Nearing Age 62 and Beyond

What does “Phased Retirement” mean?
If a traditional retirement doesn’t appeal to you, The Navigators provides options for you to maximize your impact, effectiveness, and influence in the later stages of your life.  The phased retirement journey is a process of repositioning yourself by taking advantage of important age and benefit milestones that make new options available.  This can happen in 3 months or over a 20-year period, but the concept is that you can begin to retire from fundraising as you utilize the funding resources you have set aside over your career.  Click here for more information on The Phased Retirement Journey.

Just starting your retirement journey? Start here: Retirement Checklist – Starting the Conversation

Ready to retire? Learn more here: Retirement from Paid Employee- Checklist and information

Learn more about your specific retirement Journey:
Field Staff Phased Retirement Options (Full Time)
Field Staff Phased Retirement Options (Part Time)
HQ Phased Retirement Options (Full Time)
HQ Phased Retirement Options (Part Time)


Age 62

Age 65

Social Security FRA – Full Retirement Age

Age 70

Retiree Benefits

If you are age 62 or over and have worked for The Navigators for 10+ years, you and your spouse are eligible for the retiree benefits listed here:

401(a) Savings 

You are now eligible to take withdrawals from your 401(a) Basic Retirement Plan even if you are still working. Contact Fidelity at 800-343-0860 for assistance to begin your withdrawals.

Ministerial Earnings

Review the Ministerial Earnings Q&A and get a strategy in place to best utilize this great tax savings vehicle. To view your Ministerial Earnings balance, sign into Fidelity:

Social Security

You are eligible to receive a Social Security (SS) benefit if you have worked the required 40 quarters (see for info). Don’t forget that your spouse is eligible for their own benefit or a spousal benefit based on your worker benefit. To determine the best strategy for claiming your or your spouse’s SS, request the assistance of your financial planner or search for a Fidelity Investment Center near you (free of charge to Nav employees). Taking your SS benefit at age 62 means that you are taking your benefit early and you would receive between 70% – 80% of your Primary Insurance Amount. This reduction in your benefit will be permanently reduced and if you are still working you may be subject to an earnings limitation.

You are eligible to receive your full SS Primary Insurance Amount at the Social Security Full Retirement Age (FRA) and you will not be subject to an earnings limitation if you continue working after reaching FRA. Your FRA is based on your year of birth. If you were born after 1938 the FRA is gradually increasing. Please refer to and the FRA calculator to determine your FRA.

There is no benefit to delaying your Social Security benefit after age 70.



Most Americans are eligible for Medicare at age 65. You may waive Nav medical coverage but you must notify the Benefits Team within 31 days of your Medicare start date. Please note: when you participate in Nav medical coverage, the premiums are paid by the ministry account, but if you transition to Medicare, you will pay the premiums from your after-tax salary. Medicare Options helps you compare Nav vs. Medicare coverage to determine the best for your family. Medicare and You booklet is provided by Medicare each year. A phone number is on the back of this booklet for the State Health Insurance Assistance Program (SHIP) in your state. SHIP offers classes, counselors and information about what providers are licensed to sell Medicare Parts C & D, and Medigap products in your state.  (See the Medicare video and links below.)

Life Insurance


Your term life insurance coverage (both Basic and Supplemental, employee and spouse) will be reduced by 35% on your 65th birthday. Life insurance coverage increases in cost as you age. We recommend you periodically check with your financial planner on how much life insurance you need.


Your term life insurance coverage (both Basic and Supplemental, employee and spouse) will be reduced again by 50% of what it originally was at age 64. Life insurance coverage increases in cost as you age. We recommend
you periodically check with your financial planner on how much life insurance you need.



If you become disabled after age 65, your 66.66% wage replacement benefit would end upon becoming eligible for the full Social Security benefit.

If you become disabled after your Social Security FRA, the disability benefit will end at age 70.

If you become disabled after you turn 70, you may receive a disability benefit for one year.

When is my Navigators career ended?
Your career with The Navigators will end when you close your Field Cost Center (Ministry Account). You have the option to continue receiving communications from The Navigators that will provide homegoing announcements and important leadership updates.

What steps do I take to end my career?
You and your supervisor need to coordinate your last day and communications with your donors. For a timeline and specific steps please refer to Retirement Checklist – Starting the Conversation.

What are my Medicare options?
Once you reach age 65 you may be eligible for Medicare and you have the right to waive your Navigator medical coverage.  There are many aspects of this decision to consider.  Here are some resources that will help you determine what coverage is best for you and your family:

Medicare Options – HQ
Medicare Options – Field

Other helpful links:
How much life insurance do I need?
Worksheet to calculate your net worth
Testimonial on Social Security
Using Ministerial Earnings for MHA
End of Life Planning – tips from Nate Mirza

Visit for a free guide on Estate Planning with your Wills or Trusts.
Visit for a discounted Navigators Legacy Bundle of legal resources and tools.

Finishing strong with Nav Encore
If you are interested in pursuing the phased retirement journey there may be a point in time when you are ready to consider joining the Nav Encore Mission. You can join men and women who have committed to finishing strong by:

  • Using our God-given gifts
  • Serving wherever God leads
  • Multiplying generations of disciples

Visit the Nav Encore website and read their comprehensive brochure that describes their mission and other informational pieces that help you understand how this mission may be another important step in re-positioning yourself for continued ministry.