Healthcare Provider Update: Healthcare Provider for Fiserv: Fiserv is engaging in the healthcare sector through its Clover platform, which is set to launch PracticePay in early 2026. This service aims to cater specifically to small and medium-sized healthcare providers, partnering with Rectangle Health to offer tailored payment solutions that comply with healthcare regulations. Potential Healthcare Cost Increases in 2026: As 2026 approaches, healthcare costs are expected to surge sharply, driven by multiple economic pressures. Insurers anticipate an average increase of 7.5% to 8.5% in individual and group medical costs, attributed to rising medical service expenses, labor shortages, and the potential termination of enhanced federal premium subsidies. Without intervention, many individuals enrolled in ACA plans may face premium hikes exceeding 75%, significantly affecting their out-of-pocket healthcare expenses and access to affordable coverage as we enter this challenging financial landscape. Click here to learn more
The idea of blending generations in the workplace and the pursuit of 'encore careers' provide a significant change in our understanding of the length and importance of our professional life in the work and career dynamics of today. Author and businessman Marc Freedman speaks eloquently about these subjects, highlighting the many advantages of working past conventional retirement age and the ways in which Fiserv professionals can reinvent themselves through fulfilling second careers.
The conversation between Christine Benz and Amy Arnott of Morningstar and Freedman reveals a thorough grasp of the social and individual ramifications of working later in life. Freedman, who managed a home with kids after surpassing the conventional retirement age, highlights the significant emotional and social advantages of long-term employment in addition to its financial necessity. He brings up a study conducted ten years ago that found retirees frequently miss the fruitful interactions and teamwork that come with working toward worthwhile objectives. This realization supports Freud's claim that the two most important aspects of being human are love and work, which provide us with a purpose to get out of bed in the morning and the thread that binds our social networks together.
The desire to prolong working life for Fiserv employees, however, is confronted with real obstacles, such as societal and infrastructure impediments that impede people's ability to smoothly enter this new stage of life. Freedman draws attention to the disparity that exists between the desire and reality of working longer hours. He emphasizes the necessity for additional supportive systems that facilitate older workers' entry and exit from the labor.
Innovative attempts to easing these transitions are exemplified by encouraging developments, like higher education programs tailored for individuals in their later years. Programs like the Encore Fellowship at Harvard and the Advanced Leadership Initiative provide a means for seasoned professionals to reevaluate their purpose, acquire fresh perspectives, and get ready for meaningful encore careers. Though specifically designed to meet the needs and goals of Fiserv individuals seeking to reinvent their later years, these programs are a reflection of the transitional support networks that have historically been accessible to young adults.
Maintaining a job at Fiserv well into old age has several advantages, including social interaction, financial security, and a strong feeling of purpose. Surgeon General Vivek Murthy's focus on the scourge of loneliness is addressed by research, which also highlights the fundamental connection between meaningful living and health. This research includes insights from the Blue Zones series. The workplace becomes a vital setting for building relationships and satisfying the human need for purposeful work, as Marge Piercy so eloquently puts it: 'The pitcher cries for water to carry and a person for work that is real.'
Prominent individuals such as Jimmy Carter, whose humanitarian endeavors after leaving the presidency exemplify the possibility of meaningful work later in life, serve as inspiration for Freedman's concept of the encore career. These professions frequently represent an evolution rather than a radical break from earlier work, building upon the knowledge, expertise, and interests cultivated throughout a lifetime. Gary Maxworthy is a prime example; driven by both a personal loss and a lifetime of experience in food distribution, he created the Farm to Family program, which greatly increased the caliber and amount of food that food banks could provide.
This story not only describes the 5 million Americans who are now pursuing encore careers, but it also suggests that society could utilize the talents of an additional 21 million people who make this shift a priority. These professionals' combined experience and knowledge constitute a powerful resource that, with proper mobilization, may have a significant positive impact on society.
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To sum up, the trend toward longer working lifespans and the desire for encore careers represents a more expansive vision for our career and personal paths. It promotes a social reassessment of the potential contributions of elder generations, highlighting the significance of establishing pathways for ongoing development, fulfillment, and contribution. We can change the way people think about work and retirement by implementing creative programs and providing strategic assistance. This will help to create a future in which Fiserv employees and the rest of the work force has the chance to pursue work that is both financially and personally fulfilling.
When considering career options after retirement from Fiserv, it's important to keep in mind that, according to a 2022 report from the Bureau of Labor Statistics, people 65 and older are expected to join the workforce at a rate that will increase faster than that of any other age group through 2030. This pattern highlights a change toward career participation in later life, indicating seniors' need and desire to continue being involved in the workforce. These figures demonstrate how retirement is changing, indicating that it is no more a definite conclusion to employment but rather a stage of transition for many people.
See retirement as the beginning of an exciting new chapter in a big, ongoing tale, rather than the end of a book. Retirement provides a rich environment for growth, change, and the cultivation of new endeavors for the modern professional, much like an experienced gardener doesn't just hang up their tools at the end of the season but instead starts planning for the next bloom. This can be viewed as a chance to gather the wealth of knowledge and experience accumulated over a lifetime and plant the seeds for a second career that will be personally fulfilling and contribute positively to society. Those entering this stage can combine their in-depth knowledge with novel endeavors, much like a gardener who understands that the best crops are produced through a combination of old and new ways. This will ensure that their legacy endures and influences future generations.
What is the primary purpose of Fiserv's 401(k) plan?
The primary purpose of Fiserv's 401(k) plan is to help employees save for retirement by providing a tax-advantaged savings vehicle.
How can Fiserv employees enroll in the 401(k) plan?
Fiserv employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does Fiserv offer matching contributions to its 401(k) plan?
Yes, Fiserv offers matching contributions to its 401(k) plan, which helps employees increase their retirement savings.
What types of investment options are available in Fiserv's 401(k) plan?
Fiserv's 401(k) plan typically offers a range of investment options, including mutual funds, target-date funds, and company stock.
What is the vesting schedule for Fiserv's 401(k) matching contributions?
The vesting schedule for Fiserv's 401(k) matching contributions may vary, so employees should refer to the plan documents for specific details.
Can Fiserv employees take loans against their 401(k) savings?
Yes, Fiserv employees may have the option to take loans against their 401(k) savings, subject to the plan's terms and conditions.
What is the minimum contribution percentage for Fiserv employees participating in the 401(k) plan?
The minimum contribution percentage for Fiserv employees is typically set at 1%, but employees are encouraged to contribute more to maximize their savings.
Are there any fees associated with Fiserv's 401(k) plan?
Yes, there may be fees associated with Fiserv's 401(k) plan, including administrative fees and investment management fees, which are disclosed in the plan documents.
How often can Fiserv employees change their contribution amounts?
Fiserv employees can change their contribution amounts at any time, subject to the plan's guidelines.
What happens to Fiserv employees' 401(k) savings if they leave the company?
If Fiserv employees leave the company, they can roll over their 401(k) savings to another retirement account, withdraw the funds, or leave the savings in the Fiserv plan if allowed.