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Pre-retirement Checklist Information

Date: October 8, 2019

Provided By Fidelity.com

The Continental Airlines Retirement Plan (CARP) interest rates used to determine lump sum options and monthly annuity disbursements have recently been announced. Flight Attendants studying the plan with retirement in mind might want to consider reviewing the pre-retirement information from Fidelity, provided in the links below.

The information contained in the following links is a valuable asset to help organize your retirement finances:

Help Protect Your Retirement Savings

Create a Retirement Income Plan

Know When to Apply for Medicare

Know When to Apply for Your Social Security Benefits

Select Pension Benefits and 401(k) Distribution Options

Review Wills, Trusts, Powers of Attorney, and Beneficiaries

Be advised that retirement assets, unlike real estate or savings, generally do not follow the instructions that you leave behind in a will unless you take appropriate action to direct those assets after your death. In the absence of specific direction, retirement savings accounts normally pass directly to beneficiaries designated by you for each retirement account.

With that in mind, it's important to keep your beneficiaries up to date. It is also a good idea to understand how assets from your retirement accounts will be distributed to your beneficiaries.

Fidelity IRAs offer flexible beneficiary designations and also allow inheritors to stretch out your retirement savings through an Inherited IRA. For these reasons, it’s a good idea to have your lawyer and/or financial planner review your will, trust, powers of attorney, beneficiary designations, and investment plans to make sure that you and your beneficiaries are appropriately protected.

More details are provided in the following article. Flight Attendants considering retirement are encouraged to review the provided information. Questions concerning the CARP or retirement in general can be directed to your Local Benefits Committee.

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