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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 Crocs.
1. Mental Benefits
Working during your Crocs 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 Crocs 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 Crocs 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 Crocs.
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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!
- 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 401(k) plan offered by Crocs?
The 401(k) plan at Crocs is a retirement savings plan that allows employees to save for their future with pre-tax contributions.
How can I enroll in the Crocs 401(k) plan?
Employees can enroll in the Crocs 401(k) plan by accessing the company’s benefits portal and following the enrollment instructions provided.
Does Crocs match employee contributions to the 401(k) plan?
Yes, Crocs offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the vesting schedule for Crocs' 401(k) matching contributions?
The vesting schedule for Crocs' matching contributions typically follows a standard timeline, which employees can review in the benefits documentation.
Can I change my contribution percentage to the Crocs 401(k) plan?
Yes, employees at Crocs can change their contribution percentage at any time through the benefits portal.
What investment options are available in the Crocs 401(k) plan?
The Crocs 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Is there a minimum contribution requirement for the Crocs 401(k) plan?
Yes, Crocs may have a minimum contribution requirement, which employees should check in the plan details.
Can I take a loan from my Crocs 401(k) plan?
Yes, Crocs allows employees to take loans from their 401(k) accounts under certain conditions as outlined in the plan documents.
What happens to my Crocs 401(k) if I leave the company?
If you leave Crocs, you will have options regarding your 401(k) account, including rolling it over to another retirement account or cashing it out.
How often can I review my Crocs 401(k) account statements?
Crocs provides regular account statements, typically quarterly, allowing employees to review their 401(k) account performance.
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5. BenefitsPRO, 2017