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Empowering Women at F5: 4 Essential Retirement Strategies to Consider

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Preparing for retirement at F5 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 F5 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 F5. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your F5 retirement accounts stand today? Being proactive with your F5 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 F5 offer to its employees?

F5 offers a 401(k) retirement savings plan to help employees save for their future.

Does F5 match employee contributions to the 401(k) plan?

Yes, F5 provides a matching contribution to employee 401(k) accounts, subject to certain limits.

What is the eligibility requirement for F5 employees to participate in the 401(k) plan?

Employees of F5 are eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.

Can F5 employees choose how to invest their 401(k) contributions?

Yes, F5 employees can choose from a variety of investment options available within the 401(k) plan.

What is the maximum contribution limit for F5 employees under the 401(k) plan?

The maximum contribution limit for F5 employees is determined by the IRS and may change annually. Employees should check the latest IRS guidelines for the current limit.

Does F5 allow for catch-up contributions in the 401(k) plan?

Yes, F5 allows employees who are age 50 or older to make catch-up contributions to their 401(k) accounts.

How often can F5 employees change their 401(k) contribution amounts?

F5 employees can change their 401(k) contribution amounts at designated times throughout the year, typically during open enrollment or upon certain life events.

What happens to my 401(k) account if I leave F5?

If you leave F5, you can either leave your 401(k) account with F5, roll it over to another retirement account, or withdraw the funds, subject to tax implications.

Is there a vesting schedule for F5's 401(k) matching contributions?

Yes, F5 has a vesting schedule for matching contributions, which means employees earn ownership of those funds over time.

Can F5 employees take loans against their 401(k) accounts?

Yes, F5 allows employees to take loans against their 401(k) accounts under certain conditions.

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

F5 offers a comprehensive retirement program consisting of both a defined contribution plan and a 401(k) plan for its employees. In 2023, F5's 401(k) plan includes a company match where employees can contribute up to the IRS maximum of $22,500, with an additional catch-up contribution of $7,500 for those aged 50 or older (F5, Inc.) (SHRM). The company provides a 50% match on the first $8,000 contributed by the employee (Investopedia). Regarding pension plans, F5 follows the corporate trend of focusing on defined contribution plans rather than traditional pensions. Although specific details on a corporate pension were not emphasized for F5, the company heavily promotes its 401(k) plan as a key retirement benefit for all eligible employees, who are automatically enrolled upon meeting eligibility criteria

Restructuring and Layoffs: In early 2024, F5 announced a significant restructuring plan aimed at streamlining operations and reducing costs. This move involved a reduction of approximately 10% of the global workforce. The decision was driven by the need to adapt to the changing market dynamics and enhance operational efficiency. This restructuring is crucial to address as it reflects broader industry trends and can have significant implications for employees and investors. The current economic environment, characterized by high inflation and market volatility, makes understanding these changes important for assessing investment risks and opportunities.

F5, Inc. (NASDAQ: FFIV) offers its employees stock-based compensation through various programs, including stock options and Restricted Stock Units (RSUs). F5's stock options and RSUs are made available to eligible employees, with stock-based compensation expenses categorized as part of their non-GAAP measures (F5 Investors) (F5, Inc.). F5’s RSUs and stock options are a key part of their compensation structure, incentivizing employees to contribute to the company’s growth. Stock options provide employees the opportunity to purchase shares at a fixed price (the strike price), whereas RSUs represent actual shares granted upon vesting, typically subject to a vesting period based on continued employment or performance milestones (F5 Investors). Eligible employees at F5, particularly those in management and key technical roles, often receive these awards as part of their compensation package

Company's Official Website: Visit F5's official website and look for their employee benefits section, often found under "Careers," "Employee Benefits," or "HR" pages. Glassdoor: Check Glassdoor for employee reviews about the company’s health benefits. Sometimes, employees provide insights into changes or updates to benefits. LinkedIn: Explore F5’s LinkedIn page for any updates or posts about employee benefits. Company updates or employee testimonials can be found here. Indeed: Search for F5 on Indeed, where past and current employees may discuss their experiences with the company’s health benefits. Benefits Websites: Websites like BenefitsPro, HR Dive, or SHRM (Society for Human Resource Management) may have articles or reports about F5's benefits and any recent changes.