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

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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 Clorox. 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 Clorox career. Advisors who want to fulfill their Clorox 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 Clorox 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 Clorox 401(k) plan?

The Clorox 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How can I enroll in the Clorox 401(k) plan?

Employees can enroll in the Clorox 401(k) plan by accessing the benefits portal or contacting the HR department for guidance on the enrollment process.

What is the employer match for the Clorox 401(k) plan?

Clorox offers a competitive employer match for contributions made to the 401(k) plan, which can significantly enhance your retirement savings.

At what age can I start contributing to the Clorox 401(k) plan?

Employees can start contributing to the Clorox 401(k) plan as soon as they are eligible, typically upon hire or after a specified waiting period.

How much can I contribute to the Clorox 401(k) plan each year?

The contribution limits for the Clorox 401(k) plan are set according to IRS guidelines, which may change annually. Employees should check the latest limits for the current year.

Does Clorox offer a Roth 401(k) option?

Yes, Clorox provides a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

Can I take a loan from my Clorox 401(k) plan?

Yes, Clorox allows employees to take loans from their 401(k) accounts under certain conditions, subject to plan rules.

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

The Clorox 401(k) plan offers a range of investment options, including mutual funds and target-date funds, allowing employees to choose based on their risk tolerance.

How often can I change my contributions to the Clorox 401(k) plan?

Employees can change their contribution amounts to the Clorox 401(k) plan at any time, subject to the plan’s specific guidelines.

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

If you leave Clorox, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Clorox plan if eligible.

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

Clorox announced a restructuring plan involving a 10% reduction in its workforce to streamline operations and reduce costs. The company also updated its pension plan to freeze accruals for employees hired after 2024 and is adjusting 401(k) matching contributions.