<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=314834185700910&amp;ev=PageView&amp;noscript=1">

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

Learn More

How CHS Employees Can Prevent Boredom from Ruining a Happy Retirement

image-table

Retirement is not the end of the road; it is the beginning of an open highway. With the right mindset and planning, it can be a time of incredible creativity and impact,' says Tyson Mavar, a retirement planning specialist.


Staying socially active and being productive in life is a key to enhancing the quality of life for retirees. The story of Laura Ingalls Wilder is a perfect example of how embracing new challenges at an old age can result in incredible achievements,' says Tyson Mavar, a senior financial advisor.

In this article, we will discuss:

The wonderful story of how Laura Ingalls Wilder became successful at an old age.

Strategies that CHS retirees can employ in order to make their retirement meaningful.

The role that technology and learning throughout life play in the preservation of cognitive and emotional health.

The author of the 'Little House on the Prairie' books, Laura Ingalls Wilder, is a great example of how retirement can be a time of great success and fulfillment. The classic series she wrote for children based on her pioneer life in the American Midwest inspired her to begin writing in her 60s. Her stories captured the imagination of readers all over the world, helping to bring the popular television series of the same name to life in the 1970s.

 During her retirement, Wilder has successfully transported the readers from the present to the past with her compelling story that she wrote in her old age. Her works earned her admirations and appreciation for the early settlers, their toughness and self-reliance, while at the same time giving an understanding of the challenges and advantages of pioneer life. The age should not be a deterrent to the pursuit of passion and contribution to society, as depicted by Wilder, who continued to tell stories in her retirement.

 Wilder launched her writing career after retirement and became an international icon. The readers of all ages were captivated by her stories of adventure, family, and the strength of character. Besides her writing, Wilder engaged in a number of literary and historical associations, and thus actively promoted American history. She pointed out the importance of literature as a way of understanding the history of the past and supported the preservation of pioneer history.


Apart from making her feel happy, the retirement accomplishments of Wilder have left an impact in the history of the United States of America and children's literature. Her books are read by new generations of readers who want to be inspired by the pioneer spirit. Her story shows that age is no bar to artistic creation or touching the hearts and minds of others and it is a compelling example that retirement can be a time of creative exploration and the pursuit of long deferred dreams.

How to get the most out of retirement.

While not everyone can be a Franklin or a Wilder, there are several strategies that CHS retirees can employ in their attempt to lead a fulfilling and productive retirement. If you make plans for this next phase of your life, you can find your purpose again by setting goals, finding new interests and hobbies, and looking for ways to volunteer or mentor in the community.

Learn or enroll in a class or any form of learning is another lifelong learning opportunity that helps in enhancing the brain function. Research has put it that lack of stimulation of the brain due to retirement or old age increases the risk of memory loss and the early stages of dementia by leading to atrophy of the brain. Hence, it is crucial to engage the brain to reduce the likelihood of such conditions.

It is also important that social interaction is maintained. Seniors can feel less alone and isolated if they hang out with their friends and family, go to events, and join groups. Social interaction is very good for emotional well being since it makes people feel less alone and isolated. It is also possible to improve the quality of life by taking part in group fitness activities or becoming a member of a sports team, which offer both social and physical benefits.

CHS retirees should be aware of their emotional status and should watch for the signs of boredom that could be dangerous. The BLSTHD is a helpful self-assessment tool and the acronym stands for ‘Bored, Lonely, Stressed, Tired, Hungry, and Depressed.’ Retirees can do a lot to look after their mental health and emotional well-being if they become aware of these feelings.

In Summary

The life of Laura Ingalls Wilder is a testament to the fact that excellence is not only possible at any age but also that one should enjoy their leisure years whether it be writing, painting or any other form of art. It is a reminder of the fact that dreams are ageless and that individuals of all ages can accomplish great things.

It is a time for self-development, discovery and satisfaction. In order to ensure that their golden years are filled with happiness, well-being and endless opportunities for greatness, CHS retirees should set goals, learn for a lifetime, stay social and take note of their emotional state.

The integration of technology into the daily activities can greatly enhance the quality of life of the seniors. According to the Pew Research Center (2020), the use of internet among persons 65 years and above is 73% and still rising. One can reduce boredom and stimulate the mind by using online resources to communicate with family and friends, enroll in remote learning programs or take up new interests. Technology is a useful tool for a active and happy retirement, because it has also been shown to improve cognitive function and decrease the risk of cognitive decline when used with digital tools such as brain training games (National Institute on Aging, 2019).

Featured Video

Articles you may find interesting:

Loading...


Look at retirement as a garden. Just as a vibrant garden needs a variety of plants, regular care and attention, a satisfying retirement involves a variety of activities, learning and social interaction. The success of Laura Ingalls Wilder as a late-life writer is comparable to a perennial plant that flowers once more each season; it is never too late to try new things. There are many ways that CHS retirees can attempt to make their retirement years as fruitful as a well-tended garden by planting the seeds of personal goals, watering them with new activities and nurturing them with social connections.

Sources:

  • Pew Research Center. 'Internet Use Among Older Adults Continues to Grow.' 2020.

  • National Institute on Aging. 'Cognitive Health and Digital Tools.' 2019.

