Friday, September 27, 2013

The P Word

Pension--Somehow  words like Social Security and Pensions make me feel very old.  I have avoided even thinking about them over the years.  Now they are a part of my life.  Yesterday's South Bend Tribune had an article about Indiana Pension Funds and I read it with interest.  Greg had told me that things were changing and it might be a good time to get out!

The Teacher's Retirement Fund (TRF) application looked daunting.  The choices included language I did not understand.  A colleague had told me that an important factor in the selections was whether or not one's survivor needed the money.  Jim will not need my funds if he survives me so it seemed best to take as much as I can now. 

I pulled out a packed file labeled "pension" from the basement and threw out all the dated forms.   I was motivated now to do more than to put papers away without a second look and much more began to make sense--the pension, the annuity, the life insurance.  

I copied the relevant pages with six choices each and sent them to my brother-in-law telling him how he has helped many old ladies (his mother, his aunt, Jim's mom) with their finances and now it was my turn.  He laughed and protested that I was a peer!  But he was very helpful and I was able to make my decisions.

I decided to fill out the forms online because that went so well with the Social Security application. (I think!)   It was completed in maybe twenty minutes.   I made copies of our birth certificates and my driver's license and mailed them in separately to Indianapolis.

Now I will wait.  I should be contacted if more information is needed. 

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