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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 Fortinet.
1. Mental Benefits
Working during your Fortinet 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 Fortinet 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 Fortinet 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 Fortinet.
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- 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!
- 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 Fortinet?
Fortinet offers a 401(k) plan that allows employees to save for retirement through pre-tax contributions, which can help reduce taxable income.
Does Fortinet match employee contributions to the 401(k) plan?
Yes, Fortinet provides a matching contribution to employee 401(k) plans, helping to enhance employees' retirement savings.
What is the eligibility requirement for Fortinet's 401(k) plan?
Employees at Fortinet are eligible to participate in the 401(k) plan after completing a specified period of employment, typically within the first few months.
How can employees at Fortinet enroll in the 401(k) plan?
Employees can enroll in Fortinet's 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What types of investment options are available in Fortinet's 401(k) plan?
Fortinet's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.
Can employees at Fortinet take loans against their 401(k) savings?
Yes, Fortinet allows employees to take loans against their 401(k) savings, subject to certain conditions and limits.
What happens to my 401(k) if I leave Fortinet?
If you leave Fortinet, you can either roll over your 401(k) balance into another retirement account or leave it in Fortinet's plan, subject to the plan's rules.
Is there a vesting schedule for Fortinet's 401(k) matching contributions?
Yes, Fortinet has a vesting schedule for matching contributions, which means employees must work for a certain period to fully own the employer match.
How often can employees change their contribution amounts to Fortinet's 401(k) plan?
Employees at Fortinet can typically change their contribution amounts at any time, subject to the plan's specific guidelines.
Are there any fees associated with Fortinet's 401(k) plan?
Yes, Fortinet's 401(k) plan may have administrative fees and investment fees, which are disclosed in the plan documents.
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5. BenefitsPRO, 2017