JOURNEY TO RETIREMENT OCTOBER 2022 08 Protecting and preserving your hard-earned retirement savings for when you need them requires an ongoing commitment to regular maintenance and care. Once you have charted your unique path to financial freedom in retire- ment, selecting waypoints along the journey, like checking your financial statements often and keeping your survivor and beneficiary informa - tion up to date, can help you stay the course, or adjust, to ensure your journey to retirement is as smooth as possible. You need a retirement readiness routine maintenance plan! CHECK-IN FOR CHECK-UPS The IAM National Benefit Funds Office, and the service providers that we work with, make available valuable tools, resources, and infor - mation to support your retirement savings goals. Checking your account statements and transaction details at least annually can not only help you identify unusual activity on your account but also ensures that you are regularly reviewing and updating important account information on file with the Benefit Funds Office (or a service provider that we work with). Making plans for how your retirement savings will be managed should something happen to you is a difficult but critical part of your retire - ment readiness maintenance routine. Retire- ment readiness includes identifying how you would like your retirement savings managed should you become temporarily or permanently incapacitated, as well as after you pass away. Providing the Benefit Funds Office with a copy of your fully executed power of attorney (or other legal document authorizing another per - son to make specific legal and financial deci - sions on your behalf) helps us to know who has permission to act for you if you become unable to make decisions for yourself while you are alive. While naming your beneficiary or ben - eficiaries is a straightforward process that tells us and your loved ones how you would like your retirement savings distributed once 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 or your survivors and beneficiaries are entitled to quickly and accurately. Please keep in mind that your account and beneficiary information is maintained separately, and must be updated separately, for each of the Funds. PICK A TIME & REMIND Most employees use their annual benefit open enrollment season to make updates to bene - fit elections and report life-changing events like marriage (or divorce) and childbirth (or adoption) with their employers. This is also a perfect time to verify important account information the Benefit Funds Office uses, STAYING THE CHARTED COURSE: A RETIREMENT READINESS ROUTINE MAINTENANCE PLAN NAVIGATING THE WAY "SETTING A REMINDER COULD HELP YOU ESTABLISH AND MAINTAIN A RETIREMENT READINESS ROUTINE MAINTENANCE PLAN."