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

Healthcare Provider Update: Offers health insurance with multiple plan options including HSA, PPO, EPO, and HMO, plus dental, vision, mental health, and transgender care benefits 3. As ACA subsidies phase out, Teradynes diverse plan offerings and wellness programs help employees manage healthcare costs and maintain coverage stability. 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 Teradyne.

1. Mental Benefits

Working during your Teradyne 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 Teradyne 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 Teradyne 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 Teradyne.

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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 Teradyne's 401(k) plan?

Teradyne's 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How does Teradyne match employee contributions to the 401(k) plan?

Teradyne offers a company match on employee contributions, typically matching a percentage of the employee's contributions up to a certain limit.

What are the eligibility requirements for Teradyne's 401(k) plan?

Employees of Teradyne are generally eligible to participate in the 401(k) plan after completing a specific period of service, usually within the first year of employment.

Can Teradyne employees change their contribution amounts to the 401(k) plan?

Yes, Teradyne employees can change their contribution amounts to the 401(k) plan at designated times throughout the year.

What investment options are available in Teradyne's 401(k) plan?

Teradyne's 401(k) plan typically offers a range of investment options, including mutual funds, target-date funds, and company stock.

When can Teradyne employees start withdrawing from their 401(k) plan?

Teradyne employees can generally start withdrawing from their 401(k) plan without penalties at age 59½, although specific rules apply.

Does Teradyne offer a loan option through its 401(k) plan?

Yes, Teradyne allows employees to take loans against their 401(k) balances under certain conditions.

How can Teradyne employees access their 401(k) account information?

Teradyne employees can access their 401(k) account information through the company’s benefits portal or by contacting the plan administrator.

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

If you leave Teradyne, you have several options for your 401(k), including rolling it over to an IRA, transferring it to a new employer's plan, or cashing it out (subject to taxes and penalties).

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

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