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Why Unisys Corporation Employees Are Embracing Retirement Jobs – It’s Not Just About Money

'Increasingly, Unisys Corporation retirees are recognizing that their retirement plans need to evolve with rising costs and changing expectations—side gigs provide not only additional financial security but also a sense of purpose and fulfillment, crucial for a well-rounded retirement experience.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Many Unisys Corporation retirees are finding that returning to work in some capacity offers more than just extra income; it enhances their mental and social well-being, providing both financial and personal fulfillment during their post-career years.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

The financial challenges retirees are facing, including inflation and rising healthcare costs.
The growing trend of retirees pursuing side jobs or gigs for additional income and personal fulfillment.
The broader benefits of working in retirement, such as maintaining mental health, purpose, and social engagement.

Many Unisys Corporation retirees are discovering that their ideal retirement scenario is not as financially stable as they had imagined, especially as the financial landscape continues to shift. The reality of living on a fixed income has brought unexpected challenges for many. A record 11.2 million Americans over 65 are employed today, with this number expected to rise to 14.8 million, or 8.6% of the workforce, by 2033, according to the U.S. Bureau of Labor Statistics. Once thought to be uncommon, this trend is becoming more widespread as retirees look for additional income to cover rising living costs and maintain their desired lifestyles.

While many factors contribute to this shift, money concerns are at the core of the challenges retirees face today. A recent D.A. Davidson survey reveals that 60% of retired Americans wish they had a side career or gig, compared to just 8% who already do. A startling two out of five retirees say they can’t afford their dream retirement, emphasizing the growing financial strain on this group, including those who retired from Unisys Corporation.

Undoubtedly, inflation has played a significant role in this shift. In recent years, the cost of living, including essentials like groceries and gas, has seen a sharp increase. Many retirees, including those who spent years at Unisys Corporation, are finding that their money doesn’t go as far as they had hoped, especially after entering retirement with expectations about their lifestyle. The uncertainty surrounding Social Security only adds to the problem. While the Social Security trust fund is not expected to run out of funds until 2035, many retirees are concerned about the future of this vital financial support, particularly as life expectancies rise and the fund’s long-term viability is questioned.

Retirement planning is also affected by personal factors beyond inflation and Social Security concerns. Many retirees, even those from companies like Unisys Corporation, don’t have enough saved for retirement, and some even carry significant debt into retirement. Additional financial pressures, such as supporting aging parents or adult children, can also strain retirement funds. Medical costs only make matters more challenging; according to Fidelity Investments, a 65-year-old retiring in 2024 can expect to spend an average of $165,000 on healthcare throughout retirement. These costs can create a significant gap between expectations and reality, highlighting the need for additional income.

A side job can provide more than just financial stability, even for retirees who aren’t facing immediate financial challenges. Many find that working in retirement helps them stay engaged and gives them a sense of purpose. According to the D.A. Davidson poll, 55% of seniors with retirement gigs cite maintaining social or mental engagement as their primary motivator, and 93% of retirees with side jobs report that they love their work. This highlights the broader reality that employment, even in retirement, provides a framework that supports mental and physical well-being for retirees, including those who worked at Unisys Corporation.

Take Andy Roy, a 74-year-old retiree from Saratoga Springs, New York. After a long career working for himself, Roy began mowing the grass at the Albany Rural Cemetery a few days a week four years ago. Roy admits that while the job pays well, the true benefit is the sense of purpose it provides. “It’s beneficial. I feel like I’m helping. It serves as a small anchor during the day and gives me a sense of purpose,” he says. Beyond the work, Roy has formed close friendships with his coworkers and developed an interest in the rural cemetery movement. While the pay is appreciated, he acknowledges that the sense of fulfillment is the true reward, something Unisys Corporation retirees may also discover after leaving their careers.

Similarly, 72-year-old Merry Farnum, a retiree from Falmouth, Maine, has taken on a new challenge as a launch driver at Handy Boat, a local boatyard. After working as an Associated Press news photographer, Farnum now spends her days transporting people between land and their boats, a job that keeps her active and outdoors. “The biggest payoff is the challenge and the structure it gives my life,” she says, noting that the money is useful, but the real motivation is the sense of accomplishment. Farnum’s experience demonstrates that working in retirement can offer financial stability while enriching one’s life, just like retirees from Unisys Corporation who take on new challenges in their post-career years.

In recent years, the demand for such opportunities has surged. With the growth of the gig economy, retirees, including those who spent years with Unisys Corporation, can now pursue work that aligns with their interests and abilities, free from the constraints of the 9–5 schedule. Thanks to platforms that facilitate side jobs—like tutoring, freelancing, pet sitting, and driving for ride-sharing services—retirees can find work that is both financially rewarding and personally fulfilling. This flexibility allows retirees to decide how much they want to work, balancing their financial needs with the desire for leisure and personal time.

