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Why Avient Employees Can Thrive in Retirement Without a Bucket List

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The first few years of retirement are frequently a time of transitions for many, including those leaving Avient. 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 Avient 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 Avient. 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 purpose of Avient's 401(k) Savings Plan?

The purpose of Avient's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary into a tax-advantaged account.

How can employees enroll in Avient's 401(k) Savings Plan?

Employees can enroll in Avient's 401(k) Savings Plan by accessing the enrollment portal through the company's HR website or by contacting the HR department for assistance.

What types of contributions can employees make to Avient's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and in some cases, catch-up contributions if they are age 50 or older in Avient's 401(k) Savings Plan.

Does Avient offer a company match on 401(k) contributions?

Yes, Avient offers a company match on employee contributions to the 401(k) Savings Plan, which helps to enhance overall retirement savings.

What is the vesting schedule for Avient's 401(k) company match?

The vesting schedule for Avient's 401(k) company match typically follows a graded schedule, meaning employees earn ownership of the company match over a period of time.

Can employees take loans against their 401(k) accounts at Avient?

Yes, Avient allows employees to take loans against their 401(k) accounts, subject to certain limits and repayment terms as outlined in the plan documents.

What investment options are available in Avient's 401(k) Savings Plan?

Avient's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

How often can employees change their contribution amounts to Avient's 401(k) Savings Plan?

Employees can change their contribution amounts to Avient's 401(k) Savings Plan at any time, typically through the online portal or by contacting HR.

What happens to an employee's 401(k) account if they leave Avient?

If an employee leaves Avient, they can choose to leave their funds in the plan, roll them over to another qualified retirement account, or cash out, subject to taxes and penalties.

Are there any fees associated with Avient's 401(k) Savings Plan?

Yes, there may be administrative fees and investment-related fees associated with Avient's 401(k) Savings Plan, which are disclosed in the plan documents.

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

Avient has announced a significant restructuring effort, which includes layoffs across multiple departments. This move is part of a broader strategy to streamline operations and improve financial performance. The company is also modifying its pension plans and benefits to align with its new organizational structure.