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Empowering Women at Celanese: 4 Essential Retirement Strategies to Consider

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Preparing for retirement at Celanese 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 Celanese 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 Celanese. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Celanese retirement accounts stand today? Being proactive with your Celanese 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 is the purpose of the 401(k) Savings Plan at Celanese?

The purpose of the 401(k) Savings Plan at Celanese is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax or after-tax basis.

How does Celanese match employee contributions to the 401(k) Savings Plan?

Celanese offers a matching contribution to the 401(k) Savings Plan, where the company matches a percentage of employee contributions, helping to maximize retirement savings.

What types of investments are available in Celanese's 401(k) Savings Plan?

Celanese's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Can Celanese employees change their contribution percentage to the 401(k) Savings Plan?

Yes, Celanese employees can change their contribution percentage to the 401(k) Savings Plan at any time, subject to the plan's guidelines.

What is the vesting schedule for Celanese's 401(k) Savings Plan?

The vesting schedule for Celanese's 401(k) Savings Plan dictates how long employees must work for the company before they fully own the employer's matching contributions.

When can Celanese employees start contributing to the 401(k) Savings Plan?

Celanese employees can typically start contributing to the 401(k) Savings Plan after completing a certain period of employment, often within their first few months.

Does Celanese allow for loans against the 401(k) Savings Plan?

Yes, Celanese allows employees to take loans against their 401(k) Savings Plan balance, subject to specific terms and conditions outlined in the plan.

How can Celanese employees access their 401(k) Savings Plan account information?

Celanese employees can access their 401(k) Savings Plan account information through the company’s designated retirement plan website or by contacting the plan administrator.

Are there any fees associated with Celanese's 401(k) Savings Plan?

Yes, there may be fees associated with Celanese's 401(k) Savings Plan, which can include administrative fees and investment management fees, as outlined in the plan documents.

What happens to a Celanese employee's 401(k) Savings Plan if they leave the company?

If a Celanese employee leaves the company, they have several options regarding their 401(k) Savings Plan, including rolling it over to another retirement account, cashing it out, or leaving it with Celanese.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Celanese announced a restructuring plan that includes significant layoffs across its global operations. The company is focusing on streamlining its processes and reducing operational costs. This restructuring is part of a broader strategy to improve financial performance and efficiency.

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For more information you can reach the plan administrator for Celanese at 222 W. Las Colinas Blvd. Irving, TX 75039; or by calling them at +1 972-443-4000.