2018 Aflac Incorporated Benefits Guide

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MANAGING YOUR RETIREMENT
Have you ever wondered: When can I afford to retire?
How much money will I need? or How much will my
Aflac benefits provide?
Congratulations! You’re asking the right questions. To answer
them and positively shape your financial future, you need to
think about how you’ll spend your time in retirement and chart a
plan for reaching your goals. It’s not difficult. Plus, help is readily
available: You have access to some great estimator tools and
expert information online.
RETIREMENT RESOURCES – THE BIG
PICTURE:
For most people, income for retirement comes from just
three sources:
➤➤Personal savings and investments.
➤➤Social Security benefits.
➤➤Employer-sponsored retirement plans (at Aflac,
the pension and/or 401(k) plans).
A CLOSER LOOK:
➤➤Social Security benefit: Income-based taxes paid by you
and your employer throughout your working career fund
your Social Security retirement benefit. Paid as monthly
income, the Social Security benefit usually is significantly
less than your pre-retirement income. Your Social Security
benefit varies depending on your income during your
working career and when you begin receiving payments.
For example, the earlier you begin receiving Social Security,
the lower the monthly payments.
➤➤Pension benefit: If you were hired prior to September 30,
2013, and elected to remain in the pension plan, a formula
based on your pay and years of service with Aflac determines
your pension benefit. The pension plan is a basic supplement
to your other retirement income sources. Like Social Security,
the pension plan’s monthly benefit varies depending on when
you start receiving payments.
➤➤Saving and investing over time: Aflac’s 401(k) plan
and your personal investments offer you the greatest
opportunity to build the financial resources needed to
maintain your pre-retirement lifestyle after your working
days have ended.
THE ANSWERS ARE WITHIN REACH:
You can chart a personal course to retirement security
by taking an hour — or maybe two — to answer these
questions:
➤➤How much money will I need in retirement?
Financial experts generally agree you’ll need 70 to
90 percent of your monthly pre-retirement income to
maintain your lifestyle. But you may need even more
income to cover age-related health care expenses. Keep
in mind your income needs will be driven by your
personal situation and choices.
➤➤How much money will I have in retirement?
There’s an app for that! T. Rowe Price offers an easy,
personalized Retirement Income Calculator at
. To
estimate your retirement income, you’ll need to find out
how much to expect from your current retirement-income
sources.
➤➤Here’s where you’ll find easy-to-use tools:
• Social Security benefit calculator:
.
• Aflac pension calculator:
, or request a mailed
estimate by calling the Milliman Benefit Service Center
at 866-767-1212.
• Aflac 401(k) account balance at T. Rowe Price
.
In addition, you’ll need to enter the estimated or
exact value of any accounts you may have with prior
employers, along with your personal savings and
investment information.
How to Apply for
Aflac Coverage