b'BUSINESS MANAGEMENTContinued from page 39 What should they do about health insurance until they are eligible for Medicare at age 65? How can they leverage in retirement what theyve accumulated in a health savings account (HSA)?More employers are focusing communication aroundintegratingHSAswithlong-term retirementsavings,saidSteveVernon,a research scholar with the Stanford Institute on Longevity in Palo Alto, Calif. There is the potential to use HSAs to fill in gaps incanshowemployeesthefinancialeffectof retirement planning.receiving payments starting at age 62 instead Retiree health care costs should also factor intoof waiting until full retirement age or until age discussions with younger employees, who may70 to receive maximum benefits. This is also choose to use some HSA funds for immediatethe time for employees to explore the pros and health care costs and save others for use incons of using their plan assets to purchase an retirement. annuity for retirement income to supplement Move From Retirement Saving to RetirementSocial Security benefits.Income Finally, theres the role of work during retirement Retirement planning should support employeestoconsider:Employersthatofferpart-time as they face decisions such as: work for older workers can provide information onpotentialopportunitiesduringretirementWhen to start claiming Social Security benefits. planning. How inflation and longevity affect retirement security. About SHRM Whether they want or need to work part timeSHRM,theSocietyforHumanResource during their retirement.Management, creates better workplaces where This is about planning financial security for 20employers and employees thrive together. As the or 30 years, said Vernon, who contributed to avoice of all things work, workers and the workplace, series of essays on retirement planning for theSHRMistheforemostexpert,convenerand thought leader on issues impacting todays evolving Society of Actuaries. They need to know whatworkplaces.With300,000+HRandbusiness to expect in retirement and what steps they canexecutive members in 165 counties, SHRM impacts take to trigger good decisions about retirement.the lives of more than 115 million workers and if they work in a public-facing job, some olderfamilies globally. Learn more at SHRM.org and on workers may be contemplating early retirementTwitter because of the health risks from the pandemic. In this case, those employees need to make sure they know and understand the consequences of retiring early. Social Security claiming strategies 40 www.mrca.orgMidwest Roofer'