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Discover the Best Places for Hasbro Employees to Retire in New England

Despite New England's reputation for high living costs, difficult tax laws, and harsh winters, this region continues to attract retirees with its beautiful seasons and rich historical backdrop. According to a national movers research conducted annually by United Van Lines, Vermont and Rhode Island were the most popular retirement locations in the United States in 2023. This realization inspires a closer look at the area's retirement appeal, considering factors such as cost of living, safety, access to healthcare, and cultural vibrancy, especially for Hasbro employees.

Connecticut: The Twofold Allure of Middletown

Beginning in Connecticut, Middletown, with an average family income of $90,731, is a prime example of the typical high-cost Northeastern municipality. The average income for residents 65 years of age and above is $47,599. Despite these figures, Middletown continues to attract retirees, especially because of its connection to Wesleyan University. By providing low-cost and free educational options through the Wesleyan Institute for Lifelong Learning, the university enriches the town's cultural landscape. With violent crime rates at a low 0.99 per 1,000 population, this area is significantly safer than nearby Hartford, where rates are 5.68 per 1,000.

Maine: The Urban Charm of Portland Amid Natural Magnificence

Portland, Maine, offers a desirable blend of access to the outdoors and metropolitan conveniences. Its downtown is lively, home to theaters, museums, and a wide variety of restaurants. The famous L.L. Bean store in Freeport, which is near the city, attracts both residents and visitors. In addition to beaches, the area provides winter sports like cross-country skiing and snowshoeing, as well as outdoor pursuits like fishing and kayaking, making it an attractive spot for Hasbro employees seeking an active retirement.

Massachusetts: The Affordability of Pittsfield in a Cultural Center

In an otherwise pricey state, Pittsfield, Massachusetts, offers a more affordable option. The cost of living in the town is significantly less than that of large cities like Cambridge and Boston. Here, the average home value is $282,706, substantially less than the statewide average. Pittsfield is also known for its vibrant cultural environment, further enhanced by neighboring establishments like the Tanglewood Music Center and MASS MoCA.

Laconia, New Hampshire: Lakeside Living

With Gunstock Mountain Resort close by, Laconia, New Hampshire, nestled between Lake Winnipesaukee and Winnisquam Lake, offers a wealth of recreational possibilities. The local crime rate reflects the low state average of 1.26 crimes per 1,000 residents. Notable tax perks also exist here; New Hampshire grants exemptions from the state's interest and dividend taxes in addition to not taxing Social Security benefits, making it an attractive location for Hasbro retirees.

Rhode Island: The Creative and Intellectual Offerings of Providence

For retirees engaged in creative and intellectual endeavors, Providence, Rhode Island, is a notable destination. The city is home to the Rhode Island School of Design and Brown University, and it boasts a booming restaurant scene, numerous cultural events, and educational options. With Providence's average home value of $382,032 and the state's average effective property tax rate of 1.53%, retirees should exercise caution when considering the state's higher-than-average property tax rates.

Vermont: The Academically Rich and Eco-Friendly Burlington Environment

Nestled on the shores of Lake Champlain, Burlington, Vermont, is popular among environmentally conscious retirees due to its thriving local food movement and establishments such as Seventh Generation. Numerous outdoor activities, including biking, hiking, and water sports, are available in the city. Vermont is financially challenging due to its high taxes and cost of living. In Burlington, the average home value is $512,485, and nursing home costs are very high. Nonetheless, a significant educational benefit is added by the University of Vermont, which grants free tuition to state residents 65 and older, a great perk for Hasbro employees seeking continued learning.

Decisions Driven by Data

These decisions are supported by thorough data analysis:

Costs of living information is sourced from Payscale.com.

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Point2homes.com provides average income figures for those 65 years of age and above.
The U.S. Census Bureau provides information on healthcare facilities, household incomes, and poverty rates.
The scores for physical and community well-being are from Sharecare and Gallup, components of the larger Gallup-Sharecare Well-Being Index.

