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Paulette Clark, Human Resources Employee Benefits Program Manager, has 40 years of
experience in retirement and benefits and has been with the County for over 22 years.
Paulette and the Employee Benefits team are an excellent resource for all matters related
to County employee benefits and retirement. For employees interested in learning or who
are preparing for retirement, Paulette offers the following best tips.

What is the best part about helping employees to prepare for retirement?
Helping employees understand how valuable their CalPERS pension and post-
retirement benefits are and how the pension can pay them a life-long benefit. Also,

hearing what their plans are for the next chapter of life. I am always amazed at the Paulette Clark
various stories potential retirees share. Human Resources Employee
Benefits Program Manager
What advice do you have for someone just starting out in their career?
• Time is on their side. Start saving early, if possible, in the 457(b) plan (pre-tax or Roth).
• Talk to the qualified plan representative/financial planner to have a growth strategy.
• Explore the CalPERS website (it’s never too early to be informed).
• Do not talk to friends or co-workers for financial advice, as everyone’s situation is different.

What are some misconceptions you often hear about retirement?
• Many think they must take their money out of the county 457 plan when they separate or retire, when in reality,
it is most likely better to keep the funds in the account to benefit from the stability of the plan and low fee
structure.
• Many think that the pension will run out… not realizing it is a lifetime annuity.
• Many do not understand that retirees who meet the eligibility for health insurance upon retirement can move in
and out of the health insurance enrollment with a qualifying event or during open enrollment.

What are the top 3 things someone planning to retire should do to prepare?
1. Do their homework. CalPERS has a comprehensive website with videos and information that can help prepare
them for the process at https://www.youtube.com/calpers
2. Set a budget based on the anticipated retirement income.
3. Plan to pay off debts, such as student loan, auto loan and credit card debt.

Anything else you’d like to add?
• Complete and save a copy of the beneficiaries designated for various plans such as CalPERS retirement, 457(b)
plan and life insurance plans (this is subject to change over the years).
• Have a CalPERS Special Power of Attorney on file at https://www.calpers.ca.gov/docs/forms-
publications/special-power-attorney-pub.pdf

The Employee Benefits team is available to answer your retirement questions. Reach us at
benefitshelp@co.monterey.ca.us

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