It’s important to consider the potential benefits of side gigs beyond just the financial stability they provide. Many retirees, including former Unisys Corporation employees, seek a sense of purpose and belonging after leaving the workforce, which can be found through freelance or part-time employment. Maintaining an active lifestyle can also boost cognitive function and lower the risk of depression, issues that are common among retirees who may feel isolated or disconnected.

However, retirees considering whether to pursue a side job should also be aware of potential impacts on taxes, health benefits, and Social Security. Income from a side job may affect Social Security benefits depending on when an individual starts receiving them and how much they earn. It is also crucial to consult a financial advisor to fully understand the tax implications of extra income and how it fits into the broader retirement strategy, especially for Unisys Corporation retirees looking to get the most out of their post-career years.

In conclusion, more and more retirees are incorporating side gigs or retirement jobs into their retirement plans. While financial strains, like inflation and rising healthcare costs, are pushing many to seek additional income, the benefits of working in retirement go beyond just financial gain. Retirement jobs help retirees maintain an active and rewarding lifestyle, offering social interaction, mental stimulation, and a renewed sense of purpose. Whether it’s for debt repayment, growing retirement savings, or simply staying involved, retirement work is an essential component of a fulfilling post-career life for former Unisys Corporation employees, as well as other retirees.

A recent AARP study reveals that many seniors over 65 are working not only for extra income but for mental and social engagement as well. According to the report, nearly 60% of part-time working retirees cite the opportunity to stay active and connected with their communities as a primary motivator. Work provides an organized way to maintain mental sharpness and social connections, crucial elements for well-being as individuals live longer. AARP’s December 2024 article, 'The Benefits of Working in Retirement,' discusses these findings, which also resonate with Unisys Corporation retirees.

Examine how more and more retirees are seeking side employment for mental stimulation, purpose, and social interaction in addition to extra income. With inflation, healthcare costs, and concerns about Social Security, many retirees—including those who worked for Unisys Corporation—are turning to flexible work options to stay active and enhance their retirement experience. Discover how part-time jobs, such as driving a boatyard launch or working at a local cemetery, are helping retirees reach financial stability while maintaining fulfilling, structured lives. The growing trend of working in retirement offers advantages that go far beyond financial gain.

Retirement is like a car that’s been sitting idle in the driveway for years. It runs fine, but without regular maintenance and direction, it may start to feel uninspired. Just like a car needs fuel, upkeep, and a destination, retirees are finding that side gigs provide more than just extra income—they give a sense of purpose, a chance to connect with others, and an opportunity to maintain both physical and mental health. Rediscovering purpose is more important than simply reentering the workforce, something many Unisys Corporation retirees are discovering as they explore new roles after their careers.

Articles you may find interesting:

Source:

Riquier, Andrea. 'Why a Record Number of Adults Over 65 Are Working – And It’s Not Just About Money.' MarketWatch , 30 Apr. 2025, pp. 1-2. marketwatch.com .
'Financial Impact of Side Jobs on Retirement Savings.' AARP Research , 2018, pp. 3-4. aarp.org .
'How Side Gigs Can Improve Mental Health for Retirees.' RL Communities Blog , 2023, pp. 1-2. rlcommunities.com .
'The Benefits of Social Engagement for Seniors.' Baptist Retirement Community Blog , 2024, pp. 2-3. baptistretirement.org .
Barron's Staff. 'Retirees Face Sticker Shock on Healthcare Costs If They Don’t Prepare.' Barron's , 8 Aug. 2024, pp. 1-2. barrons.com .

What specific retirement options are available to employees of Unisys, and how do these options vary in terms of financial benefits, including considerations for early retirement vs. normal retirement age? In the context of the Unisys Pension Plan, what implications do these options have on long-term financial planning for employees at Unisys?

Retirement Options at Unisys: The Unisys Pension Plan provides options for normal, early, and unreduced retirement. Normal retirement is at age 65, and early retirement is available between ages 55 and 65, though benefits may be reduced for early retirement. Employees with at least 20 years of vesting service can retire without reductions from age 62. These options influence long-term financial planning as choosing early retirement may result in reduced benefits due to longer payout periods(Unisys_Corporation_Summ…).

How are pay credits calculated under the Unisys Pension Plan, and what factors might influence an employee's monthly pay credit pertaining to their Retirement Accumulation Account? Moreover, what are the potential impacts on retirement benefits if employees experience changes in their eligible pay during employment at Unisys?