This comprehensive analysis of retirement locations in New England reveals a complex yet alluring world for seniors. When weighing economic and safety factors against cultural diversity, scenic beauty, and educational options, New England presents a compelling option for Hasbro employees seeking a rewarding post-retirement lifestyle.

New England boasts some of the best healthcare facilities in the country, an important consideration for retirees. Boston's Massachusetts General Hospital ranked among the country's top five hospitals in U.S. News & World Report's 2023 rankings. For retirees who place a high value on their health and wellness, proximity to first-rate medical care ensures access to excellent healthcare services as they age.

Choosing the right retirement location in New England is akin to selecting a fine vintage wine. Retirees appreciate Middletown, Portland, Pittsfield, Laconia, Providence, and Burlington for their rich cultural offerings, historical significance, and tranquil landscapes, just as a connoisseur values a wine's complex flavors, elegant aging process, and regional characteristics. Each location promises a fulfilling retirement with its own balance of safety, healthcare accessibility, and recreational options, making them excellent choices for Hasbro employees.

What is Hasbro's 401(k) plan?

Hasbro's 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax or after-tax basis for retirement.

How does Hasbro match employee contributions to the 401(k) plan?

Hasbro offers a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.

When can employees at Hasbro start contributing to the 401(k) plan?

Employees at Hasbro can begin contributing to the 401(k) plan after completing their initial eligibility period, which is typically outlined in the employee handbook.

What investment options are available in Hasbro's 401(k) plan?

Hasbro's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees grow their retirement savings.

Can employees at Hasbro take loans against their 401(k) savings?

Yes, Hasbro allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan document.

What happens to my 401(k) plan if I leave Hasbro?

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

Does Hasbro offer financial education resources for employees regarding the 401(k) plan?

Yes, Hasbro provides financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

Are there any fees associated with Hasbro's 401(k) plan?

Yes, Hasbro's 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents provided to employees.

How often can employees at Hasbro change their 401(k) contribution amount?

Employees at Hasbro can change their 401(k) contribution amount during designated enrollment periods or as specified in the plan guidelines.

What is the vesting schedule for Hasbro's 401(k) matching contributions?

Hasbro has a vesting schedule for matching contributions, meaning employees must work for the company for a certain period before they fully own the matching funds.

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

Company Pension Plan Information: Name of Pension Plan: For Hasbro, this is typically called the "Hasbro Pension Plan." Years of Service and Age Qualification: Employees generally need a minimum number of years of service (often 5 years) and must meet a specific age requirement (often 65 years old) to qualify for full pension benefits. The exact details can vary, so I will verify these specifics. 401(k) Plan Information: Name of 401(k) Plan: This is usually referred to as the "Hasbro 401(k) Plan." Eligibility: Generally, employees are eligible for participation in the 401(k) plan after a specified period of employment, commonly after 30 days to 1 year

Restructuring and Layoffs: In early 2023, Hasbro announced a significant restructuring plan involving a workforce reduction of about 15% to streamline operations and reduce costs. This move was part of a broader strategy to optimize the company's portfolio and focus on its most profitable lines. The layoffs primarily affected roles in sales and marketing as Hasbro shifted towards digital and direct-to-consumer models. Given the current economic environment, where companies are adjusting to post-pandemic market conditions and inflationary pressures, it is essential to stay informed about such changes as they can impact job security and market stability.

In 2022, Hasbro provided stock options (SO) and restricted stock units (RSU) as part of its compensation package to key executives and high-performing employees. The stock options had a vesting schedule over several years, while RSUs were typically granted with a performance or time-based vesting period

Healthcare Benefits (2022-2024): Hasbro offers a comprehensive benefits package, including health insurance plans (medical, dental, and vision), wellness programs, and mental health support. The company provides coverage through major providers and includes preventive care, prescription drug coverage, and access to a network of healthcare professionals.

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For more information you can reach the plan administrator for Hasbro at , ; or by calling them at .

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