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Discover the Top 5 Advantages of Continuing to Work in Retirement for Celanese 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 Celanese.

1. Mental Benefits

Working during your Celanese 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 Celanese 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 Celanese 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 Celanese.

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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 purpose of the 401(k) Savings Plan at Celanese?

The purpose of the 401(k) Savings Plan at Celanese is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax or after-tax basis.

How does Celanese match employee contributions to the 401(k) Savings Plan?

Celanese offers a matching contribution to the 401(k) Savings Plan, where the company matches a percentage of employee contributions, helping to maximize retirement savings.

What types of investments are available in Celanese's 401(k) Savings Plan?

Celanese's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Can Celanese employees change their contribution percentage to the 401(k) Savings Plan?

Yes, Celanese employees can change their contribution percentage to the 401(k) Savings Plan at any time, subject to the plan's guidelines.

What is the vesting schedule for Celanese's 401(k) Savings Plan?

The vesting schedule for Celanese's 401(k) Savings Plan dictates how long employees must work for the company before they fully own the employer's matching contributions.

When can Celanese employees start contributing to the 401(k) Savings Plan?

Celanese employees can typically start contributing to the 401(k) Savings Plan after completing a certain period of employment, often within their first few months.

Does Celanese allow for loans against the 401(k) Savings Plan?

Yes, Celanese allows employees to take loans against their 401(k) Savings Plan balance, subject to specific terms and conditions outlined in the plan.

How can Celanese employees access their 401(k) Savings Plan account information?

Celanese employees can access their 401(k) Savings Plan account information through the company’s designated retirement plan website or by contacting the plan administrator.

Are there any fees associated with Celanese's 401(k) Savings Plan?

Yes, there may be fees associated with Celanese's 401(k) Savings Plan, which can include administrative fees and investment management fees, as outlined in the plan documents.

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

If a Celanese employee leaves the company, they have several options regarding their 401(k) Savings Plan, including rolling it over to another retirement account, cashing it out, or leaving it with Celanese.

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

Celanese announced a restructuring plan that includes significant layoffs across its global operations. The company is focusing on streamlining its processes and reducing operational costs. This restructuring is part of a broader strategy to improve financial performance and efficiency.

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For more information you can reach the plan administrator for Celanese at 222 W. Las Colinas Blvd. Irving, TX 75039; or by calling them at +1 972-443-4000.