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 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 Targa Resources 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 Targa Resources 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 Targa Resources 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 Targa Resources.
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 Targa Resources 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 Targa Resources 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 Targa Resources employees.
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In Conclusion
The Yoders' journey serves as a reflective example for many entering this life phase at Targa Resources. 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 Targa Resources retirees. Incorporating regular cardiovascular activity is a proactive initiative to extend vitality and reduce health expenses in the coming years.
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.