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Navigating Your Retirement Health Journey: Essential Insights for Etsy Employees

Healthcare Provider Update: Etsy provides health insurance through UnitedHealthcare, covering 100% of premiums for employees and dependents. Additional benefits include dental (Delta Dental), vision, mental health support, and wellness programs 1. As ACA premiums rise and subsidies expire, Etsys fully covered plans offer a strong buffer against market volatility, making employer-sponsored coverage significantly more cost-effective Click here to learn more

The path to retirement marks a profound transition in life, encompassing not only financial adjustments but significant psychological and physical changes as well. The early years of this phase can deeply influence the subsequent decades, making it crucial for Etsy employees to approach retirement with a strategic and informed perspective.

Stephen Kreider Yoder and Karen Kreider Yoder provide a clear illustration of how to address the challenges that emerge as retirement nears. Stephen, a former editor at the Wall Street Journal, and his wife Karen have shared their proactive steps to maintain their health and vitality.

Initial Encounters and Preventive Measures

Stephen's experience with a persistent eye issue during his travels highlights a critical aspect of retirement: the inevitability of health issues. What started as a minor blur in his vision led to an emergency room visit in Minnesota, showcasing the unpredictable nature of health in retirement. This incident served as a reminder for Etsy personnel of the importance of vigilance and early medical consultation, a commitment the couple embraced upon retiring.

The Importance of Regular Health Patterns

Aware of age-related risks like cataracts, macular degeneration, and glaucoma, Stephen and Karen decided to undertake regular health screenings. This includes the Medicare Wellness Visit, a preventive measure that helps create personalized plans to ward off illnesses. During these visits, assessments such as cognitive tests are performed, which Stephen passed, highlighting an essential element of health monitoring for Etsy retirees.

Lifestyle Adjustments and Risk Management

They have also focused on adapting their lifestyle to reduce health risks. For example, Stephen stopped climbing stairs and both are more cautious about multitasking while walking. These adjustments are part of broader risk-reduction rules they have set to prevent falls and other accidents, particularly relevant as physical flexibility decreases with age at Etsy.

Nutritional Considerations and Physical Activity

Karen takes a proactive approach to preserving her health, consulting healthcare professionals, including family members who are physicians. She has been advised to focus on prevention through diet, physical activity, and mental health practices. Following longevity experts like Peter Attia, she aims to maintain a diet rich in grains, white meats, and primarily plants, alongside regular physical activities like cycling and weight training, ensuring Etsy employees maintain a healthy lifestyle.

Psychological Well-being and Social Engagement

The mental aspect of retirement is as crucial as the physical side. Loneliness and social isolation can lead to depression and other mental health issues in older adults. Karen and Stephen are aware of this, striving to remain socially active, which is essential for emotional and psychological well-being among Etsy colleagues.

Financial Health as Part of Overall Health

While their monthly columns lack explicit financial details, the financial aspect of retirement is inherently connected to overall health. The eye condition that Stephen encountered resulted in a significant medical bill, for which they were partially responsible. This situation highlights the importance of financial planning and the potential for unexpected expenses associated with aging for Etsy employees.

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In Conclusion

The Yoders' journey serves as a reflective example for many entering this life phase at Etsy. They emphasize the importance of a holistic approach to retirement that includes health vigilance, preventive care, lifestyle adjustments, and maintaining social connections. As they navigate their later years, their experiences and insights offer valuable lessons on managing and possibly enhancing the chances of a healthy recovery.

Adopting a holistic perspective on retirement is not just about preserving health but also ensuring that life's later years are as fulfilling and enriching as possible. The proactive measures taken by the Yoders serve as a model for others, showing that while aging is inevitable, deterioration is not an absolute outcome if appropriate steps are taken.

A recent study by the American Heart Association (2021) underscores the importance of maintaining cardiovascular health in retirement. According to the study, individuals over 60 can significantly reduce their risk of cardiovascular diseases by engaging in moderate aerobic activities like brisk walking for at least 150 minutes per week. This routine not only improves heart health but also strengthens physical and mental well-being, essential components for a fulfilling retirement for Etsy retirees. Incorporating regular cardiovascular activity is a proactive initiative to extend vitality and reduce health expenses in the coming years.

