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Why Cabot 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 Cabot. 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 Cabot 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 Cabot. 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 primary purpose of Cabot's 401(k) plan?

The primary purpose of Cabot's 401(k) plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

How can employees enroll in Cabot's 401(k) plan?

Employees can enroll in Cabot's 401(k) plan by completing the enrollment process through the company's benefits portal during the enrollment period or after they become eligible.

What is the eligibility requirement for Cabot's 401(k) plan?

Employees at Cabot are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically outlined in the employee handbook.

Does Cabot offer any matching contributions to the 401(k) plan?

Yes, Cabot offers a matching contribution to the 401(k) plan, which is designed to encourage employees to save for retirement.

How often can employees change their contribution rates to Cabot's 401(k) plan?

Employees can change their contribution rates to Cabot's 401(k) plan at any time, subject to the plan's guidelines.

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

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

Can employees take loans against their 401(k) balances at Cabot?

Yes, Cabot allows employees to take loans against their 401(k) balances, subject to the terms and conditions of the plan.

What happens to Cabot's 401(k) plan if an employee leaves the company?

If an employee leaves Cabot, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Cabot plan if eligible.

Are there any fees associated with Cabot's 401(k) plan?

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

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

Employees can access their 401(k) account information through the online portal provided by Cabot's plan administrator.

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

Cabot announced a restructuring plan that includes layoffs of 200 employees and a freeze on salary increases for the next year.

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For more information you can reach the plan administrator for Cabot at 2 Seaport Lane, Suite 1300 Boston, MA 2210; or by calling them at +1 617-345-0100.