Healthcare Provider Update: Fortive Corporation partners with various healthcare providers through its Advanced Healthcare Solutions segment, focusing on delivering mission-critical technologies for medical instruments and healthcare facilities. As of 2025, Fortive is well-positioned to navigate the anticipated shifts in healthcare costs and innovations related to connected workflows. Looking ahead to 2026, healthcare costs are expected to rise significantly, potentially impacting many American families. Record premium increases for Affordable Care Act (ACA) marketplace plans are projected, with some state premiums soaring by over 60%. This surge in costs is largely driven by higher medical expenses, the potential cessation of federal premium subsidies, and increased rates from major insurers. Without congressional action to extend these subsidies, many policyholders could see their premiums spike by up to 75%, highlighting the urgent need for consumers to prepare for these financial changes. 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 Fortive 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 Fortive 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 Fortive 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 Fortive 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 Fortive 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 Fortive, 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 type of retirement plan does Fortive offer to its employees?
Fortive offers a 401(k) retirement savings plan to help employees save for their future.
Does Fortive provide a company match for contributions made to the 401(k) plan?
Yes, Fortive provides a company match on employee contributions to the 401(k) plan, enhancing the overall savings potential.
What is the eligibility requirement to participate in Fortive's 401(k) plan?
Employees are eligible to participate in Fortive's 401(k) plan after completing a specified period of employment, typically 30 days.
Can employees at Fortive choose their contribution percentage to the 401(k) plan?
Yes, employees at Fortive can choose their contribution percentage, allowing for flexibility in saving according to their financial goals.
What investment options are available in Fortive's 401(k) plan?
Fortive's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can employees change their contribution amounts to Fortive's 401(k) plan?
Employees can change their contribution amounts to Fortive's 401(k) plan at any time, subject to plan rules and limits.
Does Fortive allow for loans against the 401(k) balance?
Yes, Fortive's 401(k) plan may allow employees to take loans against their balance, subject to specific terms and conditions.
What happens to my 401(k) account if I leave Fortive?
If you leave Fortive, you can choose to leave your funds in the plan, roll them over to another qualified plan, or withdraw them, subject to tax implications.
Is there a vesting schedule for Fortive's company match in the 401(k) plan?
Yes, Fortive has a vesting schedule for the company match, meaning employees must work for a certain period to fully own the matched contributions.
Can I access my Fortive 401(k) funds in case of financial hardship?
Yes, Fortive allows for hardship withdrawals under certain conditions, following IRS guidelines and plan rules.