NAVIGATING THE WAY STAYING THE CHARTED COURSE: tells us and your loved ones how you would A RETIREMENT READINESS like your retirement savings distributed once ROUTINE MAINTENANCE PLAN you are no longer living. Notifying the Bene- fit Funds Office immediately of any changes to your address, marital status, or other life events will help us distribute any benefits you Protecting and preserving your hard-earned or your survivors and beneficiaries are entitled retirement savings for when you need them to quickly and accurately. Please keep in mind requires an ongoing commitment to regular that your account and beneficiary information maintenance and care. Once you have charted is maintained separately, and must be updated your unique path to financial freedom in retire- separately, for each of the Funds. ment, selecting waypoints along the journey, like checking your financial statements often and PICK A TIME keeping your survivor and beneficiary informa- tion up to date, can help you stay the course, or & REMIND adjust, to ensure your journey to retirement is as smooth as possible. You need a retirement Most employees use their annual benefit open readiness routine maintenance plan! enrollment season to make updates to bene- fit elections and report life-changing events CHECK-IN FOR like marriage (or divorce) and childbirth (or adoption) with their employers. This is also CHECK-UPS a perfect time to verify important account information the Benefit Funds Office uses, The IAM National Benefit Funds Office, and the service providers that we work with, make "SETTING A available valuable tools, resources, and infor- mation to support your retirement savings REMINDER goals. Checking your account statements and would like your retirement savings managed COULD HELP transaction details at least annually can not should you become temporarily or permanently only help you identify unusual activity on your incapacitated, as well as after you pass away. YOU ESTABLISH account but also ensures that you are regularly AND MAINTAIN reviewing and updating important account Providing the Benefit Funds Office with a copy A RETIREMENT information on file with the Benefit Funds of your fully executed power of attorney (or Office (or a service provider that we work with). other legal document authorizing another per- READINESS son to make specific legal and financial deci- Making plans for how your retirement savings sions on your behalf) helps us to know who has ROUTINE will be managed should something happen to permission to act for you if you become unable MAINTENANCE you is a difficult but critical part of your retire- to make decisions for yourself while you are PLAN." ment readiness maintenance routine. Retire- alive. While naming your beneficiary or ben- ment readiness includes identifying how you eficiaries is a straightforward process that 08 JOURNEY TO RETIREMENT OCTOBER 2022