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Discover the Top 5 Advantages of Continuing to Work in Retirement for Ryerson Holding Employees

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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 Ryerson Holding.

1. Mental Benefits

Working during your Ryerson Holding 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 Ryerson Holding 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 Ryerson Holding 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 Ryerson Holding.

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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 Ryerson Holding offer to its employees?

Ryerson Holding offers a 401(k) retirement savings plan to help employees save for their future.

Does Ryerson Holding match employee contributions to the 401(k) plan?

Yes, Ryerson Holding provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

What is the eligibility requirement for Ryerson Holding employees to participate in the 401(k) plan?

Employees of Ryerson Holding are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

How can Ryerson Holding employees enroll in the 401(k) plan?

Ryerson Holding employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What types of investment options are available in Ryerson Holding's 401(k) plan?

Ryerson Holding's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Can Ryerson Holding employees change their contribution percentage to the 401(k) plan?

Yes, employees at Ryerson Holding can change their contribution percentage at any time, subject to the plan's guidelines.

Is there a vesting schedule for Ryerson Holding's 401(k) matching contributions?

Yes, Ryerson Holding has a vesting schedule for matching contributions, which means employees must work for a certain period before they fully own the matched funds.

How often can Ryerson Holding employees make changes to their investment choices within the 401(k) plan?

Ryerson Holding employees can typically make changes to their investment choices on a quarterly basis or as specified in the plan documents.

What resources does Ryerson Holding provide to help employees manage their 401(k) accounts?

Ryerson Holding provides access to financial advisors, online tools, and educational materials to help employees manage their 401(k) accounts effectively.

Are there any fees associated with Ryerson Holding's 401(k) plan?

Yes, there may be administrative fees and investment-related fees associated with Ryerson Holding's 401(k) plan, which are disclosed in the plan documents.