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Healthcare Provider Update: KKR offers medical, dental, vision, mental health, and fertility benefits, along with wellness reimbursements and caregiver support 5. As ACA premiums surge, KKRs comprehensive benefits may help employees avoid the volatility and cost burden of marketplace plans. Click here to learn more
Preparing for retirement at KKR 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 KKR 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 KKR. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your KKR retirement accounts stand today? Being proactive with your KKR 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 KKR offer to its employees?
KKR offers a 401(k) retirement savings plan to its employees.
How can KKR employees enroll in the 401(k) plan?
KKR employees can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal.
Does KKR match employee contributions to the 401(k) plan?
Yes, KKR provides a matching contribution to employees' 401(k) plans, subject to certain limits.
What is the maximum contribution limit for KKR employees in the 401(k) plan?
The maximum contribution limit for KKR employees in the 401(k) plan is determined by the IRS and may change annually.
Can KKR employees change their contribution percentage at any time?
Yes, KKR employees can change their contribution percentage at any time, subject to the plan’s guidelines.
What investment options are available in KKR's 401(k) plan?
KKR’s 401(k) plan offers a variety of investment options, including mutual funds and target-date funds.
Is there a vesting schedule for KKR's 401(k) matching contributions?
Yes, KKR has a vesting schedule for its matching contributions, which determines when employees fully own those funds.
Can KKR employees take loans against their 401(k) savings?
Yes, KKR employees may have the option to take loans against their 401(k) savings, depending on the plan’s rules.
What happens to KKR employees' 401(k) accounts if they leave the company?
If KKR employees leave the company, they can roll over their 401(k) accounts to another retirement account or leave them with KKR, subject to plan provisions.
Does KKR provide financial education resources for employees regarding their 401(k) plans?
Yes, KKR offers financial education resources to help employees understand and manage their 401(k) plans effectively.
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