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Guess Employees: Discover the Secrets to a Happy Retirement

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Healthcare Provider Update: Healthcare Provider for Guess Guess, the renowned apparel and accessories brand, typically partners with national health insurance providers like UnitedHealthcare for employee healthcare coverage. Such partnerships enable them to offer comprehensive health plans to their employees, ensuring access to a wide network of healthcare services. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are projected to rise sharply, presenting significant challenges for consumers and businesses alike. Factors contributing to this surge include the anticipated expiration of enhanced ACA premium subsidies, which could lead to out-of-pocket premium increases exceeding 75% for many policyholders. Additionally, ongoing inflation in the medical sector, driven by escalating costs in hospital services, labor shortages, and increased drug prices, further complicates the financial landscape. As healthcare providers and insurers navigate these pressures, consumers may find themselves facing unprecedented cost burdens unless proactive measures are taken to mitigate the impact. Click here to learn more

It was once mentioned by the Dalai Lama, 'The purpose of our lives is to be happy.' This idea becomes particularly important after one is retired, when many people believe they have finally 'lived their best life.'  Eighty-three percent of pre-retirees hope to have a fulfilling retirement, according to an Empower white paper. Although studies indicate that retired people are happier than non-retirees, it's important to realize that happiness in retirement is more than simply a feeling; it's about discovering meaning and purpose in life.

Developing a Vision for a Joyful Retirement

According to psychologists, happiness is the result of a stronger sense of fulfillment and purpose in life combined with the experience of happy emotions. It's about looking at our lives holistically rather than concentrating on fleeting emotions. Participating in activities that give life purpose is crucial to retirement satisfaction. These are a few tactics supported by research to encourage connection, purpose, and well-being in retirement for Guess employees.

  1. Develop Interactions

Since humans are social creatures by nature, connections have a big influence on our well-being. According to Harvard's decades-long happiness study, having strong relationships is more important for long-term happiness than having money or celebrity. Social interactions tend to decrease after retirement. To combat this, take advantage of retirement to grow your social circle. Participate in Guess-sponsored events, see family, and reestablish old friendships. Your ability to have a happy retirement depends on how and with whom you choose to spend your time.

  1. Continue Your Physical Activity

The advantages of physical activity are widely established, and these advantages include improved mood and overall health. Studies indicate that retired people tend to be healthier. Being physically active doesn't have to entail going to the gym every day. Physical activity is a natural part of daily life in 'blue zones,' areas where residents live longer and are happier. Instead of following traditional workout regimens, Dan Buettner and his colleagues discovered that individuals in these places prefer to use manual equipment, knead bread by hand, and engage in gardening.

  1. Continue to Have a Goal in Mind

Even if your work wasn't enjoyable, it probably gave you a sense of purpose that went beyond material gain. Living longer, better, and happier lives is associated with having a strong sense of purpose. There are many other ways to find meaning in life, including through pastimes, travel, family time, and even pet ownership. A more meaningful life might result from concentrating on your priorities through connections and activities that are significant to you.

  1. Perform Deeds of Service

Contributing to others is a major source of meaning and has a big effect on happiness. Givers—whether they give of their time, money, or energy—generally have better lives than takers.  According to a survey, approximately 70% of retirees believe that giving to others is a key factor in their retirement satisfaction.  Making yearly donations or volunteering at neighborhood shelters can have a profound positive impact on people's lives as well as your own sense of fulfillment.

  1. Consult a Financial Specialist

Although it can't purchase happiness, having money helps, especially in retirement. It's crucial to plan for your financial future so that you can support your lifestyle without running out of money.  A research found that more Americans worry about outliving their savings than about dying. A lot of decision-making goes into retirement planning, including mortgage payments and withdrawal rates. Consulting with a financial expert can be helpful.   According to a 2021 study, folks who have financial counselors are three times happier than those who don't.

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  1. Foster an Inquiry Mind

Author and financial advisor Wes Moss polled about 2,000 American homes that were approaching or had reached retirement. He found that the most contented retirees were inquisitive about novel 'core pursuits' or intense pastimes. They typically have four main interests. You can expand your horizons when you're retired.  As Zen Buddhists put it, adopting a 'beginner's mind' entails viewing new experiences with an open mind and an open viewpoint. This method places more weight on the experience than the result. Acquiring new abilities, like picking up a new language or sport, can greatly increase happiness.

  1. Strengthen Your Emotional Acumen

Retirement means big changes, and it takes high emotional intelligence (EQ) to adjust to these changes. EQ is the ability to identify and control your own emotions as well as those of others. It also entails encouraging introspection and creating constructive coping mechanisms. Numerous studies have demonstrated that higher EQ is linked to happier lives, highlighting the significance of EQ in efficiently managing the obstacles of retirement.

  1. Accept Satisfaction

As one gets older, happiness tends to rise. Research shows that older persons tend to be happier more of the time, probably because they understand that time is limited and prioritize living in the moment. This change is consistent with research showing a substantial relationship between happiness and thankfulness. This kind of thinking can be promoted by engaging in activities like journaling or meditation that cultivate presence and thankfulness. Happiness, according to American naturalist and philosopher Henry David Thoreau, 'is like a butterfly; the more you chase it, the more it will evade you, but if you notice the other things around you, it will gently come and sit on your shoulder.' Thoreau's quote captures this idea.

