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 KKR.
1. Mental Benefits
Working during your KKR 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 KKR 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 KKR 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 KKR.
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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 plan does KKR offer to its employees?
KKR offers a 401(k) retirement savings plan to its employees.
How can KKR employees enroll in the 401(k) plan?
KKR employees can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal.
Does KKR match employee contributions to the 401(k) plan?
Yes, KKR provides a matching contribution to employees' 401(k) plans, subject to certain limits.
What is the maximum contribution limit for KKR employees in the 401(k) plan?
The maximum contribution limit for KKR employees in the 401(k) plan is determined by the IRS and may change annually.
Can KKR employees change their contribution percentage at any time?
Yes, KKR employees can change their contribution percentage at any time, subject to the plan’s guidelines.
What investment options are available in KKR's 401(k) plan?
KKR’s 401(k) plan offers a variety of investment options, including mutual funds and target-date funds.
Is there a vesting schedule for KKR's 401(k) matching contributions?
Yes, KKR has a vesting schedule for its matching contributions, which determines when employees fully own those funds.
Can KKR employees take loans against their 401(k) savings?
Yes, KKR employees may have the option to take loans against their 401(k) savings, depending on the plan’s rules.
What happens to KKR employees' 401(k) accounts if they leave the company?
If KKR employees leave the company, they can roll over their 401(k) accounts to another retirement account or leave them with KKR, subject to plan provisions.
Does KKR provide financial education resources for employees regarding their 401(k) plans?
Yes, KKR offers financial education resources to help employees understand and manage their 401(k) plans effectively.
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5. BenefitsPRO, 2017