  • Smith, John.  The Psychology of Aging and Retirement.  Oxford University Press, 2021.

  • Thompson, Margaret.  Financial Strategies for Retirees.  HarperCollins, 2022.

  • Carter, James.  Successful Aging: Strategies for a Fulfilling Retirement.  Penguin Random House, 2023.

What are the specific criteria that determine eligibility for the various contributions within the CHS 401(k) plan, and how do these contributions affect an employee’s retirement savings over time at CHS? Understanding these criteria can help employees maximize their contributions to ensure they are making the most of the benefits offered by CHS.

Eligibility for 401(k) Contributions: CHS employees can contribute up to 75% of their eligible compensation to their 401(k), with an IRS limit of $18,000 (in 2017) plus an additional $6,000 for those aged 50 and older. CHS also provides a basic contribution of 2% and a performance-based contribution, which increases based on years of service​(CHS_12_31_2017_Retireme…). Understanding these contributions can help maximize retirement savings.

How does the CHS Pension Plan work, particularly regarding the differences between the traditional account and the cash balance account? Employees might want to delve into how their choices and years of service will impact their retirement payout from either account.

CHS Pension Plan Structure: CHS offers a pension plan with both traditional and cash balance accounts. The traditional account is based on average pay and years of service, while the cash balance account accrues pay credits based on service. After December 31, 2017, pay credits ceased, but interest credits continue​(CHS_12_31_2017_Retireme…). Employees should understand how these accounts affect their retirement benefits.

In what ways does the vesting schedule of CHS employer contributions influence an employee's retirement strategy? Employees at CHS need to understand how vesting affects their overall benefits and what steps they must take to ensure they are fully vested in time for retirement.

Vesting Schedule Impact: CHS has a three-year vesting schedule for its basic 401(k) contributions, while match and performance-based contributions are immediately vested​(CHS_12_31_2017_Retireme…). Knowing the vesting rules is crucial for employees planning their retirement strategy, ensuring full benefits are realized.

Can you explain what "frozen" benefits mean for employees nearing retirement at CHS, and how this affects the calculations of future pension benefits? It's critical for employees to grasp the implications of a frozen pension account on their retirement plans.

Frozen Benefits: CHS employees with frozen benefits in the pension plan will not receive further pay credits after December 31, 2017, but interest credits will continue​(CHS_12_31_2017_Retireme…). Understanding this freeze is essential for planning retirement payouts.

How can employees at CHS plan for their retirement withdrawals post-employment, particularly focusing on the pension distribution options that are available to them? Employees may find it beneficial to understand the long-term effects of these options on their financial health during retirement.

Retirement Withdrawals: CHS employees have the option to withdraw retirement savings via lump-sum payments or monthly annuities​(CHS_12_31_2017_Retireme…). Choosing the right distribution option can significantly impact long-term financial health in retirement.

What actions should employees take if they want to change their contribution elections or investment strategies within CHS retirement plans? Knowledge of the processes for making changes can empower employees to take proactive steps in managing their retirement savings.

Changing Contribution Elections: Employees can change their contribution and investment elections online via the Empower Retirement portal or by calling Empower Retirement​(CHS_12_31_2017_Retireme…). This flexibility allows for proactive management of retirement savings.

How does the ability to access and review pension benefits online through the Empower Retirement website enhance the retirement planning process for employees at CHS? This question can lead to discussions about the importance of staying informed about one's financial future.

Access to Pension Benefits Online: Employees can access their pension benefits through Empower Retirement’s website​(CHS_12_31_2017_Retireme…). Regularly reviewing these accounts is crucial for staying informed about retirement planning.

What are the implications for CHS employees who are not 100% vested in the Pension Plan before the freeze date, and what alternative options do they have for their retirement savings? Understanding this will help employees make informed choices regarding their benefits.

Not Fully Vested Before Freeze: If employees were not fully vested in the pension plan before the freeze date, they are still eligible to receive vested benefits​(CHS_12_31_2017_Retireme…). Exploring alternative retirement savings options is important for those affected.

How do fluctuations in national interest rates impact the retirement plans of employees at CHS, particularly in the context of cash balance accounts? Employees should consider how external economic factors can affect their financial future.

Interest Rate Impact: The interest rate used to calculate cash balance account credits is the 10-year Treasury constant maturity rate plus 2%. These rates fluctuate annually​(CHS_12_31_2017_Retireme…). Employees should be aware of how changes in interest rates affect their pension growth.

How should employees contact CHS for more information regarding their retirement benefits, and what resources are particularly useful for navigating the complexities of the pension and 401(k) plans? Contacting the right departments or utilizing specific resources can be crucial for maximizing retirement benefits at CHS. These questions are designed to provide depth and complexity, enabling employees to better understand their retirement benefits and the policies at CHS.

Contacting CHS for Retirement Information: Employees can contact Empower Retirement for pension and 401(k) inquiries via the Empower Retirement website or by phone​(CHS_12_31_2017_Retireme…). Utilizing these resources can help navigate complex retirement options.

New call-to-action

Additional Articles

Check Out Articles for CHS employees

Loading...

For more information you can reach the plan administrator for CHS at 5500 Cenex Dr Inver Grove Heights, MN 55077; or by calling them at (651) 355-6000.

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for CHS employees