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

Why Patterson Employees Can Thrive in Retirement Without a Bucket List

Healthcare Provider Update: Patterson offers medical, dental, vision, life, and disability insurance, along with HSAs and FSAs. Employees benefit from a 401(k) plan, paid time off, and voluntary benefits like accident and hospital indemnity coverage. The company subsidizes approximately 75% of healthcare costs and provides legal and identity theft protection 9. Patterson With ACA premiums expected to surge, Pattersons subsidized healthcare and flexible coverage options help employees maintain affordable access to care. Click here to learn more

The first few years of retirement are frequently a time of transitions for many, including those leaving Patterson. 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 Patterson 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 Patterson. 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 is the primary purpose of Patterson's 401(k) Savings Plan?

The primary purpose of Patterson's 401(k) Savings Plan is to help employees save for retirement by providing a tax-advantaged way to invest a portion of their income.

How does Patterson match employee contributions to the 401(k) plan?

Patterson matches employee contributions to the 401(k) plan up to a certain percentage of their salary, enhancing the overall savings potential for employees.

When can employees at Patterson enroll in the 401(k) Savings Plan?

Employees at Patterson can enroll in the 401(k) Savings Plan during their initial onboarding period or during the annual open enrollment period.

What types of investment options are available in Patterson's 401(k) Savings Plan?

Patterson's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

Can employees at Patterson take loans against their 401(k) Savings Plan?

Yes, employees at Patterson may have the option to take loans against their 401(k) Savings Plan, subject to specific terms and conditions.

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

Employees at Patterson can access their 401(k) account information online through the plan's dedicated portal or by contacting the plan administrator.

What happens to the 401(k) Savings Plan if an employee leaves Patterson?

If an employee leaves Patterson, they have several options regarding their 401(k) Savings Plan, including rolling it over to another retirement account or leaving it in the plan.

Does Patterson offer a Roth 401(k) option within its Savings Plan?

Yes, Patterson offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

Are there any fees associated with Patterson's 401(k) Savings Plan?

Yes, Patterson's 401(k) Savings Plan may have certain administrative fees, which are disclosed in the plan documents provided to employees.

How often can employees at Patterson change their contribution amounts to the 401(k) plan?

Employees at Patterson can change their contribution amounts to the 401(k) plan during the annual open enrollment period or at any time as permitted by the plan.