As employees approach retirement, it is essential to have a comprehensive understanding of the retirement benefits and options available to them. This article outlines the key components of preparing for retirement at Bassett Health, with a focus on 401(k) management and other relevant information to ensure a smooth transition into retirement.

At Bassett Health, we recognize the importance of planning for retirement. