Church Pension Group | Road To Retirement Checklist

Road To Retirement Checklist

Whether retirement is a distant dream or a next step, it is never too early or too late to start planning!

Clergy Course

Five Years to Retirement: Your Roadmap to Retirement Readiness

About This Course

What’s a practical approach to reaching any destination? Follow a map. That also makes sense for retirement planning. This course offers easy-to-understand information on finance and health for anyone planning to retire in five years or less.

Explore topics such as:

  • Balancing retirement income and lifestyle
  • Withdrawing retirement savings
  • Reducing debt
  • Managing roadblocks to retirement plans

With retirement only five years away, now’s the time to determine your route. These suggestions and tips may help you prepare.


Approximately 10 minutes per section


Retirement Planning Checklist

  • Set realistic financial goals for retirement.
  • Make a budget and stick to it.
  • Estimate the cost of college education for children and other family members you are financially responsible for.
  • Review your Group Life Insurance benefits.
  • Review your pension benefits. Call Client Services to arrange a time to review the status of your benefits at (866) 802-6333 Monday - Friday, 8:30AM - 8:00PM ET (excluding holidays).
  • Assess your savings, including retirement savings and other pension plans in which you or your spouse may be vested, as well as other potential sources of retirement income.
  • Review your Church Pension Fund life insurance beneficiary information, as well as beneficiaries on other policies you may have. Download the Group Life Insurance Beneficiary Form.
  • Review the beneficiaries you have named for Clergy Pension Plan benefits: pre-retirement survivor beneficiary and lump sum death benefit beneficiary. (Refer to your Personal Information Summary or call us at (866) 802-6333, Monday - Friday, 8:30AM - 8:00PM ET, excluding holidays.)
  • Review your annuities and retirement savings accounts.
  • Think about where you would like to live in retirement and research costs.
  • Review your Social Security information.
  • Remember to continue using the Internal Revenue Service's housing exclusion for clergy.
  • Review your medical insurance needs and options.

If You’re Retiring Soon

If you plan to retire within the next six months, you should:

  • Request your Medicare card from Social Security three months before your 65th birthday.
  • Decide when to take Social Security benefits.
  • Consider opportunities to earn income after retirement, but remember that Social Security and The Church Pension Fund limit retirement earnings.
  • Continue using the Internal Revenue Service's housing exclusion for clergy.