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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 American Eagle Outfitters.
1. Mental Benefits
Working during your American Eagle Outfitters 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 American Eagle Outfitters 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 American Eagle Outfitters 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 American Eagle Outfitters.
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- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
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- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
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 type of retirement savings plan does American Eagle Outfitters offer to its employees?
American Eagle Outfitters offers a 401(k) retirement savings plan to help employees save for their future.
Is participation in the 401(k) plan at American Eagle Outfitters mandatory?
Participation in the 401(k) plan at American Eagle Outfitters is voluntary; employees can choose to enroll or opt out.
What are the eligibility requirements for the 401(k) plan at American Eagle Outfitters?
Employees of American Eagle Outfitters are typically eligible to participate in the 401(k) plan after completing a certain period of service, which is outlined in the employee handbook.
Does American Eagle Outfitters match employee contributions to the 401(k) plan?
Yes, American Eagle Outfitters offers a matching contribution to the 401(k) plan, subject to specific terms and conditions.
How can employees of American Eagle Outfitters enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan at American Eagle Outfitters by completing the necessary enrollment forms through the company’s HR portal.
What investment options are available in the American Eagle Outfitters 401(k) plan?
The American Eagle Outfitters 401(k) plan offers a variety of investment options, including mutual funds and other investment vehicles.
Can employees of American Eagle Outfitters change their contribution percentage to the 401(k) plan?
Yes, employees can change their contribution percentage to the 401(k) plan at any time, subject to the plan's guidelines.
What is the vesting schedule for the 401(k) match at American Eagle Outfitters?
The vesting schedule for the 401(k) match at American Eagle Outfitters typically follows a graded vesting schedule, which is detailed in the employee benefits documentation.
Are there any fees associated with the 401(k) plan at American Eagle Outfitters?
Yes, there may be administrative fees associated with the 401(k) plan at American Eagle Outfitters, which are disclosed in the plan documents.
Can employees take loans against their 401(k) balance at American Eagle Outfitters?
Yes, American Eagle Outfitters allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.
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5. BenefitsPRO, 2017