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In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.(1) As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits you can enjoy after you retire from McAfee.
1. Mental Benefits
Working during your McAfee retirement can help maintain mental agility as you learn new skills. Staying engaged in work helps build 'mental muscle,' which can lessen the risk of developing dementia and Alzheimers(2) and ward off the signs of aging.
2.. Physical Benefits
Staying active during your McAfee retirement years is crucial for continued health. Whether you choose to work full-time or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.
3. Financial Benefits
Besides the obvious extra income, working during your McAfee retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.(3) Finding a strategy that works for you can truly pay off.
4. Emotional Benefits
Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your years or retirement from McAfee.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
5. Social Benefits
One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.
Sources
1. AARP.org, February/March 2015
2. Forbes, 2017
3. Social Security Administration, 2017
4. Association for Psychological Science, 2017
What is the 401(k) plan offered by McAfee?
The 401(k) plan offered by McAfee is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How can I enroll in McAfee's 401(k) plan?
Employees can enroll in McAfee's 401(k) plan through the company’s HR portal during the open enrollment period or upon starting employment.
Does McAfee match contributions to the 401(k) plan?
Yes, McAfee offers a company match on employee contributions to the 401(k) plan, which enhances your retirement savings.
What is the maximum contribution limit for McAfee's 401(k) plan?
The maximum contribution limit for McAfee's 401(k) plan is in accordance with IRS guidelines, which may change annually.
Can I change my contribution rate to McAfee's 401(k) plan?
Yes, employees can change their contribution rate to McAfee's 401(k) plan at any time through the HR portal.
What investment options are available in McAfee's 401(k) plan?
McAfee's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
When can I access my funds in McAfee's 401(k) plan?
Employees can access their funds in McAfee's 401(k) plan upon reaching retirement age, or under certain circumstances such as financial hardship.
Is there a vesting schedule for McAfee's 401(k) plan?
Yes, McAfee has a vesting schedule for company contributions, meaning employees must work for a certain period to fully own the employer match.
Can I take a loan from my 401(k) plan at McAfee?
Yes, McAfee allows employees to take loans from their 401(k) plan, subject to specific terms and conditions.
What happens to my 401(k) plan if I leave McAfee?
If you leave McAfee, you can choose to roll over your 401(k) balance to another retirement account, leave it with McAfee, or cash it out.
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5. BenefitsPRO, 2017