B Retirement Plans

The purpose of this section of Survey One is to obtain information on your knowledge of your retirement plans prior to participating in the retirement planning program.

1. At what age do you expect to retire from <company name>? _________

2. At what age do you expect to start receiving Social Security benefits? ________

3. How much money do you expect to receive each month from Social Security? ________ dollars

4. Do you expect to work for pay after retiring from <company name>?

_______ yes, I plan to work full-time for some time after I retire from <company name> _______ yes, I plan to work part-time for some time after I retire from <company name> _______ no, I do not plan on working after I retire

5. Does <company name> offer any type of phased retirement, flexible work options, or the opportunity to work part-time after you retire?

_______ yes _______ no

_______ don’t know

6. Would you be interested in working part time for <company name> after retirement from your full-time position?

______ yes ______ no

7. After you retire, do you plan to convert some or all of your account balance in your

Savings Incentive Plan into a regular monthly income that will continue for the rest of your life? (i.e. are you planning on buying a life annuity with your retirement savings?)

________ yes

________ no (skip to question 10)

________ have not decided (skip to question 10)

8. If yes, what percentage of the account balance do you plan on converting to regular monthly income (i.e. percentage of your account balance that you are planning on annuitizing)?

________ 0 to 25% ________ 26% to 50% ________ 51% to 75% ________ 76% to 100%

9. If you are planning on annuitizing your Savings Incentive Plan, when would you annuitize these funds?

________ immediately after retiring ________ within two years of retiring ________ within five years of retiring ________ more than five years after retiring

________ when you are comfortable that you will not need the money immediately ________ don’t know

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10. If you are covered by <company name>’s pension plan, how much do you expect to receive from that plan each year (do not include income from your Savings Incentive Plan)?

_______ I am not covered by pension plan other than the Savings Incentive Plan (skip to question 13)

_______ 10% to 25% of your final salary _______ 26% to 50% of your final salary _______ 51% to 75% of your final salary _______ 76% to 100% of your final salary _______ don’t know

11. Can you take a lump sum distribution of some or all of your pension plan (do not include income from your Savings Incentive Plan)?

______ yes

______ no (skip to question 13)

______ don’t know (skip to question 13)

12. If yes, do you plan on taking your entire pension as a lump sum distribution so that you will not receive a monthly benefit from the pension plan?

______ yes ______ no

______ I have not yet decided

13. What do you think your total income from your own Savings Incentive Plan, pension, and Social Security and that of your spouse or partner will be in the first year of retirement? ________ less than 50% of household income the last year I was employed

________ between 50% and 60% of household income the last year I was employed ________ between 61% and 70% of household income the last year I was employed ________ between 71% and 80% of household income the last year I was employed ________ between 81% and 90% of household income the last year I was employed ________ between 91% and 100% of household income the last year I was employed ________ over 100% of household income the last year I was employed

14. Do you think that this amount will allow you to maintain your current standard of living? ________ yes

________ no ________ unsure

15. Does <company name> offer you the opportunity to stay in the company health plan after you retire?

_______ yes _______ no

_______ don’t know

16. How much do you think health insurance will cost you per year in the first year after you retire? __________ dollars

17. If you are married or in a long term partnership, do you think your spouse or partner will retire in:

_________ less than two years from now _________ two to five years from now _________ more than five years from now _________ spouse or partner is already retired

_________ spouse or partner has not worked in the past 10 years _________ N/A do not have a spouse or partner

18. As you plan for retirement, what do you think the chances are that you will live to age 75? _______ 0 to 24 percent

_______ 25 to 49 percent _______ 50 to 74 percent _______ 75 to 99 percent _______ 100 percent

19. As you plan for retirement, what do you think the chances are that you will live to age 85? _______ 0 to 24 percent

_______ 25 to 49 percent _______ 50 to 74 percent _______ 75 to 99 percent _______ 100 percent

20. As you plan for retirement, what do you think the chances that your spouse or partner will survive you? _______ 0 to 24 percent _______ 25 to 49 percent _______ 50 to 74 percent _______ 75 to 99 percent _______ 100 percent

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21. If you have a spouse or partner, what do you think the chances are that either you or your spouse or partner will survive to age 95?

_______ 0 to 24 percent _______ 25 to 49 percent _______ 50 to 74 percent _______ 75 to 99 percent _______ 100 percent

_______ N/A do not have a spouse or partner

22. How would you rate your health generally? ________ poor

________ fair ________ good ________ very good ________ excellent

23. If you have a spouse or partner, how would you rate the health of your spouse or partner generally? ________ poor ________ fair ________ good ________ very good ________ excellent

________ N/A do not have a spouse or partner

24. Indicate your level of agreement with the statement “I am comfortable with the amount of financial planning I have done.”

_______ strongly disagree _______ disagree _______ somewhat disagree _______ somewhat agree _______ agree _______ strongly agree