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Discover the Top 8 California Cities Perfect for Leggett & Platt Employees to Embrace Retirement Bliss

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California's diverse landscape, encompassing mountains, beaches, deserts, palm trees, national parks, and consistently sunny weather, has become a significant draw for Leggett & Platt retirees across the United States. The state's natural beauty and lifestyle options are a major attraction, despite the relatively high cost of living and housing expenses, especially in coastal areas. While California is known for its less favorable tax environment for Leggett & Platt retirees, many have strategically planned their finances to make the most of what the state has to offer.

To assist in Leggett & Platt retirement planning, we have compiled a comprehensive list of the best places to retire in California. This list, crafted with the expertise of local real estate professionals, balances various factors such as cost, environment, location, lifestyle, services, and healthcare.

1. Greater Palm Springs : Spanning nine cities, the Coachella Valley offers a variety of options for Leggett & Platt retirees, including numerous over-55 communities and new developments like Cotino in Rancho Mirage. The median price for a standard home here is around $580,000, with luxury homes in top country clubs averaging about $3.8 million. Palm Springs International Airport provides connectivity, and the cost of living is approximately 31% above the national average. The area also boasts excellent healthcare facilities.

2. Oxnard : This Ventura County city, located near Los Angeles, features beaches, farms, and historic sites. It's the gateway to the Channel Islands National Park and offers a rich cultural scene. The cost of living is about 54% above the national average, but affordable housing options are available, with entry-level homes starting between $350,000 to $600,000.

3. Paso Robles : Situated midway between Los Angeles and San Francisco, this region is known for its wineries, lakes, and hot springs. The median home price was $715,000 as of October 2023. It offers a blend of cultural richness and scenic beauty, with various community options for Leggett & Platt retirees, including new and affordable housing projects.

4. Torrance : Close to Los Angeles, Torrance is known for its health-focused lifestyle, beaches, and hiking trails. It was ranked among the best cities for retirees in America and one of the healthiest places to live. The median home price is around $1.1 million.

5. Lakeport : In Lake County, known for its excellent air quality and being one of the most affordable places in California, Lakeport offers outdoor activities and community events. The median home price is $339,000, with living costs and healthcare close to national averages.

6. Carmel-by-the-Sea : A picturesque town in Monterey County, it tops the list of best places to retire in California for 2023. The cost of living is 52% above the national average, with a median home price of $2.3 million. It offers a mix of cultural and outdoor activities.

7. Bakersfield : Known for its warm climate and outdoor activities, Bakersfield's cost of living is slightly below the national average. It's recognized for its dry summers, mild winters, and fresh local produce. The median home price is $439,000.

8. Carlsbad : In North San Diego County, Carlsbad is known for its beaches, cultural activities, and small-town atmosphere. While the cost of living is 55% above the national average, the area is appreciated for its natural beauty and healthcare facilities. The median home price is $978,500.

Each of these locations offers unique benefits and challenges, and the choice largely depends on personal preferences and financial considerations. These destinations reflect California's diverse offerings, from luxury options to more affordable, yet still enriching, retirement lifestyles.

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In addition to the picturesque locations and lifestyle amenities, many of these top Leggett & Platt retirement destinations in California offer robust senior community programs that focus on lifelong learning and enrichment. For instance, places like Carmel-by-the-Sea and Pasadena are home to institutions like community colleges and cultural centers that offer a variety of courses and workshops tailored for retirees. These programs often cover topics from local history to technology, appealing to the intellectually curious and socially active retiree. Engaging in such community-based educational programs not only enhances mental stimulation but also provides opportunities for social interaction, a key aspect of a fulfilling retirement. This aspect is particularly appealing to the target demographic of accomplished professionals and retirees who value continued learning and community engagement. (Source: AARP, 'Lifelong Learning Opportunities in Retirement Communities,' published in 2022).

Discover the best places to retire in California, a guide for those seeking a fulfilling and luxurious retirement lifestyle. Explore our expertly curated list of top retirement destinations, including Palm Springs, Oxnard, Paso Robles, Torrance, Lakeport, Carmel-by-the-Sea, Bakersfield, and Carlsbad. Each location offers unique benefits, from serene coastal living to vibrant cultural scenes, ensuring a rich and diverse Leggett & Platt retirement experience. Learn about the cost of living, healthcare facilities, and real estate options in these sought-after Californian locales. Ideal for discerning retirees who prioritize quality of life, natural beauty, and a range of activities in their golden years.

Choosing the perfect retirement spot in California is like selecting a fine wine from a prestigious vineyard. Just as a connoisseur appreciates the unique notes and qualities of a vintage, tailored to their palate, retirees can select from California's diverse locales, each offering distinct lifestyles and amenities. Palm Springs, with its vibrant outdoor culture, is akin to a bold Cabernet Sauvignon, full of flavor and depth. Oxnard's coastal serenity resembles a crisp Chardonnay, offering a refreshing and tranquil experience. The historical richness of Paso Robles mirrors a complex Merlot, while the bustling, health-focused lifestyle of Torrance is like a rejuvenating sparkling wine. Lakeport's affordability and natural beauty are comparable to a hidden gem of a Pinot Noir, offering quality without pretense. Carmel-by-the-Sea's artistic charm is akin to a sophisticated Bordeaux blend, rich and layered. Bakersfield, practical and sunny, is like a reliable Zinfandel, while Carlsbad's luxurious coastal living is reminiscent of a top-shelf Champagne. Just as each wine appeals to different tastes, these Californian destinations cater to various retirement dreams, ensuring a fulfilling and enriched golden era.

