Healthcare Provider Update: Targa Resources offers medical, dental, and vision insurance, along with HSA/FSA options and mental health benefits 2. With ACA insurers requesting double-digit hikes for 2026, Targas internal coverage may help employees avoid steep out-of-pocket increases expected in the marketplace. Click here to learn more
The first few years of retirement are frequently a time of transitions for many, including those leaving Targa Resources. 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 Targa Resources 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 Targa Resources. 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 Targa Resources' 401(k) Savings Plan?
The primary purpose of Targa Resources' 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax or Roth after-tax basis.
How can employees at Targa Resources enroll in the 401(k) Savings Plan?
Employees at Targa Resources can enroll in the 401(k) Savings Plan by completing the online enrollment process through the company’s benefits portal during the enrollment period or after they become eligible.
What is the employer match contribution policy for Targa Resources' 401(k) Savings Plan?
Targa Resources offers a competitive employer match for contributions made to the 401(k) Savings Plan, typically matching a percentage of employee contributions up to a certain limit.
What types of investment options are available in Targa Resources' 401(k) Savings Plan?
Targa Resources' 401(k) Savings Plan provides a variety of investment options, including mutual funds, target-date funds, and company stock, allowing employees to tailor their investment strategy.
At what age can employees at Targa Resources start withdrawing from their 401(k) Savings Plan without penalties?
Employees at Targa Resources can start withdrawing from their 401(k) Savings Plan without penalties at age 59½, provided they have separated from service or are still employed.
Does Targa Resources allow loans against the 401(k) Savings Plan?
Yes, Targa Resources allows employees to take loans against their 401(k) Savings Plan, subject to specific terms and conditions outlined in the plan documents.
Can employees at Targa Resources change their contribution percentage to the 401(k) Savings Plan at any time?
Yes, employees at Targa Resources can change their contribution percentage to the 401(k) Savings Plan at any time through the benefits portal.
What happens to an employee's 401(k) Savings Plan balance if they leave Targa Resources?
If an employee leaves Targa Resources, they can choose to leave their balance in the plan, roll it over to another qualified retirement plan, or cash it out, subject to taxes and penalties.
Is there a vesting schedule for employer contributions in Targa Resources' 401(k) Savings Plan?
Yes, Targa Resources has a vesting schedule for employer contributions, meaning employees must work for the company for a certain period before they fully own the employer match.
How often can employees at Targa Resources review their 401(k) Savings Plan statements?
Employees at Targa Resources can review their 401(k) Savings Plan statements quarterly through the benefits portal or receive them via mail.
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