Healthcare Provider Update: Employees receive medical, prescription, dental, and vision coverage, with HSA contributions for high-deductible plans. The Med-Vantage Plan offers post-employment HRA contributions, making ACA planning relevant for retirees Click here to learn more
The contemporary era presents a myriad of stressors, from the unpredictable housing market to escalating grocery prices. Indeed, the intensity of stress an individual encounters can significantly hinge on their geographical location, as recent research reveals.
A comprehensive study conducted by WalletHub earlier in the year embarked on the ambitious task of ranking the “most and least stressed” states across the United States. This expansive report utilized a comparative analysis across the 50 states, examining them through the lens of 41 distinct metrics. These indicators encompassed a range of factors including the unemployment rate, income growth trajectory, separation and divorce rates, mental health statistics, and the affordability of medical consultations.
In order to distill these broad metrics into actionable insights for Eversource Energy professionals, the states were evaluated based on four primary dimensions of stress:
- Work-related stress,
- Financial stress,
- Family-related stress, and
- Health and safety-related stress.
This intricate analysis was fortified by data sourced from reputable institutions such as the U.S. Census Bureau, the Bureau of Labor Statistics, and the Centers for Disease Control and Prevention, among others.
In an intriguing revelation, the report not only provided a holistic stress ranking but also delved into specific categories like the average number of sleep hours residents get each night, the number of practicing psychologists per capita, and the average weekly work hours.
Mississippi emerged at the forefront of this study, unfortunately bearing the title of the most stressed state. It was particularly impacted by financial stress despite boasting the lowest cost of living in the country. Contrasting its affordable living, it faces challenges with educational attainment and workforce productivity, alongside having one of the most substantial rates of worker migration, as detailed by a CNBC report.
Conversely, the spectrum's other end highlighted states like Utah, Connecticut, and South Dakota, known for their comparatively low stress levels. Interestingly, states like Hawaii and Florida, often celebrated for their high happiness indices, did not feature in the top ten of this list.
Topping the chart as the epitome of tranquility was Minnesota, recognized as the least stressed state. Minnesotans reported minimal stress related to finances and family. Moreover, Minnesota was celebrated for offering its residents nearly the highest average sleep hours, trailing only behind Colorado. Famously referred to as the “Land of 10,000 Lakes,” Minnesota has also been acclaimed as one of the prime states for both living and professional engagement, as per CNBC’s annual assessment.
Following closely was Utah, securing the second position. Remarkably, Utah recorded the fewest work hours per week on average, a low poverty rate, and the nation’s lowest divorce statistics. In an adjunct study by WalletHub, Utah was distinguished as the happiest state, partly owing to its impressive volunteer rate standing at 40.7% - a stark contrast to Florida’s significantly lower rate.
New Hampshire consolidated the top three, standing out with the lowest proportion of adults in fair or poor health and an impressive average credit score of 729, as per CNBC Select. It boasts one of the lowest poverty and crime rates per capita. The city of Nashua in Hillsborough County, New Hampshire, in particular, enjoys the reputation of being the safest in the country, making it one of the state's most desirable living destinations, according to Niche. Further, Census Bureau data indicates that New Hampshire ranks among the wealthiest and most educated in the nation, enhanced by its lack of income tax on wages and sales tax.
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!
In an age where change is constant and often abrupt, savvy individuals and leaders understand the importance of adaptation and forward-thinking. CNBC's Evolve Global Summit, scheduled for November 2, offers a unique opportunity for insight into thriving in this dynamic business era. The summit promises strategies for adaptation, innovation, and success in contemporary business landscapes. Interested parties are encouraged to secure their participation by purchasing tickets through the appropriate channels.
A crucial aspect contributing to Minnesota's low stress levels, particularly relevant to Eversource Energy professionals nearing or in retirement, is the state's robust healthcare system. According to U.S. News & World Report (2021), Minnesota is ranked 3rd in healthcare access and 11th in healthcare quality nationwide, ensuring its residents, especially those in older demographics, have ample access to superior medical care. This accessibility is paramount for those transitioning from active working life, as they can rely on high-quality healthcare services, a factor significantly alleviating health-related stress often accompanying this life stage.
Stay informed and empowered in your personal and professional life by subscribing to our latest newsletter, a valuable resource for navigating modern complexities in finance, work, and everyday life.
Navigating the states of America in search of the ideal place to retire is akin to sifting through a box of assorted chocolates, each piece uniquely flavored with different fillings representing various lifestyle factors. Minnesota, in this assortment, is the coveted dark chocolate truffle — rich in quality healthcare, laden with the sweetness of plentiful sleep, and enrobed in the smooth texture of low financial and family-related stress. Just as dark chocolate is known for its health benefits and stress-reducing antioxidants, Minnesota offers a blend of life-enhancing qualities that melt away worries, making it the choice morsel for those seasoned professionals stepping away from their bustling Eversource Energy careers into a phase of life where tranquility and well-being become the ultimate luxury.
What is the Eversource Energy 401(k) Savings Plan?
The Eversource Energy 401(k) Savings Plan is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or after-tax basis, helping them build a financial foundation for retirement.
How can I enroll in the Eversource Energy 401(k) Savings Plan?
Employees can enroll in the Eversource Energy 401(k) Savings Plan through the company's benefits portal or by contacting the HR department for assistance.
What is the employer match for the Eversource Energy 401(k) Savings Plan?
Eversource Energy offers a competitive employer match to encourage employee participation in the 401(k) Savings Plan. Specific matching contributions can vary, so it's best to check the plan documentation for details.
Can I change my contribution rate to the Eversource Energy 401(k) Savings Plan?
Yes, employees can change their contribution rate to the Eversource Energy 401(k) Savings Plan at any time through the benefits portal or by contacting HR.
What investment options are available in the Eversource Energy 401(k) Savings Plan?
The Eversource Energy 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and company stock, allowing employees to tailor their investment strategy.
Is there a vesting schedule for the Eversource Energy 401(k) Savings Plan?
Yes, the Eversource Energy 401(k) Savings Plan has a vesting schedule for employer contributions. Employees should refer to the plan documents for specific details on the vesting timeline.
What happens to my Eversource Energy 401(k) Savings Plan if I leave the company?
If you leave Eversource Energy, you have several options regarding your 401(k) Savings Plan, including rolling over your balance to another retirement account, cashing out, or leaving it in the plan if permitted.
Can I take a loan from my Eversource Energy 401(k) Savings Plan?
Yes, Eversource Energy allows employees to take loans from their 401(k) Savings Plan, subject to certain conditions and limits. Employees should review the plan's loan policy for more information.
Are there hardship withdrawals available in the Eversource Energy 401(k) Savings Plan?
Yes, Eversource Energy permits hardship withdrawals from the 401(k) Savings Plan under specific circumstances. Employees must meet certain criteria to qualify for a hardship withdrawal.
How often can I review my Eversource Energy 401(k) Savings Plan statements?
Employees can review their Eversource Energy 401(k) Savings Plan statements quarterly, and they can also access their account information online at any time.