Healthcare Provider Update: Offers health, dental, and vision insurance to employees working 30+ hours/week, along with wellness programs and an Employee Assistance Program (EAP) 1. With ACA premiums expected to rise by up to 75% due to subsidy expirations, Kaiser Aluminums employer-sponsored coverage provides a more stable and cost-effective alternative for eligible employees. Click here to learn more
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 Kaiser Aluminum.
1. Mental Benefits
Working during your Kaiser Aluminum 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 Kaiser Aluminum 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 Kaiser Aluminum 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 Kaiser Aluminum.
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- 401K, Social Security, Pension – How to Maximize Your Options
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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 type of retirement savings plan does Kaiser Aluminum offer to its employees?
Kaiser Aluminum offers a 401(k) retirement savings plan to its employees.
Does Kaiser Aluminum provide matching contributions to the 401(k) plan?
Yes, Kaiser Aluminum provides matching contributions to the 401(k) plan, helping employees maximize their retirement savings.
What is the eligibility requirement to participate in Kaiser Aluminum's 401(k) plan?
Employees at Kaiser Aluminum are typically eligible to participate in the 401(k) plan after completing a specified period of service, often within the first year of employment.
Can employees at Kaiser Aluminum choose how much to contribute to their 401(k) plan?
Yes, employees at Kaiser Aluminum can choose to contribute a percentage of their salary to the 401(k) plan, within IRS limits.
What investment options are available in Kaiser Aluminum's 401(k) plan?
Kaiser Aluminum's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their portfolios.
Is there a vesting schedule for the employer match in Kaiser Aluminum's 401(k) plan?
Yes, Kaiser Aluminum has a vesting schedule for employer matching contributions, which means employees must work for a certain period to fully own the matched funds.
How can employees at Kaiser Aluminum access their 401(k) account information?
Employees at Kaiser Aluminum can access their 401(k) account information online through the plan's designated website or by contacting the plan administrator.
What happens to the 401(k) plan if an employee leaves Kaiser Aluminum?
If an employee leaves Kaiser Aluminum, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Kaiser Aluminum plan, subject to certain conditions.
Are there loans available against the 401(k) plan at Kaiser Aluminum?
Yes, Kaiser Aluminum allows participants to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.
Can employees at Kaiser Aluminum change their contribution levels at any time?
Yes, employees at Kaiser Aluminum can change their contribution levels at designated times throughout the year, as specified in the plan guidelines.
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5. BenefitsPRO, 2017