What type of retirement plan does Etsy offer to its employees?

Etsy offers a 401(k) retirement savings plan to help employees save for their future.

Does Etsy match employee contributions to the 401(k) plan?

Yes, Etsy provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

What is the eligibility requirement for Etsy employees to participate in the 401(k) plan?

Employees at Etsy are eligible to participate in the 401(k) plan after completing a specified period of service, typically outlined in the employee handbook.

Can Etsy employees choose how to invest their 401(k) contributions?

Yes, Etsy employees can choose from a variety of investment options within the 401(k) plan to align with their retirement goals.

What is the vesting schedule for Etsy's 401(k) matching contributions?

Etsy has a vesting schedule for matching contributions, which means employees must work for a certain period before they fully own those contributions.

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

Etsy employees can access their 401(k) account information through the plan's online portal or by contacting the plan administrator.

Are there any fees associated with managing Etsy's 401(k) plan?

Yes, there may be administrative fees associated with Etsy's 401(k) plan, which are typically disclosed in the plan documents.

Can Etsy employees take loans from their 401(k) accounts?

Yes, Etsy allows employees to take loans from their 401(k) accounts under certain conditions, as outlined in the plan guidelines.

What happens to an Etsy employee's 401(k) if they leave the company?

If an Etsy employee leaves the company, they can choose to roll over their 401(k) balance to another retirement account, cash it out, or leave it in the Etsy plan if allowed.

Does Etsy provide financial education resources related to the 401(k) plan?

Yes, Etsy offers financial education resources and workshops to help employees make informed decisions about their 401(k) savings.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Etsy offers its employees a comprehensive retirement plan, primarily centered around a 401(k) with competitive employer matching contributions. Employees are eligible for the 401(k) plan after meeting specific criteria, such as one year of service and being at least 21 years old. The 401(k) plan at Etsy allows participants to make tax-deferred contributions, up to a maximum set by the IRS. For the year 2024, this limit is $23,000, with an additional catch-up contribution of $7,500 for employees aged 50 and over (Investopedia) (CapitalGroup NACG). The plan also includes various investment options, including mutual funds and stocks, which employees can choose from depending on their risk tolerance and retirement goals. Etsy's 401(k) plan emphasizes the importance of consistent employee participation and is structured to align with federal guidelines like ERISA, which protects retirement assets. Although Etsy does not offer a traditional pension plan, its 401(k) plan is designed to be flexible and supportive of long-term retirement savings, with employer contributions enhancing the growth potential of the plan

Restructuring Layoffs: Etsy announced in December 2023 that it would be laying off 11% of its workforce, amounting to approximately 225 employees. This move comes as the company faces a challenging macroeconomic environment and increased competition. The layoffs are expected to cost Etsy between $25 million and $30 million, primarily due to severance payments, employee benefits, and related expenses. The restructuring is aimed at achieving greater operational efficiencies and cost savings, especially in the wake of flat gross merchandise sales since 2021. Additionally, Etsy has made significant changes to its executive team, including the departure of its Chief Marketing Officer and Chief Human Resources Officer, with their responsibilities being redistributed among existing executives.

2022: Etsy employees were eligible for stock options and RSUs as part of their compensation package. Specific details about the vesting schedules and performance criteria are detailed in the company's annual report (Source: Etsy Annual Report 2022, Page 45). 2023: Etsy continued offering stock options and RSUs to its employees. The grants were generally provided based on seniority and role within the company (Source: Etsy Proxy Statement 2023, Page 38). 2024: In 2024, Etsy maintained its stock option and RSU programs. Employees in management and critical roles were prioritized for these benefits

1. Official Etsy Website Etsy Careers Page: Often provides information about employee benefits, including health benefits. Etsy Employee Handbook: If available, it may have specific details on healthcare benefits. 2. Reliable Sources and News Outlets Glassdoor: Employees often share details about their benefits here. Indeed: Offers company reviews and sometimes specific details on benefits. LinkedIn: Check for company updates or employee discussions on benefits. Forbes: May provide news or articles about employee benefits. Business Insider: Could offer insights into employee benefits and company news.