Financial security in retirement doesn't just happen. It takes planning and commitment and money. Your employer's retirement savings plan is an essential part of your future financial security. It is important to understand how your plan works and what benefits you will receive. Learn about the rights and responsibilities you have under the federal law that governs your plan, the Employee Retirement Income Security Act (ERISA). Remember to review your financial plans at least once a year to see if you need to make changes to stay on track for a secure retirement. Don't touch your retirement savings. The longer you leave the money there, the more time it has to grow. When you are thinking about retiring, be sure you understand the documents governing your health care plan. Although some employers continue to provide health care benefits to their retired employees, private-sector employers are not required to provide retiree health benefits. If you want to retire early, consider what you will do for health coverage before you are eligible for Medicare.

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