You may have received emails sent to your college email address offering to answer questions about your retirement benefits.

These messages usually go something like this: “Each year, as an employee of [name of your college] you are eligible to schedule a phone call or teleconference meeting with a representative for answers to your specific state, federal and individual retirement benefit questions. At your consultation, you will be provided with information that will tell you what your potential income can be when you retire, and how much longer you may have to work. That, along with advice on the best ways to utilize your options with your state retirement and/or Social Security benefits.”

Although there is a disclaimer at the end that states “Licensed representatives are not employees of the college or state retirement system,” some faculty may be taken in by statements such as, “All representatives are licensed by the state department of insurance and are appointed with college-approved vendors.”

Some of these private agents try to get faculty to sign up for programs that charge high fees or have hidden costs. Consider the source and proceed with caution! Reputable consultants are available to help you with retirement options at CalSTRS or Social Security.