New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Discover the Top 5 Advantages of Continuing to Work in Retirement for NRG Energy Employees

Healthcare Provider Update: NRG Energy offers its employees a robust benefits package that includes medical, dental, vision, and mental health coverage. Employees can participate in a 401(k) plan with company matching, flexible spending accounts, and life and disability insurance. Additional perks include paid holidays, volunteer time, tuition reimbursement, and family medical leave 2. Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. 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 NRG Energy.

1. Mental Benefits

Working during your NRG Energy 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 NRG Energy 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 NRG Energy 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 NRG Energy.

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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 NRG Energy offer to its employees?

NRG Energy offers a 401(k) retirement savings plan to its employees.

Is participation in the NRG Energy 401(k) plan mandatory for employees?

Participation in the NRG Energy 401(k) plan is voluntary; employees can choose whether or not to enroll.

What is the company match for the NRG Energy 401(k) plan?

NRG Energy matches a percentage of employee contributions to the 401(k) plan, up to a certain limit, which is detailed in the plan documents.

At what age can employees start contributing to the NRG Energy 401(k) plan?

Employees can start contributing to the NRG Energy 401(k) plan as soon as they are eligible, typically upon their date of hire.

How can employees at NRG Energy enroll in the 401(k) plan?

Employees at NRG Energy can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does NRG Energy offer a Roth 401(k) option within its savings plan?

Yes, NRG Energy offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

How often can employees change their contribution rates to the NRG Energy 401(k) plan?

Employees can change their contribution rates to the NRG Energy 401(k) plan on a quarterly basis or as specified in the plan guidelines.

What investment options are available in the NRG Energy 401(k) plan?

The NRG Energy 401(k) plan offers a range of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees take loans against their 401(k) savings at NRG Energy?

Yes, employees may be able to take loans against their 401(k) savings at NRG Energy, subject to the terms of the plan.

What happens to my NRG Energy 401(k) if I leave the company?

If you leave NRG Energy, you can choose to roll over your 401(k) balance to another retirement account, withdraw the funds, or leave the money in the NRG Energy plan if allowed.