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

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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 Blackstone.

1. Mental Benefits

Working during your Blackstone 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 Blackstone 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 Blackstone 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 Blackstone.

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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 Blackstone?

The 401(k) plan at Blackstone is a retirement savings plan that allows employees to save a portion of their salary before taxes are deducted.

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

Blackstone offers a matching contribution for employee contributions to the 401(k) plan, typically matching a percentage of the employee's contributions up to a certain limit.

What are the eligibility requirements for Blackstone's 401(k) plan?

Employees at Blackstone are generally eligible to participate in the 401(k) plan after completing a specific period of service, often within the first year of employment.

Can employees at Blackstone change their contribution percentage to the 401(k) plan?

Yes, employees at Blackstone can change their contribution percentage to the 401(k) plan at designated times throughout the year.

What investment options are available in Blackstone's 401(k) plan?

Blackstone's 401(k) plan offers a variety of investment options, including mutual funds, index funds, and target-date funds tailored to different risk levels.

Does Blackstone provide educational resources for employees regarding the 401(k) plan?

Yes, Blackstone offers educational resources and tools to help employees understand their 401(k) options and make informed investment decisions.

What is the vesting schedule for Blackstone's 401(k) matching contributions?

The vesting schedule for Blackstone's 401(k) matching contributions typically requires employees to work for a certain number of years before they fully own the matched funds.

Can Blackstone employees take loans against their 401(k) savings?

Yes, Blackstone allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

How can employees at Blackstone access their 401(k) account information?

Employees can access their 401(k) account information through Blackstone's designated online portal or by contacting the plan administrator.

What happens to a Blackstone employee's 401(k) if they leave the company?

If a Blackstone employee leaves the company, they can roll over their 401(k) balance into an IRA or a new employer's retirement plan, or they may choose to cash out, subject to taxes and penalties.

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

Blackstone announced a restructuring plan involving significant layoffs across various departments to streamline operations and reduce costs. This move comes amid an economic downturn impacting the private equity and investment sectors.