Retirement Action Plan

• Discuss any retirement plans with your manager, including your last day and any vacation or personal days off you intend to take before the end of your employment.
• Your manager must submit your termination transaction in Workday. It’s important that the date that you and your manager discuss together is the date that your manager enters as your termination date. This date must also align with any dates you are providing regarding any Pension estimate or Retirement kit requests.

The best time to contact the AEP Benefits Center is 60 to 90 days before your anticipated retirement date. Discuss your plans for retiring and benefit options with an AEP Retiree Counselor.

Goldman Sachs Ayco Financial Wellness provides confidential financial counseling and retirement planning to AEP employees at no cost. You can also visit the digital platform to learn more.

Discuss any Medical, Dental, Vision, and Life Insurance Plan options and associated costs with an AEP Retiree Counselor. Your active employee coverage ends on the last day of the month in which you end your employment with AEP. Your coverage as an AEP retiree begins the following day, assuming you meet all eligibility requirements.

If you or your spouse are eligible for Medicare at the time of your retirement date, whether due to age or disability, you MUST contact Medicare to enroll into Medicare Parts A & B. If you don’t do this prior to your retirement effective date, your Medical coverage through AEP will be impacted and potentially terminated. If possible, you should contact Medicare at least 60 days before your last day of employment to ensure timely enrollment in Part B.

If you contributed to an HSA or received employer-deposited HSA funds, contact HealthEquity to discuss your options. Refer to the Health Savings Account section for more details.

Consider your Pension payment options and estimate your Pension amount at any time using different retirement dates and assumptions.

Follow these steps to calculate your Pension amounts:

1. Log in to aepbenefits.com.
2. Click on the AEP Pension Plan link, then select View Details and Run Estimates.
3. Go to Estimates and select the date you would like to use for your estimate.

Once you’ve decided on your retirement date and, if applicable, your Pension benefit commencement date, you must request a distribution package. This information will include all of your options under the AEP Retirement Plan based on your last day on the AEP payroll (whether you actually work that day or use vacation) and commencement date that you specify.

Request a distribution kit by following these steps:

1. Log in to aepbenefits.com.
2. Click on the AEP Pension Plan tile.
3. Click Get Started under Benefit Commencement.

Once you select the option that best fits your financial needs, review the instructions about which forms you must complete and what documentation you must submit with your completed paperwork.

Visit aep401k.com or call Empower to learn about your options for your 401(k) Plan account, including distributions, rollovers to IRAs, or repayment of any outstanding loans. Depending on your account balance, you may also choose to leave your Retirement Savings Plan account in place until a later date (though you must begin taking required minimum distributions beginning at age 72).