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Preparing for retirement at Atlas Air Worldwide Holdings can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. Research shows that 31% of women are currently or have been caregivers during their careers. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 30% less to their retirement accounts than men.
These numbers may seem overwhelming, but you don’t have to be a statistic. With a little foresight, you can start taking steps now, which may help you in the long run. Here are three steps to consider that may put Atlas Air Worldwide Holdings employees ahead of the curve.
- Talk about money. Nowadays, discussing money is less taboo than it’s been in the past, and it’s crucial to take control of your financial future. If you’re single, consider writing down your retirement goals and keeping them readily accessible. If you have a partner, make sure you are both on the same page regarding your retirement goals. The more comfortably you can talk about your future, the more confident you may be to make important decisions when they come up.
- Be proactive about your retirement after Atlas Air Worldwide Holdings. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Atlas Air Worldwide Holdings retirement accounts stand today? Being proactive with your Atlas Air Worldwide Holdings retirement accounts allows you to create a goal-oriented roadmap. It may also help to adapt when necessary and continue their journey regardless of things like relationship status or market fluctuations.
- Make room for your future in your budget. Adjust your budget to allow for retirement savings, just as you would for a new home or your dream vacation. Like any of your other financial goals, you may find it beneficial to review your retirement goals on a regular basis to make sure you’re on track.
- Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.
- Transamerica.com, 2021
- GAO.gov, 2021
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What type of retirement plan does Atlas Air Worldwide Holdings offer to its employees?
Atlas Air Worldwide Holdings offers a 401(k) retirement savings plan to its employees.
Does Atlas Air Worldwide Holdings provide a company match for contributions made to the 401(k) plan?
Yes, Atlas Air Worldwide Holdings provides a company match for employee contributions to the 401(k) plan, subject to specific limits.
What is the eligibility requirement for employees to participate in the Atlas Air Worldwide Holdings 401(k) plan?
Employees of Atlas Air Worldwide Holdings are typically eligible to participate in the 401(k) plan after completing a specified period of service.
How can employees of Atlas Air Worldwide Holdings enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What types of investment options are available in the Atlas Air Worldwide Holdings 401(k) plan?
The 401(k) plan at Atlas Air Worldwide Holdings offers a variety of investment options, including mutual funds, stocks, and bonds.
Can employees of Atlas Air Worldwide Holdings change their contribution percentage to the 401(k) plan?
Yes, employees can change their contribution percentage at any time, subject to the plan's guidelines.
What is the maximum contribution limit for the Atlas Air Worldwide Holdings 401(k) plan?
The maximum contribution limit for the Atlas Air Worldwide Holdings 401(k) plan aligns with the IRS annual contribution limits, which may change each year.
Does Atlas Air Worldwide Holdings allow for catch-up contributions in the 401(k) plan?
Yes, employees aged 50 and older at Atlas Air Worldwide Holdings can make catch-up contributions to their 401(k) plan.
What happens to the 401(k) plan if an employee leaves Atlas Air Worldwide Holdings?
If an employee leaves Atlas Air Worldwide Holdings, they can roll over their 401(k) balance to another retirement account or leave it in the plan, depending on the plan's rules.
Are loans available from the Atlas Air Worldwide Holdings 401(k) plan?
Yes, Atlas Air Worldwide Holdings allows employees to take loans from their 401(k) accounts under certain conditions.