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

'TD Synnex 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 TD Synnex 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 TD Synnex 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 TD Synnex 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 TD Synnex 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:

TD Synnex 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.

TD Synnex 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. TD Synnex 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 TD Synnex 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 TD Synnex 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 TD Synnex 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. TD Synnex 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, TD Synnex 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 TD Synnex 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 key features of the retirement plans offered by TD that differentiate it from other companies in the industry, and how do these features benefit employees nearing retirement? Employees might be interested in understanding the specifics of the defined benefit pension plan, the 401(k) options, and any contributory plans, particularly how TD's offerings can provide financial security in their retirement years.

Key Features of TD Retirement Plans: TD offers an industry-leading, fully bank-paid defined benefit pension plan, particularly for eligible employees with salaries up to the Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) maximum pensionable earnings. For salaries exceeding that threshold, an optional contributory pension plan is available. Additionally, TD provides a 401(k) retirement plan, including a bank contribution between 2% and 6% of pay and a match up to 4.5%, allowing employees to receive up to 10.5% in retirement savings contributions. This combination of pension and 401(k) benefits ensures robust financial security for employees nearing retirement(TD_Overview_of_Benefits…).

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Maximizing Pension Contributions and Benefits: TD employees can maximize their pension contributions and benefits by fully utilizing both the defined benefit plan and the 401(k) retirement plan. By contributing the maximum amount to the 401(k), employees can take full advantage of TD's matching contributions, significantly boosting their retirement savings. Participation in the Employee Future Builder Program, which encourages saving through payroll deductions and lump sums, can also help employees optimize their retirement outcomes(TD_Overview_of_Benefits…).

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Health and Wellness Support: TD promotes employee health and wellness through a comprehensive benefits plan that covers medical, dental, disability, and vision care. Employees also have access to health consultation services and various wellness tools, such as online health risk assessments and on-site wellness services like massages and flu shots. These initiatives support overall employee well-being and contribute to higher satisfaction and retention rates(TD_Overview_of_Benefits…).

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Healthcare Benefits in Retirement: TD provides retiree medical and dental benefits to eligible groups, though some of these plans have been closed to new members in the U.S. Continuity of care is ensured through subsidized coverage, helping retirees manage their healthcare needs as they transition from active employment to retirement(TD_Overview_of_Benefits…).

How do the retirement savings plans at TD compare with industry standards in terms of employer contributions and matching programs, and what implications does this have for employees' long-term financial health? Employees would benefit from a comparison that highlights TD's competitive advantages and the potential impact on their retirement savings over time.

Comparison with Industry Standards: TD's retirement savings plans stand out in the industry due to its generous 401(k) matching program, where the bank matches up to 4.5% of employee contributions, alongside a fixed contribution of up to 6%. This level of employer contribution exceeds industry averages, significantly enhancing employees' long-term financial health(TD_Overview_of_Benefits…).

What resources are available to TD employees who need assistance navigating their benefits and retirement options, and how can these resources help with decision-making as they approach retirement? This could cover the Employee Assistance Program, financial advisory services, and other tools that help employees make informed decisions regarding their benefits.

Resources for Navigating Benefits: TD offers several resources to help employees navigate their benefits, including financial advisory services through the Employee Assistance Program (EAP) and tools such as the Employee Future Builder Program. These resources help employees make informed decisions about their benefits, particularly as they approach retirement(TD_Overview_of_Benefits…).

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Employee Ownership Plan: TD’s Employee Ownership Plan allows employees to purchase TD shares with the company matching 100% of the first $250 and 50% of additional contributions, up to a maximum of 3.5% of eligible earnings. This plan enhances employees’ financial security by giving them a stake in the company’s success, which can be an attractive retirement savings strategy(TD_Overview_of_Benefits…).

What is the process for TD employees to transition from their current roles to retirement, and what support does TD provide to ensure a smooth transition? Employees might look for details on informational sessions, retirement planning workshops, and personalized support that TD offers to facilitate this important life change.

Transitioning to Retirement: TD supports employees transitioning into retirement through informational resources, such as workshops and planning sessions. Personalized support is available to help employees navigate the various aspects of retirement planning, ensuring a smooth and well-supported transition from work to retirement(TD_Overview_of_Benefits…).

How can employees at TD keep informed about changes in retirement benefits and other important updates, and what channels are available for them to receive this information? This relates to the necessity of ongoing communication between TD and its employees about benefits.

Staying Informed About Benefits: TD communicates changes to retirement benefits through various channels, including internal communication platforms and regular updates from the human resources department. Employees can stay informed about important updates by accessing these resources and participating in informational sessions provided by TD(TD_Overview_of_Benefits…).

How can TD employees contact the company directly to learn more about their retirement options, and what personnel or resources are specifically dedicated to assisting them with retirement planning? Employees need clarity on whom to approach and what methods of communication (such as phone, email, or in-person consultations) they can use to get accurate information.

Contacting TD for Retirement Information: Employees can contact TD directly to learn more about their retirement options through the human resources department or financial advisory services. TD provides dedicated personnel and resources, such as in-person consultations and phone support, to assist employees in retirement planning(TD_Overview_of_Benefits…).