Healthcare Provider Update: Kelly Services offers ACA-compliant health coverage to eligible employees, along with optional plans for dental, vision, life, disability, and critical illness. Benefits include telemedicine, wellness support, legal counseling, and student loan assistance. Employees also have access to retirement plans and corporate discounts. Coverage is customizable for employees, spouses, and dependents 5. Kelly Services With ACA insurers requesting premium hikes of up to 66% in some states, Kellys flexible benefit options and ACA-compliant plans help employees maintain affordable coverage and avoid costly marketplace alternatives. 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%). Kelly Services 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 Kelly Services 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. Kelly Services employees should consider these factors when planning their retirement locations.
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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. Kelly Services retirees might find such states especially appealing for their active and engaging post-retirement lifestyle.
What type of retirement plan does Kelly Services offer to its employees?
Kelly Services offers a 401(k) retirement savings plan to help employees save for their future.
How can I enroll in the Kelly Services 401(k) plan?
Employees can enroll in the Kelly Services 401(k) plan by visiting the company’s benefits portal or contacting the HR department for assistance.
Does Kelly Services match contributions to the 401(k) plan?
Yes, Kelly Services provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the eligibility requirement to participate in the Kelly Services 401(k) plan?
Employees of Kelly Services are typically eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.
What investment options are available in the Kelly Services 401(k) plan?
The Kelly Services 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 I take a loan against my 401(k) plan with Kelly Services?
Yes, Kelly Services allows employees to take loans against their 401(k) balances, subject to the plan’s terms and conditions.
What is the vesting schedule for the Kelly Services 401(k) matching contributions?
The vesting schedule for Kelly Services 401(k) matching contributions varies, so employees should refer to the plan documents for specific details.
How often can I change my contribution amount to the Kelly Services 401(k) plan?
Employees can change their contribution amount to the Kelly Services 401(k) plan at any time, typically through the benefits portal.
What happens to my 401(k) plan if I leave Kelly Services?
If you leave Kelly Services, you can choose to roll over your 401(k) balance to another retirement account, withdraw the funds, or leave the balance in the Kelly Services plan if allowed.
Does Kelly Services offer financial education resources for 401(k) participants?
Yes, Kelly Services provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.