Healthcare Provider Update: Healthcare Provider for Applied Materials: Applied Materials has established a partnership with the Health Advocate for its employee healthcare services. This organization is focused on providing a comprehensive benefits platform, offering resources to help employees navigate their healthcare options effectively. Potential Healthcare Cost Increases in 2026: As 2026 approaches, employees at Applied Materials should brace for significant increases in healthcare costs. Recent projections indicate that healthcare premiums in many states could jump by over 60%, compounded by the anticipated expiration of enhanced federal subsidies. Medical inflation, escalating pharmaceutical prices, and moderating economic conditions are contributing factors, with some employees facing the prospect of a 75% rise in out-of-pocket costs. By understanding these trends and preparing early, employees can take proactive measures to manage their healthcare expenses in the challenging landscape ahead. 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 Applied Materials.
1. Mental Benefits
Working during your Applied Materials 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 Applied Materials 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 Applied Materials 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 Applied Materials.
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- 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!
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- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
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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 Applied Materials?
The 401(k) plan at Applied Materials is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or Roth after-tax basis.
How does Applied Materials match employee contributions to the 401(k) plan?
Applied Materials offers a company match on employee contributions to the 401(k) plan, which helps employees maximize their retirement savings.
When can I enroll in the 401(k) plan at Applied Materials?
Employees at Applied Materials can enroll in the 401(k) plan during their initial onboarding or during the annual open enrollment period.
What are the contribution limits for the Applied Materials 401(k) plan?
The contribution limits for the Applied Materials 401(k) plan are set according to IRS guidelines, which may change annually.
Can I take a loan against my 401(k) plan with Applied Materials?
Yes, Applied Materials allows employees to take loans against their 401(k) plan, subject to certain terms and conditions.
What investment options are available in the Applied Materials 401(k) plan?
The Applied Materials 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How can I access my 401(k) account information at Applied Materials?
Employees can access their 401(k) account information through the online portal provided by the plan administrator for Applied Materials.
What happens to my 401(k) if I leave Applied Materials?
If you leave Applied Materials, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it with Applied Materials.
Does Applied Materials offer financial education resources for employees regarding the 401(k) plan?
Yes, Applied Materials provides financial education resources and workshops to help employees make informed decisions about their 401(k) savings.
Can I change my contribution percentage to the Applied Materials 401(k) plan at any time?
Yes, employees can change their contribution percentage to the Applied Materials 401(k) plan at any time, subject to plan rules.
5. BenefitsPRO, 2017