The first few years of retirement are frequently a time of transitions for many, including those leaving Pacific Life. 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 Pacific Life 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 Pacific Life. 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 Pacific Life?
The 401(k) plan at Pacific Life is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.
How can employees at Pacific Life enroll in the 401(k) plan?
Employees at Pacific Life can enroll in the 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
Does Pacific Life offer a matching contribution for its 401(k) plan?
Yes, Pacific Life offers a matching contribution to its 401(k) plan, helping employees increase their retirement savings.
What types of investment options are available in the Pacific Life 401(k) plan?
The Pacific Life 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 at Pacific Life change their contribution percentage to the 401(k) plan?
Yes, employees at Pacific Life can change their contribution percentage at any time by accessing their account through the HR portal.
What is the vesting schedule for the Pacific Life 401(k) plan?
The vesting schedule for the Pacific Life 401(k) plan typically depends on the length of service with the company, with employees becoming fully vested after a certain number of years.
Are there any fees associated with the Pacific Life 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Pacific Life 401(k) plan, which are disclosed in the plan documents.
How can employees at Pacific Life access their 401(k) account information?
Employees at Pacific Life can access their 401(k) account information online through the company’s HR portal or by contacting the plan administrator.
What happens to my Pacific Life 401(k) if I leave the company?
If you leave Pacific Life, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Pacific Life plan if eligible.
Can employees at Pacific Life take loans against their 401(k) savings?
Yes, Pacific Life allows employees to take loans against their 401(k) savings, subject to the plan’s terms and conditions.
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