It also marks the beginning of another part of life's journey as the retiree looks forward to spending relaxing days pursuing interests often put on the back burner during his working years.
Luxurious bath oils, sensuous body lotions and silky body creams are often combined with beautifully-scented candles, CDs of tranquil music and soft comfortable bath pillows in gift baskets made to indulge the retiree.
In addition, a poem written especially for the retiree will be far more special than a random piece of work by an unknown author, much like a handwritten letter compared to a commercial greeting card.
Upon retirement, with twenty years of service to the college, and a minimum of five years contributing to the trust, a retiree will receive one hundred percent of the Standard Benefit Amount, or SBA.
As the cost of healthcare continues to rise, many companies and unions with large memberships have instituted a new approach to help their retirees with medical costs called a Retiree Medical Trust.