Pay Credits Calculation: Pay credits under the Unisys Pension Plan were calculated at 4% of an employee’s eligible monthly pay from January 1, 2003, through December 31, 2006. Interest credits continue to accrue after this period until benefits are distributed. Changes in an employee’s eligible pay during employment will affect the total pay credits, thus impacting their retirement accumulation account(Unisys_Corporation_Summ…).

Can you explain the differences between credited service, eligibility service, and vesting service as defined by Unisys? What importance do these distinctions have on an employee's ability to access their retirement benefits, and how does each type of service contribute to the overall calculation of an employee's pension under the Unisys plan?

Service Types at Unisys: Credited service refers to the period used to calculate pension benefits, vesting service determines eligibility for receiving benefits, and eligibility service is the time required to become a participant in the plan. These distinctions are critical because credited service directly affects the benefit calculation, while vesting and eligibility service ensure employees qualify for benefits(Unisys_Corporation_Summ…).

What steps must Unisys employees take to initiate their pension benefits, and what specific information will they need to provide during the application process to ensure a smooth transition into retirement? Additionally, how does Unisys support employees in navigating this process, and what potential delays should employees be aware of?

Initiating Pension Benefits: To initiate pension benefits, employees must contact the Unisys Benefits Service Center and apply for their benefits. They must provide personal and employment details, including retirement age and chosen payout method (lump sum or annuity). Unisys supports employees through this process via their benefits service center, but delays can occur due to incomplete information or processing times(Unisys_Corporation_Summ…).

In what ways does the Unisys Pension Plan ensure protection for employees' benefits under federal law, particularly through the Pension Benefit Guaranty Corporation (PBGC)? How does this insurance work in practice, and what types of benefits are specifically covered or not covered by the PBGC for Unisys employees?

PBGC Insurance: Unisys Pension Plan benefits are protected under the Pension Benefit Guaranty Corporation (PBGC), ensuring employees receive guaranteed benefits even if the plan is terminated. However, certain benefits, such as non-qualified plans or supplemental executive retirement plans, may not be covered under PBGC(Unisys_Corporation_Summ…).

How might changes or amendments to the Unisys Pension Plan affect existing and future employees? In particular, what provisions does Unisys have in place to communicate significant changes in the plan to its employees, and what rights do employees have under ERISA if they disagree with these changes?

Impact of Plan Amendments: Any amendments to the Unisys Pension Plan could affect both existing and future employees. Unisys communicates significant changes through written notifications. Employees have rights under ERISA, including the right to challenge plan changes if they disagree with amendments that negatively affect their benefits(Unisys_Corporation_Summ…).

What considerations should employees of Unisys keep in mind regarding their benefits if they are nearing retirement age? Additionally, how can employees effectively prepare for potential changes to their health or work circumstances that could impact their retirement planning, given the options provided by Unisys?

Retirement Preparation: Employees nearing retirement should consider the timing of benefit elections, such as early or normal retirement. Preparing for potential health changes or shifts in work circumstances is essential, as these factors may alter retirement needs and benefit choices under the Unisys Pension Plan(Unisys_Corporation_Summ…).

What are the options available for Unisys employees who wish to designate beneficiaries for their retirement benefits, and how do these designations affect benefit distributions? Specifically, what criteria must be met for naming a contingent annuitant, and what restrictions might apply under the Unisys plan?

Beneficiary Designation: Unisys employees can designate beneficiaries for their retirement benefits. If a spouse is not the beneficiary, spousal consent may be required. A contingent annuitant can also be designated under certain restrictions, affecting the distribution of retirement benefits based on Unisys’ rules(Unisys_Corporation_Summ…).

How does the Unisys Benefits Service Center operate, and what resources are available for employees seeking information about their pension plans or retirement benefits? What are the best practices for contacting the Unisys Benefits Service Center to ensure that employees receive timely and accurate answers to their inquiries?

Unisys Benefits Service Center: The Unisys Benefits Service Center provides employees with resources for pension inquiries and applications. Best practices for contacting them include preparing all necessary personal and employment details to ensure timely and accurate responses(Unisys_Corporation_Summ…).

What are the most important elements of the Unisys Pension Plan that employees should review before retirement, and how can employees leverage the information provided in the summary plan description to optimize their retirement income? What role does employee education play in enhancing knowledge about these elements and ensuring informed decision-making about retirement benefits at Unisys?

Critical Pension Plan Elements: Employees should review their Retirement Accumulation Account, service years, and payout options before retirement. The summary plan description is a valuable resource for understanding how to maximize retirement income, and Unisys offers educational tools to help employees make informed decisions(Unisys_Corporation_Summ…).