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Discover the Top 5 Advantages of Continuing to Work in Retirement for Akamai Technologies Employees

Healthcare Provider Update: Offers multiple PPO and HMO medical plans (BCBSMA and Kaiser), plus dental (Delta Dental) and vision (VSP). Includes HSA with up to $2,000 employer contribution, mental health support (up to 16 sessions/year), and wellness allowances. ACA-related planning encouraged for employees evaluating coverage options amid rising premiums Click here to learn more

In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.(1) As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits you can enjoy after you retire from Akamai Technologies.

1. Mental Benefits

Working during your Akamai Technologies retirement can help maintain mental agility as you learn new skills. Staying engaged in work helps build 'mental muscle,' which can lessen the risk of developing dementia and Alzheimers(2) and ward off the signs of aging.

2.. Physical Benefits

Staying active during your Akamai Technologies retirement years is crucial for continued health. Whether you choose to work full-time or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.

3. Financial Benefits

Besides the obvious extra income, working during your Akamai Technologies retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.(3) Finding a strategy that works for you can truly pay off.

4. Emotional Benefits

Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your years or retirement from Akamai Technologies.

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5. Social Benefits

One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.

Sources

1. AARP.org, February/March 2015

2. Forbes, 2017

3. Social Security Administration, 2017

4. Association for Psychological Science, 2017

What is the 401(k) plan offered by Akamai Technologies?

The 401(k) plan at Akamai Technologies is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or Roth basis.

How does Akamai Technologies match employee contributions to the 401(k) plan?

Akamai Technologies offers a company match for employee contributions to the 401(k) plan, typically matching a percentage of the employee's contributions up to a certain limit.

When can employees at Akamai Technologies enroll in the 401(k) plan?

Employees at Akamai Technologies can enroll in the 401(k) plan during their initial onboarding or during the annual open enrollment period.

What investment options are available in the Akamai Technologies 401(k) plan?

The Akamai Technologies 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles tailored to different risk tolerances.

Is there a vesting schedule for the Akamai Technologies 401(k) plan?

Yes, Akamai Technologies has a vesting schedule for its 401(k) contributions, meaning that employees must work for a certain period before they fully own the company’s matching contributions.

Can employees take loans against their 401(k) plans at Akamai Technologies?

Yes, Akamai Technologies allows employees to take loans against their 401(k) plans, subject to specific terms and conditions.

What happens to my 401(k) if I leave Akamai Technologies?

If you leave Akamai Technologies, you can choose to roll over your 401(k) balance into an IRA or another employer’s retirement plan, cash out, or leave it in the Akamai plan if eligible.

How can employees at Akamai Technologies change their 401(k) contribution percentage?

Employees can change their 401(k) contribution percentage by accessing their account through the Akamai Technologies benefits portal and following the instructions provided.

Does Akamai Technologies provide financial planning resources for employees regarding the 401(k) plan?

Yes, Akamai Technologies offers financial planning resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

Are there any fees associated with the Akamai Technologies 401(k) plan?

Yes, there may be administrative and investment fees associated with the Akamai Technologies 401(k) plan, which are disclosed in the plan documents.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

News: Akamai Technologies recently announced a restructuring plan to streamline operations, which includes some workforce reductions. The company is focusing on enhancing its core business areas while reducing costs. Important: Addressing this news is crucial due to the current economic climate, which impacts job stability and financial planning. Understanding these changes helps employees and investors adjust their strategies in a shifting market.

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For more information you can reach the plan administrator for Akamai Technologies at 150 Broadway Cambridge, MA 2142; or by calling them at (617) 444-3000.