial IQ!

Whether you’re early in your career or nearing retirement, these educational sessions can help build your financial confidence.

🧰 MO Deferred Comp–Hosted Webinars

👥 For All Employees

• Pocket Change – Learn about budgeting, state benefits, and your retirement paycheck.
• What is Market Volatility? – Understand inflation, market trends, and long-term investing.
• Completing the Retirement Paycheck Puzzle – See how pension, savings, and Social Security fit together.
• ‘How to’ Manage Your Account – Navigate your account, update contributions, and more.

🌱 For Early to Mid-Career Employees

• The Essentials – Intro to deferred comp, investing basics, and calculators.
• The Essentials 2.0 – Dive deeper into investing strategies and risks.
• 457 Plan Roth Contributions – Explore the benefits of Roth and if it’s right for you.

🕰️ For Late Career and Retired Employees

• I’m Retiring – Learn about RMDs, withdrawals, rollovers, and more.
• Spend-Down Strategies – Strategies for making your money last in retirement.
• Retiree Financial Basics – Explore withdrawal options, annuities, and advisor support.

Find a Date

🌟 Upcoming June Webinars from Corebridge Financial

Reserve your spot for these national financial literacy events:

• June 12 at 1 PM CT – Up, Down & Across: Family Longevity Planning Conversations
  Learn how to discuss healthcare, estate planning, financial goals, and legacy with your loved ones.
• June 17 at 12 PM CT – Making Your Cash Work Harder
  Explore cash reserve strategies, debt management, and investment vehicles to support your retirement goals.
• June 25 at 1 PM CT – Planning Your Financial Future: An Educational Workshop for Women
  Gain tools to build wealth, make informed financial decisions, and navigate challenges specific to women.

Reserve Your Spot Here

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