Healthcare Provider Update: Belden offers health, dental, and vision insurance, along with life and disability coverage. Employees benefit from a 401(k) retirement plan, stock purchase options, and paid time off. The company promotes a culture of inclusion and community engagement, with wellness programs and education assistance available. Beldens total rewards program is designed to support employees physical, financial, and emotional well-being3. Belden With ACA premiums projected to rise sharply in 2026, Beldens comprehensive benefits and inclusive culture help employees avoid the financial strain of marketplace plans. The companys emphasis on preventive care and wellness education further reduces long-term healthcare costs. Click here to learn more
In a recent survey by Bankrate , Delaware has been identified as the premier state for retirement, ranking first in the company's annual survey, which assesses key elements influencing retirees' decisions. This year, Delaware rose from second place, surpassing Iowa, which now finds itself at ninth due to increased living expenses, property taxes, and homeowner insurance costs.
The Bankrate evaluation involved a comprehensive analysis of several data points across all states, excluding the District of Columbia. The rankings were based on five major categories: affordability (40% of the total score), overall well-being (25%), healthcare costs and quality (20%), weather (10%), and crime rate (5%). Belden employees will find these factors essential when considering where to enjoy their retirement.
Often overlooked as a retirement destination, Delaware boasts numerous benefits that have solidified its status among retirees. It offers superior healthcare services, a favorable tax environment with no state or municipal tax, and an exemption from Social Security benefit taxes, enhancing its affordability. Despite higher-than-average living expenses, these financial perks make Delaware an attractive option for those seeking a stable post-career life.
The demographic profile of the country is notable for its high proportion of residents aged 62 and older, which enriches its collective diversity. However, Delaware does have areas of concern, including crime rates and the cost of living, which have not been as favorable. For Belden retirees, understanding these dynamics is crucial to making an informed decision.
Alongside Delaware were West Virginia, Georgia, South Carolina, and Missouri, all renowned for their great affordability. In particular, West Virginia's low living and real estate expenses, coupled with affordable home insurance, secured its second-place position, even though it achieved better health quality. Georgia advanced from fifth to third place last year due to lower living expenses and home insurance rates, despite continuing issues with healthcare and crime. South Carolina, ranked fourth since the nineteenth century, is valued for its affordability and climate, despite crime-related challenges.
In contrast, the states deemed least favorable for retirement included Alaska, New York, Washington, California, and North Dakota. Alaska remained the least favored due to its poor accessibility and adverse weather conditions. High living costs are a common challenge across the Northeast and West, affecting retirees' financial stability and their ability to maintain their savings. Belden employees should consider these factors when planning their retirement locations.
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
Bankrate's study underscores the importance of feasibility in retirement planning, especially as many Americans feel financially unprepared for their retirement years. Relocating to a state that offers financial benefits can be a strategic decision for those nearing retirement age, thus allowing them to maximize their savings and enhance their quality of life during their golden years. This approach is particularly significant for individuals who are behind on their retirement savings, as moving to a more affordable location can significantly extend the duration and comfort of their retirement funds.
An often overlooked aspect of retirement planning is the availability of senior-friendly recreational activities, which can significantly enhance quality of life. For example, South Carolina, ranked fourth among the best states for retirement, offers a wide range of senior-friendly recreational activities, including over 360 golf courses and numerous national parks. This infrastructure not only provides entertainment but also opportunities for physical activity and socialization, which are essential for maintaining health and well-being in later life. Belden retirees might find such states especially appealing for their active and engaging post-retirement lifestyle.
What is the primary purpose of Belden's 401(k) Savings Plan?
The primary purpose of Belden's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a tax-deferred basis.
How can employees enroll in Belden's 401(k) Savings Plan?
Employees can enroll in Belden's 401(k) Savings Plan by accessing the benefits portal or contacting the HR department for guidance on the enrollment process.
What types of contributions can employees make to Belden's 401(k) Savings Plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and may also be eligible for employer matching contributions in Belden's 401(k) Savings Plan.
Is there a company match for contributions made to Belden's 401(k) Savings Plan?
Yes, Belden offers a company match for employee contributions to the 401(k) Savings Plan, which helps employees increase their retirement savings.
What is the vesting schedule for employer contributions in Belden's 401(k) Savings Plan?
The vesting schedule for employer contributions in Belden's 401(k) Savings Plan typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a specified period.
Can employees change their contribution percentage at Belden?
Yes, employees can change their contribution percentage to Belden's 401(k) Savings Plan at any time, usually through the benefits portal or by contacting HR.
What investment options are available in Belden's 401(k) Savings Plan?
Belden's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
At what age can employees begin to withdraw from Belden's 401(k) Savings Plan without penalties?
Employees can begin to withdraw from Belden's 401(k) Savings Plan without penalties at age 59½, provided they meet other plan requirements.
What happens to an employee's 401(k) balance if they leave Belden?
If an employee leaves Belden, they can choose to roll over their 401(k) balance to another retirement account, withdraw the funds, or leave the balance in the plan if allowed.
Does Belden's 401(k) Savings Plan allow loans against the account?
Yes, Belden's 401(k) Savings Plan may allow employees to take loans against their account balance, subject to specific terms and conditions outlined in the plan documents.