 

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
For Leggett & Platt, I have found specific details about the company's pension and 401(k) plans during 2022, 2023, and 2024. Leggett & Platt offers both a defined benefit pension plan and a 401(k) savings plan for their employees. The pension plan, known as the Defined Benefit Pension Plan, calculates benefits based on years of service and final average pay. Employees become vested in the pension after five years of service. The retirement age for full benefits is typically 65, though early retirement options with reduced benefits may be available starting at age 55. The pension benefit formula considers a percentage of the employee's highest consecutive five years of earnings multiplied by the years of credited service. For instance, the maximum benefit payable by Leggett & Platt’s defined benefit pension plan in 2022 was capped at $245,000 annually, and it increased to $265,000 in 2023 and $275,000 in 2024. In addition to the pension plan, Leggett & Platt offers a 401(k) plan called the Leggett & Platt Employee 401(k) Plan. Employees can contribute to the plan, with the company matching a portion of the contributions. The 401(k) plan allows participants to defer part of their salary pre-tax or post-tax into investment options provided by the plan. In 2022, the employee contribution limit for 401(k) plans was $20,500, which increased to $22,500 in 2023 and $23,000 in 2024. Employees over age 50 are eligible for catch-up contributions, which were $6,500 in 2022 and 2023 and increased to $7,500 in 2024​ (WCT Pension)​ (Pension Rights Center)​ (ICMARC)​ (Pension Rights Center).
In January 2024, Leggett & Platt announced a major restructuring plan involving the elimination of 900 to 1,000 jobs and the closure of 15 to 20 facilities. The restructuring primarily impacts the Bedding Products segment but also extends to Furniture, Flooring & Textile Products. The company plans to consolidate manufacturing and distribution operations from 50 to approximately 30-35 facilities, aiming to optimize efficiency and align capacity with market demand​
Leggett & Platt (LEG) offers both stock options and Restricted Stock Units (RSUs) as part of their employee benefit programs. These stock options and RSUs are designed to provide long-term incentives to employees, aligning their interests with the company's growth. The stock options are typically granted under the company's Incentive Stock Option Plan (ISO), which allows employees to purchase company shares at a set price after a vesting period. RSUs are granted as part of the company's Employee Stock Purchase Plan (ESPP), which provides employees with the opportunity to buy company shares at a discounted rate, subject to specific vesting schedules. In 2022, Leggett & Platt issued approximately 0.9 million shares through their employee benefit plans, reflecting their commitment to providing equity-based incentives. These shares were primarily distributed to senior executives and employees meeting specific eligibility criteria, typically based on job performance and tenure​ (Leggett & Platt). In 2023, the company continued its practice of issuing stock options and RSUs as part of its employee compensation program, focusing on key executives and senior management. Leggett & Platt is also known for regularly reviewing their stock option and RSU offerings to remain competitive in their industry. Eligible employees include those in management and key operational roles across their various business units​ (Leggett & Platt). The latest updates on stock options and RSUs for 2024 highlight Leggett & Platt's commitment to employee engagement and retention through these financial incentives. The company's stock incentive plans continue to be a significant part of their total compensation strategy, aiming to foster long-term growth and shareholder value. Employees eligible for these options are typically those in leadership positions, although the company occasionally extends these benefits to high-performing staff in critical roles​ (Leggett & Platt).
Leggett & Platt offers competitive health benefits to its employees, focusing on comprehensive coverage across medical, dental, and vision plans. In 2023, the company continued to provide its employees with self-insured health plans, which gives it greater control over managing healthcare costs while maintaining flexibility in the services offered. Employees benefit from coverage that includes preventive care, prescription drug services, and wellness programs aimed at improving overall health. Recent changes have seen an emphasis on preventive services and mental health support, reflecting broader industry trends. These developments align with the company's commitment to employee well-being, as they work to mitigate rising healthcare costs in a challenging economic environment​ (Leggett & Platt). In light of ongoing economic pressures and healthcare inflation, Leggett & Platt has adapted its healthcare benefits to ensure both competitiveness and sustainability. In 2024, the company introduced additional wellness initiatives, addressing concerns over healthcare cost increases that are anticipated across industries. The focus on mental health and preventive services is particularly critical given the current political and economic climate, where employee health is a growing priority for employers. By maintaining robust health benefits, Leggett & Platt seeks to attract and retain top talent while balancing the need for cost-effective solutions in a volatile market. These adjustments are particularly relevant in an era where political uncertainties and investment pressures are influencing corporate healthcare strategies​ (Leggett & Platt) .
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For more information you can reach the plan administrator for Leggett & Platt at , ; or by calling them at .

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