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The Rise of Semi-Retirement for Halliburton Employees: A Flexible Transition to Retirement

'Halliburton employees considering semi-retirement can benefit from not only a flexible work schedule but also the financial advantages of continuing to contribute to retirement savings while maintaining a sense of purpose and social engagement.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Transitioning to semi-retirement can be a smart strategy for Halliburton employees to balance continued financial growth with personal well-being, offering both income opportunities and a healthier work-life balance.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

The benefits of semi-retirement for Halliburton employees, including financial and psychological advantages.
The economic opportunities, such as contributing to retirement accounts and delaying Social Security benefits.
Important considerations when transitioning to semi-retirement, including taxes, health care, and the impact on Social Security benefits.

As retirement approaches, many Halliburton employees are rethinking what it means to 'retire.' Traditionally, retirement has meant leaving the workforce entirely, but this notion is shifting, with semi-retirement becoming an increasingly popular and viable option. Semi-retirement offers a flexible way to transition into retirement while maintaining professional involvement, whether driven by a desire to stay active or by financial needs.

Semi-Retirement: What Is It?

Semi-retirement is when employees reduce their work hours, while still engaging in part-time or freelance opportunities. For Halliburton employees, this could involve cutting back hours at a full-time position, taking on part-time roles, or venturing into self-employment through consulting or freelance work.

Some may need to be in semi-retirement due to insufficient savings or unexpected financial circumstances, even after reaching the typical retirement age. Others may feel motivated to continue working due to personal fulfillment, a sense of purpose, or the social connections that work provides. Semi-retirement offers a balance between leisure and activity, benefiting many by enhancing their overall well-being.

Important Takeaways:

Halliburton employees who transition into semi-retirement can still earn an income while enjoying more free time.
Semi-retirement provides psychological as well as financial benefits, helping individuals maintain relationships and stay engaged.
It's important to understand the tax implications, and the effects on Social Security benefits and health care coverage, before entering semi-retirement.

The Economic Advantages of Semi-Retirement

One of the most direct financial benefits of semi-retirement is the ability to supplement retirement funds. Even though part-time jobs may not offer the same salary as full-time positions, they can still contribute to a financial cushion for retirement.

Halliburton employees in semi-retirement may still be eligible to make contributions to retirement accounts such as IRAs. Individuals over 50 can take advantage of catch-up contributions, allowing them to save even more for retirement. In 2025, the IRA contribution limit is $8,000, including a $1,000 catch-up contribution. Halliburton employees who participate in a 401k can benefit from a $7,500 catch-up contribution, increasing the maximum contribution to $30,000 for those over 50, and up to $35,500 for employees aged 60 to 63.

Additionally, continuing to work part-time can delay the start of Social Security benefits, which can increase the monthly payout when benefits are eventually claimed. For Halliburton employees who expect to live longer and wish to increase their retirement income, delaying Social Security can result in an approximately 8% increase in benefits for each year they wait after reaching full retirement age (FRA).

Semi-retirement can provide a cushion against unexpected financial setbacks, such as market downturns or unforeseen expenses. With a second income and the ability to delay drawing from retirement accounts, employees can strengthen their financial future.

The Psychological Benefits of Semi-Retirement

While the financial incentives are clear, semi-retirement also offers important psychological benefits. The transition from a full-time career to retirement can be overwhelming, especially for those who have worked for decades. The loss of a job-related identity and the potential for social isolation can take a toll on mental health, leading to increased risks of loneliness, anxiety, or depression.

Semi-retirement provides a solution by maintaining social connections and a sense of purpose. It offers structure while allowing for greater freedom, which can help employees stay engaged and emotionally fulfilled. Kevin Won, a financial advisor with The Retirement Group, suggests that reducing work hours rather than quitting altogether can contribute to a more successful retirement.

Not all Halliburton employees are suited for semi-retirement, however. Teresa Ghilarducci, a labor economist, warns that those in high-stress, low-control jobs might find that continuing to work, even part-time, could exacerbate stress and health issues. It's important for each employee to evaluate their own situation and whether part-time work will improve or hinder their quality of life.

