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Commencing your benefit

Feel like retirement is just around the corner? Congratulations! You’re closer than ever to this major milestone. Making the decision to retire is a deeply personal one—as is deciding how and when to commence your pension benefit. There are a number of factors you’ll want to take into consideration, plus you’ll want to allot enough time to complete all the required steps. Here you’ll find tips to be prepared for when the day comes, from starting the process to receiving your first pension benefit payment. You can also visit NetBenefits anytime for more detailed information or to get support from Fidelity.

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What you need to know:

  • Plan ahead if you’re getting close to retirement. It can take up to six months from starting the process to receiving your pension benefit. 
     
  • Make sure to review your payment options and prepare the right documentation before you start the process to receive your pension benefit online or by phone.
     
  • Understand how your pension benefit payment choice could be impacted by outside factors, such as marital status, taxes and interest rates.
     
  • Start the process to receive your pension benefit online at netbenefits.com or call the Fidelity Service Center.

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Commencing your pension

Get a step-by-step overview of the commencement process so you can take the guesswork out of receiving your benefit.

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How an annuity works

Learn about common annuity options to see which one might work best for you.

 

*Subject to eligibility requirements. For detailed provisions, refer to the individual Summary Plan Description for your plan(s).

Consider next steps

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Take the first step

Ready to start the process? Log into your account at NetBenefits and, under “Your accounts and benefits,” click on your pension plan name. From there, you can model your pension benefit and, when ready, start the Commencement process online.

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Get 1:1 help with your personal situation

Schedule a 1:1 consultation to talk privately and confidentially with a Fidelity representative about your personal situation. Spouses and financial advisors are welcome to join these meetings.

Schedule a 1:1 🡢
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This website summarizes certain key details of the [CLIENT] pension plan. All benefits described on this website are subject to the terms of the governing plan documents. If there is ever a conflict or any difference between this website and the actual plan documents, the plan documents will govern.
Your pension plan will be interpreted, calculated, and administered in accordance with the terms of the official plan documents and in the event of any inconsistency, omission, or conflict, the terms of the official documents will always govern.
Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
Fidelity retail products and services are offered separately from your employer-sponsored retirement plan.
For more information, please refer to the Summary Plan Description for your pension plan.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
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