Take part in happy and fulfilling activities, such as going to dinner with loved ones, attending Guess-sponsored events, taking up a part-time job, or volunteering at a charity that you are passionate about. Happiness is likely to follow if you do this. Even in the unlikely event that it doesn't, your efforts help make the world a happier place.

In Summary

Having enough money is not the only requirement for a happy and meaningful retirement. It necessitates fostering relationships, being busy, having a purpose, volunteering, collaborating with financial experts, developing curiosity, boosting emotional intelligence, and embracing contentment. Guess employees can make sure that their retirement is not just enjoyable but also extremely meaningful and fulfilling by concentrating on these areas.

According to recent research, pursuing lifelong learning can greatly increase retirement pleasure. According to a National Institute on Aging (NIA) research released in April 2023, retirees who pursue lifelong learning opportunities or acquire new skills report improved cognitive function and increased levels of life satisfaction. Participating in events like workshops, online courses, or book clubs can stimulate the intellect and provide a feeling of achievement and direction, which can lead to a more contented retirement.

Consider your retirement a well-manicured garden. Similar to how a healthy garden needs a range of plants, thoughtful design, and consistent upkeep, retirement happiness entails tending to several facets of life. Good relationships are necessary for growth, just like fertile soil. Sun and water are the fuels of vitality and new experiences; staying interested and active are these. Like a strong garden fence, financial planning offers structure and stability. The beneficial insects improve the environment in the garden and perform acts of service. Your retirement garden will flourish with happiness and fulfillment if you give each component the care and attention it deserves.

What type of retirement savings plan does Guess offer to its employees?

Guess offers a 401(k) retirement savings plan to help employees save for their future.

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

Yes, Guess provides a matching contribution to employees who participate in the 401(k) plan, up to a certain percentage.

What is the eligibility requirement to participate in Guess's 401(k) plan?

Employees at Guess are eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.

Can employees at Guess contribute to their 401(k) plan through payroll deductions?

Yes, employees at Guess can make contributions to their 401(k) plan through convenient payroll deductions.

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

The maximum contribution limit for the Guess 401(k) plan is in accordance with IRS regulations, which may change annually.

Does Guess allow employees to take loans from their 401(k) accounts?

Yes, Guess allows employees to take loans from their 401(k) accounts under certain conditions.

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

The Guess 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.

How can employees at Guess access their 401(k) account information?

Employees at Guess 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 Guess 401(k) plan?

Yes, there is a vesting schedule for the employer match in the Guess 401(k) plan, which outlines how long employees must work to fully own the employer contributions.

Can employees at Guess change their contribution percentage to the 401(k) plan?

Yes, employees at Guess can change their contribution percentage at any time, subject to plan rules.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
For Guess, Inc., the company's 401(k) plan is known as the "Guess, Inc. 401(k) Plan and Trust." As of 2022, this plan had 4,049 participants, with an average account balance of $20,076 per participant. The estimated average employee contribution in 2022 was $1,269. The 401(k) plan is structured to allow employees to defer a portion of their wages into individual retirement accounts, which are excluded from the employee's taxable income. In terms of eligibility for the 401(k) plan, employees must be 21 years of age and have completed one year of service to participate. The plan also includes a matching contribution from Guess, Inc., although the specifics of the match (e.g., percentage of employee contributions matched) were not detailed in the available sources. Regarding the pension plan, Guess, Inc. offers a defined contribution plan rather than a traditional defined benefit pension plan. This plan allows the company to contribute to individual employee retirement accounts, with the contributions being subject to IRS limits. The company’s contributions are discretionary and are determined by the financial performance of the company. For detailed operational compliance, such as plan amendments, the Guess, Inc. plan is governed by the SECURE 2.0 Act requirements, which introduced new rules regarding catch-up contributions and eligibility for part-time employees starting in 2024.
Restructuring Layoffs: Guess announced restructuring plans in 2023 and 2024 due to declining sales and economic pressure from inflation. The company has laid off numerous employees across various departments as part of this restructuring to streamline operations and reduce costs. These layoffs are crucial to address due to the unstable economic environment, which has impacted consumer behavior and purchasing power. With tax changes also coming into play, these layoffs allow Guess to preserve its financial stability and adapt to a fluctuating market​
Company A offered stock options and RSUs to its senior executives and certain key employees. In 2022, the stock options had a four-year vesting schedule with annual vesting. The RSUs granted in 2023 were subject to performance-based criteria. (Source: 10-K Report, Page 42)
Guess has been actively enhancing its employee wellness and health benefits as part of its broader Environmental, Social, and Governance (ESG) strategy. The company's initiatives include expanding wellness and mental health programming, which is set to be fully integrated by 2025. This expansion aims to address the growing need for mental health support among employees, which aligns with their goal of fostering a diverse, inclusive, and connected workplace. In addition to mental health initiatives, Guess is also working on gender pay parity and promoting wellness through various programs, such as mandatory management training on harassment prevention. These efforts are part of a broader commitment to employee well-being, which has been consistently highlighted in their ESG reports. Specific healthcare-related terms and acronyms that Guess focuses on include mental health programming, gender pay parity, and wellness programs, which are key aspects of their strategy to maintain a healthy and supportive work environment.
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