Healthcare Provider Update: Provides medical coverage through Cigna and Kaiser Permanente, along with dental, vision, FSAs, HSAs, and voluntary benefits like critical illness and accident insurance 2. With ACA insurers requesting double-digit hikes, Matsons flexible plan options and tax-advantaged accounts offer a stable alternative to increasingly expensive 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 Matson. 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 Matson career. Advisors who want to fulfill their Matson 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 Matson 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 type of retirement plan does Matson offer to its employees?
Matson offers a 401(k) retirement savings plan to its employees.
Does Matson provide any employer match contributions to the 401(k) plan?
Yes, Matson offers an employer match on employee contributions to the 401(k) plan, subject to certain limits.
What is the eligibility requirement for Matson employees to participate in the 401(k) plan?
Employees of Matson are typically eligible to participate in the 401(k) plan after completing a specified period of service, which is outlined in the plan documents.
Can Matson employees make pre-tax contributions to their 401(k) accounts?
Yes, Matson employees can make pre-tax contributions to their 401(k) accounts, reducing their taxable income.
Are there any Roth contribution options available in Matson's 401(k) plan?
Yes, Matson offers a Roth 401(k) option, allowing employees to make after-tax contributions.
What investment options are available in Matson's 401(k) plan?
Matson's 401(k) plan includes a variety of investment options, such as mutual funds and target-date funds, allowing employees to choose according to their risk tolerance.
How often can Matson employees change their contribution amounts to the 401(k) plan?
Matson employees can change their contribution amounts to the 401(k) plan on a regular basis, typically during open enrollment periods or as specified in the plan guidelines.
What is the vesting schedule for Matson's employer match contributions in the 401(k) plan?
The vesting schedule for Matson's employer match contributions may vary, but it generally requires employees to work for a certain number of years before becoming fully vested.
Can Matson employees take loans against their 401(k) savings?
Yes, Matson allows employees to take loans against their 401(k) savings, subject to the terms and conditions of the plan.
What happens to Matson employees' 401(k) accounts if they leave the company?
If Matson employees leave the company, they have several options for their 401(k) accounts, including rolling over the balance to another retirement account or leaving it with Matson.