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Healthcare Provider Update: Williams provides medical coverage through UnitedHealthcare, including preventive care, chronic condition support, and fertility services. Employees also receive HSA contributions and access to FSAs 4. As ACA premiums surge, Williamss consumer-driven plans and wellness incentives offer a strong buffer against rising healthcare expenses. 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 Williams.
1. Mental Benefits
Working during your Williams 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 Williams 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 Williams 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 Williams.
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 types of retirement savings plans does Williams offer to its employees?
Williams offers a 401(k) retirement savings plan to help employees save for their future.
Does Williams match employee contributions to the 401(k) plan?
Yes, Williams provides a matching contribution to employee 401(k) plans, which enhances the overall savings potential.
What is the eligibility requirement for employees to participate in the Williams 401(k) plan?
Employees are typically eligible to participate in the Williams 401(k) plan after completing a specified period of employment, usually within the first year.
How can employees at Williams enroll in the 401(k) plan?
Employees can enroll in the Williams 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What investment options are available in the Williams 401(k) plan?
Williams offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.
How often can employees at Williams change their 401(k) contribution amount?
Employees at Williams can change their 401(k) contribution amount at any time, subject to plan guidelines.
Is there a vesting schedule for the employer match in the Williams 401(k) plan?
Yes, Williams has a vesting schedule for the employer match, which means employees must work for a certain period before they fully own the matched contributions.
Can employees take loans against their 401(k) balance at Williams?
Yes, employees at Williams may have the option to take loans against their 401(k) balance, subject to specific terms and conditions.
What happens to the 401(k) plan if an employee leaves Williams?
If an employee leaves Williams, they can either roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Williams plan if permitted.
Does Williams provide financial education resources for employees regarding the 401(k) plan?
Yes, Williams offers financial education resources and workshops to help employees make informed decisions about their 401(k) savings.
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5. BenefitsPRO, 2017