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Healthcare Provider Update: StoneX provides health insurance, cafeteria perks, and job training, though details on specific providers are limited 6. With ACA premiums expected to rise sharply, StoneXs internal coverage may offer more stability, especially for employees with dependents. 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 StoneX Group.
1. Mental Benefits
Working during your StoneX Group 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 StoneX Group 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 StoneX Group 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 StoneX Group.
Articles you may find interesting:
- 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!
- 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 StoneX Group offer to its employees?
StoneX Group offers a 401(k) retirement plan to help employees save for their future.
How can employees at StoneX Group enroll in the 401(k) plan?
Employees can enroll in the StoneX Group 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does StoneX Group match employee contributions to the 401(k) plan?
Yes, StoneX Group offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the maximum contribution limit for the StoneX Group 401(k) plan?
The maximum contribution limit for the StoneX Group 401(k) plan follows the IRS guidelines, which are updated annually.
Can employees at StoneX Group take loans against their 401(k) savings?
Yes, StoneX Group allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
Are there any fees associated with the StoneX Group 401(k) plan?
Yes, there may be administrative fees associated with the StoneX Group 401(k) plan, which are disclosed in the plan documents.
What investment options are available in the StoneX Group 401(k) plan?
The StoneX Group 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.
When can employees at StoneX Group start withdrawing from their 401(k) plan?
Employees can typically start withdrawing from their StoneX Group 401(k) plan at age 59½, subject to certain conditions.
Does StoneX Group provide educational resources about the 401(k) plan?
Yes, StoneX Group offers educational resources and workshops to help employees understand their 401(k) plan options and investment strategies.
How often can employees at StoneX Group change their 401(k) contribution amounts?
Employees at StoneX Group can change their 401(k) contribution amounts at any time, typically during open enrollment periods or as specified in the plan.
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5. BenefitsPRO, 2017