Get your head out of …. Creating problems that can be avoided. 

Although I have been retired over 15 years, I still receive employee benefit questions from a few employees and retirees of my old company. Sadly, many of those questions reflect the person not paying attention to their own situation, not planning, and thus putting themselves and family at risk.

Here is an example of a message I received recently.

“I retired in 2011 after around 35 years in Operations and Maintenance. I still stand confused on two things, maybe you can help me.

1.  I receive a pension if and when I pass will my spouse still receive it?

2.  Same with health benefits. We both get money from the company for health plans. If I pass will my spouse still receive what she gets now?”

“if” ? This guy is an optimist😎

Can you imagine being retired fourteen years and not knowing if and how your spouse is protected as a surviving spouse? I can’t, but over my career I saw it all the time. On too many occasions the failure to consider this part of planning was intentional. The worker wanted to keep all the benefits-mostly “his.” 

When this person retired, he received written notice of the form of pension, his spouse had to agree to it in writing. After he retired he received a letter confirming the selection and the amount of the payments … and still, not a clue. Today, he can go to a company website and obtain all his information – but that requires awareness and initiative. 

The company never paid health benefits for a surviving spouse and just three years ago this was explained in a extensive communication campaign for retirees – but it apparently didn’t make an impression. 

Has he planned for this new expense someday?

I’m pretty sure the HD community won’t fall into this head-in-the-sand trap, but trust me, this is the real world for many, I would venture most, Americans. I am convinced many of the financial/life problems people face are of their own doing.