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The first few years of retirement are frequently a time of transitions for many, including those leaving Old Republic International. 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 Old Republic International 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 Old Republic International. 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 Old Republic International?
The 401(k) plan at Old Republic International is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them build a nest egg for retirement.
How does Old Republic International match employee contributions to the 401(k) plan?
Old Republic International offers a company match on employee contributions, which means that for every dollar an employee contributes, the company will match a certain percentage, up to a specified limit.
What are the eligibility requirements for Old Republic International's 401(k) plan?
Employees at Old Republic International typically become eligible for the 401(k) plan after completing a specified period of service, usually within the first year of employment.
Can employees of Old Republic International change their contribution rates to the 401(k) plan?
Yes, employees of Old Republic International can change their contribution rates to the 401(k) plan at designated times throughout the year.
What investment options are available in Old Republic International's 401(k) plan?
The 401(k) plan at Old Republic International offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Is there a vesting schedule for the employer match in Old Republic International's 401(k) plan?
Yes, Old Republic International has a vesting schedule that determines when employees fully own the employer contributions made to their 401(k) accounts.
How can employees of Old Republic International enroll in the 401(k) plan?
Employees can enroll in the 401(k) plan at Old Republic International by completing the necessary enrollment forms, which are typically available through the HR department or the company’s benefits portal.
What is the maximum contribution limit for Old Republic International's 401(k) plan?
The maximum contribution limit for Old Republic International's 401(k) plan is subject to IRS regulations, which may change annually. Employees should check the latest guidelines for the current limit.
Does Old Republic International offer a Roth 401(k) option?
Yes, Old Republic International offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.
What happens to my 401(k) savings if I leave Old Republic International?
If you leave Old Republic International, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the Old Republic International plan if permitted.