How to Determine If Semi-Retirement Is Right for You

For Halliburton employees, deciding if semi-retirement is the right path involves considering both financial and personal factors. Financially, it's important to assess how much more needs to be saved and how long one must work in semi-retirement to cover retirement expenses. Thoughtful questions such as 'How much more do I need to save?' and 'How long will I need to work to support my retirement?' can guide the decision-making process.

Employees with adequate savings who still want to build their nest egg can use semi-retirement as an opportunity to work more flexibly and add to their retirement funds. This additional income could provide a cushion against economic uncertainties.

For those seeking purpose or a new challenge, semi-retirement may involve consulting, freelancing, or taking on projects that align with personal interests. Halliburton employees who are motivated by a desire to remain engaged in meaningful work will find semi-retirement an ideal option.

Things to Consider Before Moving Into Semi-Retirement

Before transitioning to semi-retirement, Halliburton employees should carefully consider the potential impact on their health care, taxes, and Social Security benefits.

Taxes:

Working part-time during semi-retirement can impact tax brackets. Additional income from part-time work or retirement account withdrawals may push employees into a higher tax bracket, increasing their tax liability. It's important to stay informed about tax changes and plan accordingly.

Social Security:

If an employee is under full retirement age (FRA), working part-time while receiving Social Security benefits may reduce the monthly income. For example, in 2025, employees under FRA who earn more than $23,400 may see a reduction of $1 in Social Security benefits for every $2 they earn above this threshold. Once FRA is reached, any withheld benefits will be reinstated.

Health Care:

Retirees under 65 must purchase health insurance through the marketplace until they are eligible for Medicare at age 65. Employees staying in their jobs may continue to access employer-sponsored insurance. Understanding how health care costs will be managed during the transition to retirement is crucial, especially for employees who will continue to rely on company health benefits.

The Bottom Line

Semi-retirement offers Halliburton employees a flexible, fulfilling way to ease into retirement without losing the financial and social benefits of work. With the potential to supplement retirement savings, delay Social Security claims, and maintain social connections, semi-retirement may provide a balanced approach to transitioning into full retirement.

By weighing the financial and personal factors, employees can make an informed decision that aligns with their long-term goals, leading to a smooth and sustainable retirement journey.

This growing trend reflects a shift toward a more gradual, controlled approach to retirement, with nearly 30% of Americans over 60 considering semi-retirement ¹ as a way to preserve both financial stability and personal fulfillment.

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Sources:

1. ' 4 Key Reasons Retirement Is Out of Reach for Many Older Americans ,' by Cynthia Meason. Yahoo!finance, 17 June 2025.

Other resources:

1. 'The Rise of the Semi-Retired Life.' Investopedia, 25 Oct. 2016, www.investopedia.com/articles/retirement/102216/the-rise-semi-retired-life.asp .

2. 'The Amazing Tax Benefits of Semi-Retirement.' Can I Retire Yet?, 25 May 2020, www.caniretireyet.com/tax-benefits-of-semi-retirement/ .

3. 'Delayed Retirement Credits.' Social Security Administration, www.ssa.gov/benefits/retirement/delayed-retirement-credits/ .

4. 'How Working in Later Years Can Improve Your Health.' Investopedia, 28 May 2025, www.investopedia.com/articles/retirement/052816/how-working-later-years-can-improve-your-health.asp .

5. '5 Advantages of Semi-Retirement.' Minster Bank, 15 Sept. 2024, www.minsterbank.com/5-advantages-of-semi-retirement/

What are the main eligibility criteria for employees under the Halliburton Retirement Plan, and how have these criteria evolved since the plan was frozen to new participants after December 31, 1996? In what ways do these eligibility requirements impact current and future Halliburton employees?

Eligibility Criteria: The Halliburton Retirement Plan was frozen to new participants after December 31, 1996. Employees who were active participants and at least 55 years old by that date remain eligible under the plan. The eligibility criteria have remained largely unchanged for these participants, affecting current employees by limiting new enrollments, which can reduce the overall scope of retirement benefits offered to newer hires(Halliburton_2_27_2015_H…).

How does the funding mechanism of the Halliburton Retirement and Savings Plan impact the retirement benefits provided to employees? Discuss the actuarially determined contribution method and how it aligns with IRS regulations for pension plans in 2024.

