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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 TriNet Group.
1. Mental Benefits
Working during your TriNet 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 TriNet 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 TriNet 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 TriNet Group.
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- 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 savings plan does TriNet Group offer to its employees?
TriNet Group offers a 401(k) retirement savings plan to its employees.
Does TriNet Group match employee contributions to the 401(k) plan?
Yes, TriNet Group provides a matching contribution to employee 401(k) contributions, subject to specific limits.
What is the eligibility requirement for TriNet Group employees to participate in the 401(k) plan?
Employees of TriNet Group are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can TriNet Group employees choose how their 401(k) contributions are invested?
Yes, TriNet Group employees can choose from a variety of investment options for their 401(k) contributions.
What is the maximum contribution limit for TriNet Group’s 401(k) plan?
The maximum contribution limit for TriNet Group’s 401(k) plan is aligned with the IRS annual limits, which may change each year.
Are there any fees associated with TriNet Group’s 401(k) plan?
Yes, there may be administrative fees associated with TriNet Group’s 401(k) plan, which are disclosed in the plan documents.
How often can TriNet Group employees change their 401(k) contribution amounts?
TriNet Group employees can change their 401(k) contribution amounts on a regular basis, typically during designated enrollment periods or at any time as allowed by the plan.
What happens to my 401(k) balance if I leave TriNet Group?
If you leave TriNet Group, you can choose to roll over your 401(k) balance to another retirement account, cash out, or leave it in the TriNet Group plan if allowed.
Does TriNet Group offer loans against the 401(k) plan?
Yes, TriNet Group may offer the option for employees to take loans against their 401(k) balance, subject to specific terms and conditions.
How can TriNet Group employees access their 401(k) account information?
TriNet Group employees can access their 401(k) account information through the company’s designated retirement plan website or by contacting the plan administrator.
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5. BenefitsPRO, 2017