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 Twitter.
1. Mental Benefits
Working during your Twitter 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 Twitter 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 Twitter 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 Twitter.
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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 is the 401(k) plan offered by Twitter?
The 401(k) plan at Twitter is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How does Twitter match employee contributions to the 401(k) plan?
Twitter offers a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions up to a certain limit.
Can employees at Twitter choose how much to contribute to their 401(k) plan?
Yes, employees at Twitter can choose to contribute a percentage of their salary to their 401(k) plan, within the limits set by the IRS.
What investment options are available in Twitter's 401(k) plan?
Twitter's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to tailor their investment strategy.
When can Twitter employees start contributing to the 401(k) plan?
Employees at Twitter can typically start contributing to the 401(k) plan after completing their initial onboarding period.
Does Twitter allow employees to take loans against their 401(k) savings?
Yes, Twitter allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What happens to my 401(k) plan if I leave Twitter?
If you leave Twitter, you can choose to roll over your 401(k) balance to a new employer’s plan, an IRA, or cash it out, though cashing out may have tax implications.
Is there a vesting schedule for Twitter's 401(k) match?
Yes, Twitter has a vesting schedule for the matching contributions, meaning employees must work for a certain period before they fully own the matched funds.
How can Twitter employees access their 401(k) account information?
Twitter employees can access their 401(k) account information through the online portal provided by the plan administrator.
Are there any fees associated with Twitter's 401(k) plan?
Yes, there may be administrative fees and investment fees associated with Twitter's 401(k) plan, which are disclosed in the plan documents.
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5. BenefitsPRO, 2017