Discover the Top 5 Advantages of Continuing to Work in Retirement for Motorola Solutions Employees

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 Motorola Solutions.

1. Mental Benefits

Working during your Motorola Solutions 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 Motorola Solutions 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 Motorola Solutions 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 Motorola Solutions.

Articles you may find interesting:

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 types of retirement savings plans does Motorola Solutions offer to its employees?

Motorola Solutions offers a 401(k) retirement savings plan to help employees save for their future.

How does Motorola Solutions match employee contributions to the 401(k) plan?

Motorola Solutions provides a company match on employee contributions, which helps enhance the overall savings for retirement.

What is the maximum contribution limit for the Motorola Solutions 401(k) plan?

The maximum contribution limit for the Motorola Solutions 401(k) plan is determined by IRS guidelines, which can change annually.

Can employees of Motorola Solutions choose how their 401(k) contributions are invested?

Yes, employees of Motorola Solutions can choose from a variety of investment options to allocate their 401(k) contributions based on their individual risk tolerance and retirement goals.

Is there a vesting schedule for the Motorola Solutions 401(k) match?

Yes, Motorola Solutions has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched contributions.

How can Motorola Solutions employees access their 401(k) account information?

Employees can access their 401(k) account information through the Motorola Solutions employee portal or by contacting the plan administrator.

What happens to my Motorola Solutions 401(k) if I leave the company?

If you leave Motorola Solutions, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Motorola Solutions plan if eligible.

Are there any fees associated with the Motorola Solutions 401(k) plan?

Yes, there may be fees associated with the Motorola Solutions 401(k) plan, which can include administrative fees and investment-related fees. Employees can review the plan documents for detailed information.

Does Motorola Solutions offer any educational resources for employees regarding retirement planning?

Yes, Motorola Solutions provides educational resources and workshops to help employees understand retirement planning and make informed decisions about their 401(k) savings.

Can Motorola Solutions employees take loans against their 401(k) savings?

Yes, Motorola Solutions allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Name of Pension Plan: Motorola Solutions Pension Plan Years of Service and Age Qualification: Employees generally qualify for the pension plan if they meet the minimum vesting requirements, which typically include a certain number of years of service. The age requirement usually aligns with standard retirement ages, but specific details can vary. Pension Formula: The pension formula is often based on a combination of years of service and average earnings. For Motorola Solutions, the formula used in 2022-2024 is detailed in the company's official plan documents. Name of 401(k) Plan: Motorola Solutions 401(k) Savings Plan Who Qualifies: Eligibility for the 401(k) plan typically includes all full-time employees. Specific details regarding enrollment dates and eligibility can be found in the plan documents.

Restructuring and Layoffs: Motorola Solutions has been undergoing restructuring as part of its strategic realignment. In 2023, the company announced a reduction in its global workforce by approximately 5% to streamline operations and focus on its core areas of growth. This restructuring aims to improve efficiency and profitability amidst economic uncertainties. Given the current economic climate and investment environment, such strategic adjustments are crucial for companies to remain competitive and adapt to market fluctuations. It is important for stakeholders to follow such developments to understand how these changes might affect job security and company performance. Company Benefits and Pension Changes: Motorola Solutions has also made adjustments to its employee benefits package and pension plans in response to the evolving economic landscape. In 2024, the company updated its 401k plan, including increased employer matching contributions to support employees' retirement savings. Additionally, changes were made to its pension plan to ensure sustainability amid economic challenges. These updates are significant as they impact employees' financial planning and security. Staying informed about these changes is vital in the current investment and tax environment, as it helps employees make informed decisions about their financial futures.

Motorola Solutions provided stock options and RSUs as part of their compensation packages. Employees eligible for stock options and RSUs typically include senior executives, key employees, and high-performing individuals. Motorola Solutions uses RSUs to align employee interests with company performance and shareholder value.

Benefits Overview: Motorola Solutions provides comprehensive health benefits to its employees, including medical, dental, and vision coverage. They offer plans with options for health savings accounts (HSA) and flexible spending accounts (FSA). There are also wellness programs and mental health resources. Key Terms/Acronyms: HSA (Health Savings Account), FSA (Flexible Spending Account), EAP (Employee Assistance Program), PPO (Preferred Provider Organization).

Additional Articles

Check Out Articles for Motorola Solutions employees

For more information you can reach the plan administrator for Motorola Solutions at , ; or by calling them at .

https://www.thelayoff.com/ https://www.bloomberg.com/asia https://www.reuters.com/ https://pensionrights.org/ https://www.motorolasolutions.com/en_xp.html?geo=redirect