Funding Mechanism: The Halliburton Retirement and Savings Plan uses an actuarially determined contribution method to fund retirement benefits, ensuring that the plan is in line with IRS regulations. This approach calculates contributions based on the plan’s liabilities and participants' service, helping maintain the financial health of the plan in 2024 by adjusting employer contributions as needed to meet legal obligations(Halliburton_2_27_2015_H…).

In the context of the Halliburton Retirement Plan, what options do employees have for distribution upon reaching retirement age or in the event of early retirement? Elaborate on the various distribution forms available, such as lump-sum payouts and annuities, and how these options are designed to support employeesâ€™ financial needs after retirement.

Distribution Options: Halliburton employees have various distribution options upon reaching retirement age, including lump-sum payouts and annuities. These options are designed to cater to diverse financial needs, with employees being able to choose between a one-time lump sum or recurring payments in the form of annuities for greater financial stability post-retirement(Halliburton_2_27_2015_H…).

What are the implications of excluding certain employee groups (e.g., union members, non-resident aliens) from the Halliburton Retirement Plan on the workforce's overall retirement security? Assess how this could affect Halliburton's ability to attract and retain diverse talent in the company.

Exclusion of Employee Groups: The Halliburton Retirement Plan excludes union members, non-resident aliens, and leased contractors from participation, which can impact the overall retirement security of these groups. This exclusion might limit Halliburton's ability to attract a more diverse workforce, as retirement benefits are a key factor in talent retention(Halliburton_2_27_2015_H…).

How can Halliburton employees access their retirement plan benefits, and what steps do they need to take to initiate a distribution request? Provide a detailed explanation of the distribution request process as outlined in the Halliburton Retirement Plan documentation.

Accessing Retirement Benefits: To access their retirement benefits, Halliburton employees must contact the Halliburton Benefits Center at the provided phone number. The distribution request process involves completing specific forms and complying with eligibility requirements to initiate benefit disbursement(Halliburton_2_27_2015_H…).

Considering changes in the economy and retirement landscape, how does Halliburton's approach to retirement benefits compare to industry standards? Analyze the strengths and weaknesses of Halliburton's retirement offerings relative to competitors in the same market segment.

Industry Comparison: Halliburton's retirement offerings, including a defined benefit plan, are competitive but limited due to the freezing of new participants after 1996. This places the company slightly behind competitors that offer more flexible or modern retirement plans, although its pension benefits remain a strong feature for eligible long-term employees(Halliburton_2_27_2015_H…).

How is the financial health of the Halliburton Retirement Plan monitored, and what measures are in place to ensure that the plan remains funded adequately to meet the obligations to its participants? Delve into the regulatory requirements that Halliburton must adhere to, including any recent updates to the IRS regulations in 2024.

Monitoring Financial Health: Halliburton monitors the financial health of its retirement plan through regular actuarial reviews to ensure that it remains adequately funded. The company adheres to IRS regulations and uses plan assets to cover necessary expenses, ensuring the plan can meet obligations to participants(Halliburton_2_27_2015_H…).

What role do Halliburton employees play in influencing the future of the retirement plan? Discuss any avenues available for employees to provide feedback or suggestions regarding changes to the retirement plan offerings or structure.

Employee Influence: While Halliburton employees may not directly influence retirement plan policy changes, they can provide feedback through the Benefits Center. However, changes to frozen plans are rare, so employee input may have limited impact on restructuring or reopening the plan(Halliburton_2_27_2015_H…).

What specific resources does Halliburton offer to employees for learning about and planning their retirement, and how can they be leveraged effectively? Discuss the importance of these resources in helping employees make informed decisions about their retirement.

Retirement Resources: Halliburton offers resources such as retirement planning tools and access to benefits counselors to help employees make informed decisions about their retirement. These resources are crucial in helping employees understand their retirement options and optimize their benefits(Halliburton_2_27_2015_H…).

How can employees at Halliburton contact the company to learn more about the retirement plan and its provisions? What specific contact methods or resources are available for employees seeking further information or assistance regarding their retirement benefits?

Contacting Halliburton: Employees seeking more information about their retirement benefits can contact the Halliburton Benefits Center directly. This service provides guidance on plan details, distribution options, and general retirement inquiries, ensuring employees have access to the assistance they need(Halliburton_2_27_2015_H…).