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 Texas Roadhouse.
1. Mental Benefits
Working during your Texas Roadhouse 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 Texas Roadhouse 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 Texas Roadhouse 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 Texas Roadhouse.
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- 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 Texas Roadhouse offer to its employees?
Texas Roadhouse offers a 401(k) retirement savings plan to its employees.
How can Texas Roadhouse employees enroll in the 401(k) plan?
Texas Roadhouse employees can enroll in the 401(k) plan by completing the enrollment process through the company's HR portal or by contacting HR for assistance.
Does Texas Roadhouse match employee contributions to the 401(k) plan?
Yes, Texas Roadhouse provides a matching contribution to employee 401(k) contributions, subject to certain limits.
What is the eligibility requirement for Texas Roadhouse employees to participate in the 401(k) plan?
Texas Roadhouse employees are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically 60 days.
What types of investment options are available in the Texas Roadhouse 401(k) plan?
The Texas Roadhouse 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Can Texas Roadhouse employees take loans against their 401(k) savings?
Yes, Texas Roadhouse employees may be able to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What is the vesting schedule for Texas Roadhouse's 401(k) matching contributions?
The vesting schedule for Texas Roadhouse's 401(k) matching contributions typically follows a graded vesting schedule, which means employees earn rights to the match over time.
How can Texas Roadhouse employees change their contribution percentage to the 401(k) plan?
Texas Roadhouse employees can change their contribution percentage by accessing their account online or by submitting a request through HR.
Are there any fees associated with the Texas Roadhouse 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Texas Roadhouse 401(k) plan, which are disclosed in the plan documents.
Can Texas Roadhouse employees roll over their 401(k) savings from a previous employer?
Yes, Texas Roadhouse employees can roll over their 401(k) savings from a previous employer into the Texas Roadhouse 401(k) plan, following the plan's rollover procedures.
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5. BenefitsPRO, 2017