Can my service credit record be wrong?

Yes. Payroll system migrations, part-time periods, leaves of absence, and prior public employment are common sources of service credit errors. Employees who never verify their record may retire with fewer credited years than they actually earned. Always request an official record before retirement.

What is a pension death benefit?

Most public pension plans provide a death benefit for active employees who die before retirement — typically a refund of contributions plus interest, or a lump sum multiple of salary. Some plans also provide survivor annuities. The beneficiary designation (not your will) controls who receives this benefit.

What is the Windfall Elimination Provision and should I check for it?

WEP reduces Social Security benefits for people receiving pensions from non-Social Security-covered employment. If your government job is not covered by Social Security, your Social Security benefit from any private-sector work may be reduced by up to $587/month (2025). Check your estimate at ssa.gov/myaccount.

Should I check whether I have retiree healthcare coverage?

Absolutely — and do it at least 5 years before retirement. Many government employers provide retiree healthcare, but eligibility rules (years of service, age requirements) vary. If you don’t qualify or coverage ends at 65, you need a plan to cover healthcare costs from retirement to Medicare eligibility.

Pension Checklist: 10 Things Every Government Employee Must Verify

Q: How often should I review my pension?

A full checklist once per year (November is ideal, before open enrollment). Additionally, review within 60 days of any major life event: marriage, divorce, birth of a child, job change within the same pension system, or death of a named beneficiary.

Pensions are often 'set it and forget it' — but that passivity causes expensive errors. An outdated beneficiary, an unrecognized vesting milestone, or an unchecked funded ratio can permanently damage your retirement. This 10-item checklist, done once per year, catches the most costly pension oversights before they become irreversible.

The Annual Pension Checklist

💡Best Time to Run This Checklist

November or December — before open enrollment closes and while retirement planning is top of mind. Also run within 60 days of any major life event: marriage, divorce, birth of a child, death of a beneficiary, or job change.

1. Verify Your Years of Service Record

Request your official service credit record from your pension plan administrator. Confirm that all eligible periods of service — including past part-time work, leaves of absence (some qualify), and prior public employment — are accurately recorded. Service credit errors are more common than most employees realize and can cost $100–$300+/month in pension income at retirement.

2. Update Beneficiary Designations

Your pension death benefit (usually a refund of contributions or a survivor annuity) follows your beneficiary designation — not your will. A county clerk in Phoenix who divorced and remarried but never updated her pension beneficiary leaves her death benefit to her ex-spouse. Log in to your plan provider’s portal and verify both primary and contingent beneficiaries are current.

3. Request an Official Benefit Projection

Request an official benefit projection from your plan at your target retirement ages (55, 60, 62, 65). Plans calculate these using your actual service records and salary history — far more accurate than any external calculator. Get projections in writing annually starting at age 50, and 5 years before target retirement.

4. Check Your Plan’s Funded Ratio

Review your plan’s most recent Comprehensive Annual Financial Report (CAFR) to check the funded ratio. A ratio below 80% warrants monitoring; below 60% suggests you should increase supplemental savings as a hedge against potential benefit changes.

Full 10-Item Checklist

Annual pension checklist: 10 items, approximately 45 minutes total

Item	Check Location	Time	Stakes If Missed
1. Service credit accuracy	Plan administrator records	10 min	Reduced monthly benefit for life
2. Beneficiary designation	Plan provider portal	5 min	Wrong person receives death benefit
3. Official benefit projection	Plan website or administrator	10 min	Planning based on wrong numbers
4. Plan funded ratio	CAFR report online	5 min	Surprised by benefit reductions
5. Vesting status/date	HR or plan statement	3 min	Leave before vest = forfeiture
6. Supplemental savings rate	457b/403b portal	5 min	Under-saved for income gaps
7. Rule of 80 / key threshold	Plan document or HR	5 min	Miss optimal retirement date
8. Any pension loan outstanding	Account statement	2 min	Taxable event if unresolved at separation
9. Social Security estimates	ssa.gov/myaccount	5 min	WEP surprise reduces Social Security
10. Healthcare plan at retirement	HR benefits office	5 min	No coverage between retirement and Medicare 65

Run Your Benefit Projection After the Checklist

Once you’ve verified your service record and key plan details, project your exact monthly benefit at your target retirement ages.

Open Pension vs. Lump Sum Calculator →

Pension Checklist: 10 Things Every Government Employee Must Verify

The Annual Pension Checklist

1. Verify Your Years of Service Record

2. Update Beneficiary Designations

3. Request an Official Benefit Projection

4. Check Your Plan’s Funded Ratio

Full 10-Item Checklist

Frequently Asked Questions

Frequently Asked Questions

More Pension vs. Lump Sum Guides

How to Use a Pension Calculator: Complete Beginner Guide

Good Pension Benefit Benchmarks by Age and Career Length

What Your Pension Will Pay on a $50,000 Salary