Healthcare Provider Update: Provides health coverage through Credence Blue Cross Blue Shield, Aetna Dental, CVS Caremark, and EyeMed, with HDHP and HSA options 2. With ACA insurers requesting double-digit hikes, Atkores HDHP with HSA support offers a tax-advantaged, cost-effective alternative to marketplace plans. 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 Atkore.
1. Mental Benefits
Working during your Atkore 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 Atkore 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 Atkore 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 Atkore.
Articles you may find interesting:
- 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!
- 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 is the Atkore 401(k) plan?
The Atkore 401(k) plan is a retirement savings plan that allows employees to save for their future by contributing a portion of their salary on a pre-tax basis.
How can Atkore employees enroll in the 401(k) plan?
Atkore employees can enroll in the 401(k) plan by completing the enrollment process through the company's benefits portal or by contacting the HR department for assistance.
Does Atkore offer a company match for 401(k) contributions?
Yes, Atkore offers a company match for employee contributions to the 401(k) plan, which helps employees maximize their retirement savings.
What is the maximum contribution limit for Atkore’s 401(k) plan?
The maximum contribution limit for Atkore’s 401(k) plan is determined by the IRS guidelines, which are updated annually. Employees should check the latest limits for the current year.
Can Atkore employees change their contribution percentage to the 401(k) plan?
Yes, Atkore employees can change their contribution percentage at any time by accessing their account through the benefits portal.
What investment options are available in the Atkore 401(k) plan?
The Atkore 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
When can Atkore employees start withdrawing from their 401(k) plan?
Atkore employees can start withdrawing from their 401(k) plan without penalty after reaching the age of 59½, or under certain circumstances such as financial hardship.
Does Atkore allow loans against the 401(k) plan?
Yes, Atkore allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan documents.
Are there any fees associated with the Atkore 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Atkore 401(k) plan. Employees should review the plan documents for detailed information.
How often can Atkore employees change their investment options within the 401(k) plan?
Atkore employees can change their investment options within the 401(k) plan at any time, allowing for flexibility in managing their retirement savings.
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)
5. BenefitsPRO, 2017