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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 Cerner.
1. Mental Benefits
Working during your Cerner 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 Cerner 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 Cerner 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 Cerner.
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- 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 Cerner 401(k) Savings Plan?
The Cerner 401(k) Savings Plan is a retirement savings plan that allows eligible employees to save for retirement through pre-tax and/or Roth contributions.
How can Cerner employees enroll in the 401(k) Savings Plan?
Cerner employees can enroll in the 401(k) Savings Plan by accessing the Cerner benefits portal during the enrollment period or upon hire.
What types of contributions can Cerner employees make to the 401(k) Savings Plan?
Cerner employees can make pre-tax contributions, Roth contributions, and after-tax contributions to the 401(k) Savings Plan.
Does Cerner offer a company match for the 401(k) Savings Plan?
Yes, Cerner offers a company match for employee contributions to the 401(k) Savings Plan, subject to specific terms and conditions.
What is the maximum contribution limit for Cerner employees participating in the 401(k) Savings Plan?
The maximum contribution limit for Cerner employees is determined by IRS regulations and may change annually; employees should check the latest IRS guidelines for the current limit.
When can Cerner employees start withdrawing from their 401(k) Savings Plan?
Cerner employees can typically start withdrawing from their 401(k) Savings Plan upon reaching age 59½, or earlier under certain circumstances such as financial hardship.
Are there any fees associated with the Cerner 401(k) Savings Plan?
Yes, there may be fees associated with the Cerner 401(k) Savings Plan, including administrative fees and investment-related fees. Employees should review the plan documents for details.
Can Cerner employees take a loan against their 401(k) Savings Plan?
Yes, Cerner allows employees to take a loan against their 401(k) Savings Plan, subject to specific terms and conditions outlined in the plan documents.
How can Cerner employees manage their 401(k) investments?
Cerner employees can manage their 401(k) investments by logging into the benefits portal and selecting from various investment options available in the plan.
What happens to a Cerner employee's 401(k) Savings Plan if they leave the company?
If a Cerner employee leaves the company, they can choose to leave their funds in the plan, roll them over to another retirement account, or withdraw the funds, subject to tax implications.
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5. BenefitsPRO, 2017