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Discover the Top 5 Advantages of Continuing to Work in Retirement for Mattress Firm Group Employees

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 Mattress Firm Group.

1. Mental Benefits

Working during your Mattress Firm Group 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 Mattress Firm Group 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 Mattress Firm Group 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 Mattress Firm Group.

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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 Mattress Firm Group offer to its employees?

Mattress Firm Group offers a 401(k) retirement savings plan to help employees save for their future.

How can employees of Mattress Firm Group enroll in the 401(k) plan?

Employees of Mattress Firm Group can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.

Does Mattress Firm Group match employee contributions to the 401(k) plan?

Yes, Mattress Firm Group provides a matching contribution to employee 401(k) accounts, subject to certain limits and eligibility requirements.

What is the maximum contribution limit for the Mattress Firm Group 401(k) plan?

The maximum contribution limit for the Mattress Firm Group 401(k) plan is in accordance with IRS guidelines, which may change annually. Employees should check the current limit for the year.

Are there any vesting requirements for the 401(k) matching contributions at Mattress Firm Group?

Yes, Mattress Firm Group has a vesting schedule for matching contributions, meaning employees must work for the company for a certain period before they fully own those contributions.

Can employees of Mattress Firm Group take loans against their 401(k) savings?

Yes, Mattress Firm Group allows employees to take loans against their 401(k) savings, subject to the plan’s terms and conditions.

What investment options are available in the Mattress Firm Group 401(k) plan?

The Mattress Firm Group 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How often can employees of Mattress Firm Group change their 401(k) contribution amounts?

Employees of Mattress Firm Group can change their 401(k) contribution amounts at any time, subject to the plan’s guidelines.

Is there a penalty for withdrawing funds from the Mattress Firm Group 401(k) plan before retirement?

Yes, there may be penalties and taxes for withdrawing funds from the Mattress Firm Group 401(k) plan before reaching the age of 59½.

What happens to my 401(k) savings if I leave Mattress Firm Group?

If you leave Mattress Firm Group, you can choose to roll over your 401(k) savings into another retirement account, leave it in the Mattress Firm Group plan (if eligible), or cash it out (though this may incur taxes and penalties).