New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

AvalonBay Communities Employees: Discover the Rising Trend of 'Work for Pleasure' in Your Retirement Journey

Healthcare Provider Update: Offers medical insurance through Aetna, dental via MetLife, and vision through VSP, with HSA and FSA options and wellness support from Lyra and Maven 1. As ACA premiums rise and subsidies expire, AvalonBays employer-sponsored plans with flexible spending and mental health support offer a more stable and cost-effective alternative to marketplace coverage Click here to learn more

A recent Fidelity Investments poll illuminates new trends in the ever-changing retirement planning landscape. Notably, 66% of respondents envision a phased-in approach to retirement, which deviates from the conventional full-stop strategy. This choice shows a shift towards flexible retirement solutions across generations, as evidenced by the significant interest shown by both Gen Zers and millennials.

The wide-ranging implications of this trend point to the necessity of flexibility in retirement advice and planning when preparing to retire from AvalonBay Communities. The departure from traditional retirement models highlights a more comprehensive reassessment of retirement goals and work-life balance, reflecting shifting perspectives toward the end of your AvalonBay Communities career. Advisors who want to fulfill their AvalonBay Communities clients' complex needs must have a thorough understanding of these preferences as retirement planning continues to change.

A growing number of retirees who desire social connection and intellectual stimulation in addition to financial security are adopting the idea of 'Work for Pleasure' in phased retirement, a viable option for AvalonBay Communities employees. According to an American Psychological Association study, continuing to work after retirement can enhance mental well-being, increase life satisfaction, and facilitate the transition to complete retirement. Retirement is now seen as a new chapter with opportunity for learning, growth, and contribution rather than as an end. This is especially true for seasoned professionals from high-ranking roles.

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Retirement is becoming less and less like the unexpected curtain call at the end of a play and more like a well planned art display. Similar to how an exhibition progressively moves from one theme and era to another, providing visitors with an extensive array of experiences, the modern retirement trip, as defined by Fidelity Investments, takes place in stages. With this method, people can combine the elegant brushstrokes of their personal passions and hobbies with their professional creations. Today's retirees and soon-to-be retirees find joy and fulfillment in doing work that pleases them, much like an artist who paints for the love of art even after their formal career has concluded. This is creating a retirement experience that is as nuanced and fulfilling as a well-curated gallery.

What is the 401(k) plan offered by AvalonBay Communities?

The 401(k) plan offered by AvalonBay Communities is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

Does AvalonBay Communities match employee contributions to the 401(k) plan?

Yes, AvalonBay Communities offers a matching contribution to employee 401(k) contributions, helping employees save more for retirement.

What is the maximum contribution limit for the AvalonBay Communities 401(k) plan?

The maximum contribution limit for the AvalonBay Communities 401(k) plan follows the IRS guidelines, which are updated annually.

When can employees of AvalonBay Communities enroll in the 401(k) plan?

Employees of AvalonBay Communities can enroll in the 401(k) plan during their initial eligibility period, which is typically upon hire or during an open enrollment period.

What investment options are available in the AvalonBay Communities 401(k) plan?

The AvalonBay Communities 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How can employees of AvalonBay Communities access their 401(k) account information?

Employees of AvalonBay Communities can access their 401(k) account information through the plan's online portal or by contacting the plan administrator.

Is there a vesting schedule for the employer match in the AvalonBay Communities 401(k) plan?

Yes, AvalonBay Communities has a vesting schedule for the employer match, which determines how much of the matching contributions employees are entitled to based on their years of service.

Can employees of AvalonBay Communities take loans against their 401(k) savings?

Yes, employees of AvalonBay Communities may be able to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What happens to my AvalonBay Communities 401(k) if I leave the company?

If you leave AvalonBay Communities, you have several options for your 401(k), including rolling it over to an IRA or another employer's plan, or cashing it out.

Are there any fees associated with the AvalonBay Communities 401(k) plan?

Yes, there may be fees associated with the AvalonBay Communities 401(k) plan, which can include administrative fees and investment-related fees.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

AvalonBay Communities recently announced a restructuring plan involving a reduction in workforce due to a slowdown in real estate market growth. This move aims to streamline operations and reduce costs.

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For more information you can reach the plan administrator for AvalonBay Communities at 4040 Wilson Blvd Arlington, VA 22203; or by calling them at +1 703-329-6300.