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

Why Biogen Employees Can Thrive in Retirement Without a Bucket List

Healthcare Provider Update: Offers comprehensive medical, dental, and vision plans, plus telemedicine and wellness programs 1. Employees are encouraged to compare employer plans with ACA marketplace options as 2026 premium hikes approach. Click here to learn more

The first few years of retirement are frequently a time of transitions for many, including those leaving Biogen. 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 Biogen 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 Biogen. Discover how embracing an unstructured retirement can lead to increased contentment and pleasure, setting the stage for a rewarding future.

Featured Video

Articles you may find interesting:

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 type of retirement savings plan does Biogen offer to its employees?

Biogen offers a 401(k) retirement savings plan to its employees.

How can employees at Biogen enroll in the 401(k) plan?

Employees at Biogen can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

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

Yes, Biogen provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.

What is the maximum contribution limit for Biogen's 401(k) plan?

The maximum contribution limit for Biogen's 401(k) plan is determined by IRS guidelines, which may change annually.

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

Yes, Biogen allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

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

Biogen’s 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How often can Biogen employees change their 401(k) contribution amounts?

Biogen employees can change their 401(k) contribution amounts at any time, subject to payroll processing timelines.

Is there a vesting schedule for Biogen's 401(k) matching contributions?

Yes, Biogen has a vesting schedule for its matching contributions, which means employees must work for a certain period to fully own those contributions.

Can Biogen employees roll over their 401(k) savings from a previous employer?

Yes, Biogen employees can roll over their 401(k) savings from a previous employer into Biogen's 401(k) plan.

What happens to Biogen employees' 401(k) savings if they leave the company?

If Biogen employees leave the company, they can either roll over their 401(k) savings to another qualified plan, cash out, or leave the savings in the Biogen plan if permitted.

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

Biogen is undergoing a significant restructuring that includes layoffs impacting various departments. The company is also making changes to its pension plan and 401(k) benefits.