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Discover the Top 5 Advantages of Continuing to Work in Retirement for Pioneer Natural Resources Employees

Healthcare Provider Update: Offers three medical plans administered by Aetna, along with dental, vision, and life insurance 4. As ACA premiums surge, Pioneers internal plan stability may shield employees from market volatility and subsidy loss impacts 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 Pioneer Natural Resources.

1. Mental Benefits

Working during your Pioneer Natural Resources 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 Pioneer Natural Resources 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 Pioneer Natural Resources 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 Pioneer Natural Resources.

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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 401(k) plan offered by Pioneer Natural Resources?

The 401(k) plan at Pioneer Natural Resources is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

How can I enroll in the Pioneer Natural Resources 401(k) plan?

Employees can enroll in the Pioneer Natural Resources 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does Pioneer Natural Resources offer a company match for the 401(k) contributions?

Yes, Pioneer Natural Resources offers a company match for employee contributions to the 401(k) plan, which helps to enhance retirement savings.

What is the maximum contribution limit for the Pioneer Natural Resources 401(k) plan?

The contribution limit for the Pioneer Natural Resources 401(k) plan is aligned with IRS guidelines, which may change annually. Employees should check the current limits for accurate information.

Can I change my contribution percentage to the Pioneer Natural Resources 401(k) plan?

Yes, employees can change their contribution percentage to the Pioneer Natural Resources 401(k) plan at any time, subject to the plan's rules.

What investment options are available in the Pioneer Natural Resources 401(k) plan?

The Pioneer Natural Resources 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.

Is there a vesting schedule for the company match in the Pioneer Natural Resources 401(k) plan?

Yes, Pioneer Natural Resources has a vesting schedule for the company match, which determines how much of the matched funds employees can keep based on their years of service.

How can I access my Pioneer Natural Resources 401(k) account information?

Employees can access their Pioneer Natural Resources 401(k) account information online through the plan's designated website or mobile app.

What happens to my Pioneer Natural Resources 401(k) if I leave the company?

If you leave Pioneer Natural Resources, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the plan if eligible.

Can I take a loan against my Pioneer Natural Resources 401(k) plan?

Yes, Pioneer Natural Resources allows employees to take loans against their 401(k) plan, subject to specific terms and conditions outlined in the plan document.