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Healthcare Provider Update: Offers group health insurance, including medical, dental, vision, and life insurance. Includes short/long-term disability, 401(k), and profit sharing. ACA planning encouraged for employees nearing retirement 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 Skechers U.S.A..
1. Mental Benefits
Working during your Skechers U.S.A. 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 Skechers U.S.A. 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 Skechers U.S.A. 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 Skechers U.S.A..
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- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
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 plan does Skechers U.S.A. offer to its employees?
Skechers U.S.A. offers a 401(k) retirement savings plan to its employees.
Is there a company match for contributions made to the 401(k) plan at Skechers U.S.A.?
Yes, Skechers U.S.A. provides a company match for eligible employee contributions to the 401(k) plan.
How can employees at Skechers U.S.A. enroll in the 401(k) plan?
Employees at Skechers U.S.A. can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What is the minimum age requirement to participate in the Skechers U.S.A. 401(k) plan?
The minimum age requirement to participate in the Skechers U.S.A. 401(k) plan is 21 years old.
How much can employees contribute to their 401(k) plans at Skechers U.S.A.?
Employees at Skechers U.S.A. can contribute up to the IRS limit for 401(k) contributions, which is adjusted annually.
Does Skechers U.S.A. offer any investment options within the 401(k) plan?
Yes, Skechers U.S.A. offers a variety of investment options within the 401(k) plan, including mutual funds and target-date funds.
Can employees at Skechers U.S.A. take loans against their 401(k) savings?
Yes, Skechers U.S.A. allows employees to take loans against their 401(k) savings under certain conditions.
What happens to the 401(k) plan if an employee leaves Skechers U.S.A.?
If an employee leaves Skechers U.S.A., they have several options for their 401(k) plan, including rolling it over to another retirement account or cashing it out.
Are there any fees associated with the Skechers U.S.A. 401(k) plan?
Yes, there may be administrative fees associated with the Skechers U.S.A. 401(k) plan, which are disclosed in the plan documents.
How often can employees at Skechers U.S.A. change their contribution amounts to the 401(k) plan?
Employees at Skechers U.S.A. can change their contribution amounts to the 401(k) plan at specified times, typically during open enrollment periods.
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5. BenefitsPRO, 2017