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! Here’s how to start:

  • 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.

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