Discover the Top 5 Advantages of Continuing to Work in Retirement for Sanderson Farms 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 Sanderson Farms.

1. Mental Benefits

Working during your Sanderson Farms 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 Sanderson Farms 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 Sanderson Farms 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 Sanderson Farms.

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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 primary purpose of the 401(k) plan offered by Sanderson Farms?

The primary purpose of the 401(k) plan at Sanderson Farms is to help employees save for retirement by providing a tax-advantaged savings option.

Does Sanderson Farms match employee contributions to the 401(k) plan?

Yes, Sanderson Farms offers a matching contribution to employee 401(k) accounts, which helps to enhance retirement savings.

What types of contributions can employees make to the Sanderson Farms 401(k) plan?

Employees at Sanderson Farms can make pre-tax contributions, Roth contributions, and possibly after-tax contributions, depending on the plan's provisions.

How can employees enroll in the Sanderson Farms 401(k) plan?

Employees can enroll in the Sanderson Farms 401(k) plan by completing the enrollment process through the company’s HR portal or by speaking with a benefits representative.

What is the vesting schedule for employer contributions in the Sanderson Farms 401(k) plan?

The vesting schedule for employer contributions at Sanderson Farms typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a set period.

Can Sanderson Farms employees take loans against their 401(k) savings?

Yes, Sanderson Farms allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.

What investment options are available in the Sanderson Farms 401(k) plan?

The Sanderson Farms 401(k) plan offers a range of investment options, including mutual funds, target-date funds, and possibly company stock, allowing employees to diversify their portfolios.

Is there a minimum contribution requirement for the Sanderson Farms 401(k) plan?

Yes, Sanderson Farms may have a minimum contribution requirement for employees participating in the 401(k) plan, which is typically communicated during the enrollment process.

How often can Sanderson Farms employees change their contribution amounts to the 401(k) plan?

Employees at Sanderson Farms can typically change their contribution amounts to the 401(k) plan on a quarterly basis or as specified in the plan guidelines.

What happens to my Sanderson Farms 401(k) if I leave the company?

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