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 OGE Energy Employees

Healthcare Provider Update: Provides company health insurance, preventive care, ergonomic workstations, and wellness programs. Employees also receive group accident insurance and access to mental health services 2. With ACA insurers requesting double-digit hikes, OGEs internal health offerings may help employees avoid the financial strain of rising marketplace premiums. 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 OGE Energy.

1. Mental Benefits

Working during your OGE 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 OGE 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 OGE 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 OGE 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 is the purpose of OGE Energy's 401(k) Savings Plan?

The purpose of OGE Energy's 401(k) Savings Plan is to help employees save for retirement by providing a tax-advantaged way to contribute a portion of their salary.

How can I enroll in OGE Energy's 401(k) Savings Plan?

Employees can enroll in OGE Energy's 401(k) Savings Plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.

What types of contributions can I make to OGE Energy's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and, in some cases, catch-up contributions if they are age 50 or older in OGE Energy's 401(k) Savings Plan.

Does OGE Energy offer a company match for 401(k) contributions?

Yes, OGE Energy offers a company match for employee contributions to the 401(k) Savings Plan, which helps to enhance retirement savings.

What is the vesting schedule for OGE Energy's 401(k) company match?

The vesting schedule for OGE Energy's 401(k) company match typically follows a graded vesting schedule, which means employees become vested in the company match over a specified period of service.

Can I take loans against my 401(k) balance at OGE Energy?

Yes, OGE Energy's 401(k) Savings Plan allows employees to take loans against their account balance, subject to certain terms and conditions.

What investment options are available in OGE Energy's 401(k) Savings Plan?

OGE Energy's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and potentially company stock, allowing employees to diversify their retirement savings.

How often can I change my contribution amount to OGE Energy's 401(k) Savings Plan?

Employees can change their contribution amount to OGE Energy's 401(k) Savings Plan at any time, typically through the HR portal or by contacting HR.

Is there a minimum contribution requirement for OGE Energy's 401(k) Savings Plan?

Yes, OGE Energy's 401(k) Savings Plan may have a minimum contribution requirement, which is typically outlined in the plan documents provided to employees.

How can I check my 401(k) balance with OGE Energy?

Employees can check their 401(k) balance with OGE Energy by logging into the plan's online portal or by contacting the plan administrator for assistance.