Healthcare Provider Update: Provides medical, dental, vision, and mental health coverage, plus 401(k), ESOP, and paid leave benefits 8. With ACA subsidies expiring, NVRs internal plans offer employees a more stable and cost-effective healthcare solution. Click here to learn more
The first few years of retirement are frequently a time of transitions for many, including those leaving NVR. 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 NVR 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 NVR. 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 NVR 401(k) plan?
The NVR 401(k) plan is a retirement savings plan that allows employees to save for their future by contributing a portion of their salary on a pre-tax or post-tax basis.
How can I enroll in the NVR 401(k) plan?
Employees can enroll in the NVR 401(k) plan by completing the enrollment process through the company’s benefits portal or by contacting the HR department for assistance.
Does NVR offer a company match for the 401(k) contributions?
Yes, NVR offers a company match on employee contributions to the 401(k) plan, helping employees to maximize their retirement savings.
What is the maximum contribution limit for the NVR 401(k) plan?
The maximum contribution limit for the NVR 401(k) plan is set by the IRS and may change annually. Employees should check the current limits to ensure they are contributing the maximum allowed.
Can I change my contribution amount to the NVR 401(k) plan?
Yes, employees can change their contribution amount to the NVR 401(k) plan at any time by accessing their account through the benefits portal.
What investment options are available in the NVR 401(k) plan?
The NVR 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles, allowing employees to choose based on their risk tolerance and retirement goals.
When can I start withdrawing from my NVR 401(k) plan?
Employees can typically begin withdrawing from their NVR 401(k) plan without penalty at age 59½, but there are specific rules regarding hardship withdrawals and loans.
Does NVR allow loans against my 401(k) balance?
Yes, NVR allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan documents.
What happens to my NVR 401(k) if I leave the company?
If you leave NVR, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the NVR plan if eligible.
Are there any fees associated with the NVR 401(k) plan?
Yes, the NVR 401(k) plan may have administrative fees and investment-related fees. Employees should review the plan documents for detailed information on any applicable fees.