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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 Dentsply Sirona.
1. Mental Benefits
Working during your Dentsply Sirona 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 Dentsply Sirona 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 Dentsply Sirona 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 Dentsply Sirona.
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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 Dentsply Sirona 401(k) plan?
The Dentsply Sirona 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them prepare for retirement.
How can Dentsply Sirona employees enroll in the 401(k) plan?
Dentsply Sirona 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.
What is the company match for the Dentsply Sirona 401(k) plan?
Dentsply Sirona offers a company match for contributions made to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.
When can Dentsply Sirona employees start contributing to the 401(k) plan?
Dentsply Sirona employees can start contributing to the 401(k) plan after completing their eligibility period, which is usually outlined in the employee handbook.
What investment options are available in the Dentsply Sirona 401(k) plan?
The Dentsply Sirona 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees grow their savings.
Are there any fees associated with the Dentsply Sirona 401(k) plan?
Yes, there may be administrative fees and fund management fees associated with the Dentsply Sirona 401(k) plan, which are typically disclosed in the plan documents.
Can Dentsply Sirona employees take loans against their 401(k) savings?
Yes, Dentsply Sirona employees may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What happens to my Dentsply Sirona 401(k) if I leave the company?
If you leave Dentsply Sirona, you can choose to roll over your 401(k) balance to another retirement account, cash out your balance, or leave it in the Dentsply Sirona plan if allowed.
How often can Dentsply Sirona employees change their contribution amount?
Dentsply Sirona employees can typically change their contribution amount at any time, subject to the plan’s guidelines.
Is there a vesting schedule for the Dentsply Sirona 401(k) company match?
Yes, Dentsply Sirona has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched funds.
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5. BenefitsPRO, 2017