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Why AvalonBay Communities Employees Can Thrive in Retirement Without a Bucket List

Healthcare Provider Update: Offers medical insurance through Aetna, dental via MetLife, and vision through VSP, with HSA and FSA options and wellness support from Lyra and Maven 1. As ACA premiums rise and subsidies expire, AvalonBays employer-sponsored plans with flexible spending and mental health support offer a more stable and cost-effective alternative to marketplace coverage Click here to learn more

The first few years of retirement are frequently a time of transitions for many, including those leaving AvalonBay Communities. It is a critical period that can influence the next few decades financially and emotionally. At the age of sixty-six, Wall Street Journal distinguished editor Stephen Kreider Yoder announced his retirement. His wife, sixty-seven-year-old Karen Kreider Yoder, followed suit. Their experiences, highlighted in the 'Retirement Rookies' column each month, demonstrate a departure from conventional retirement preparation. They emphasize crafting adaptable, meaningful experiences that serve as a foundation for future undertakings over following predetermined bucket lists.

This approach to retirement highlights a larger movement among individuals reimagining their post-employment years. By focusing on personal development and continual exploration, retirees can ensure a fuller, more satisfying experience. This narrative offers invaluable insights for AvalonBay Communities employees looking to maximize their life-changing retirement years.

Recent studies by the American Psychological Association (APA) underline the advantages of the Yoders' method of unstructured retirement planning. The research indicates that retirees adhering rigidly to their pre-planned bucket lists report lower levels of satisfaction and fulfillment compared to those who engage in activities based on their own interests and whims. This suggests that a flexible retirement lifestyle can lead to more fulfilling and significant experiences, an important consideration as employees transition from structured careers to the freedom of retirement.

In the Retirement Rookies column, Stephen and Karen Kreider Yoder share their journeys and offer a fresh perspective on retirement planning. Learn why they're passing on typical bucket lists in favor of flexible, meaningful experiences, and how this strategy might enhance your post-work years at AvalonBay Communities. Discover how embracing an unstructured retirement can lead to increased contentment and pleasure, setting the stage for a rewarding future.

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Forgoing a conventional retirement plan is akin to sailing a ship without a defined course. Retirees like the Yoders choose to navigate the waters of their golden years with the liberty to uncover new horizons as they appear, rather than charting every port of call. This method, much like a sailor discovering new adventures in uncharted waters, allows them to encounter unexpected joys and experiences, enriching each day with personal growth and satisfaction.

What is the 401(k) plan offered by AvalonBay Communities?

The 401(k) plan offered by AvalonBay Communities is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

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

Yes, AvalonBay Communities offers a matching contribution to employee 401(k) contributions, helping employees save more for retirement.

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

The maximum contribution limit for the AvalonBay Communities 401(k) plan follows the IRS guidelines, which are updated annually.

When can employees of AvalonBay Communities enroll in the 401(k) plan?

Employees of AvalonBay Communities can enroll in the 401(k) plan during their initial eligibility period, which is typically upon hire or during an open enrollment period.

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

The AvalonBay Communities 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How can employees of AvalonBay Communities access their 401(k) account information?

Employees of AvalonBay Communities 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 AvalonBay Communities 401(k) plan?

Yes, AvalonBay Communities has a vesting schedule for the employer match, which determines how much of the matching contributions employees are entitled to based on their years of service.

Can employees of AvalonBay Communities take loans against their 401(k) savings?

Yes, employees of AvalonBay Communities may be able to take loans against their 401(k) savings, subject to the plan's terms and conditions.

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

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

Are there any fees associated with the AvalonBay Communities 401(k) plan?

Yes, there may be fees associated with the AvalonBay Communities 401(k) plan, which can include administrative fees and investment-related fees.

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

AvalonBay Communities recently announced a restructuring plan involving a reduction in workforce due to a slowdown in real estate market growth. This move aims to streamline operations and reduce costs.

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For more information you can reach the plan administrator for AvalonBay Communities at 4040 Wilson Blvd Arlington, VA 22203; or by calling them at +1 703-329-6300.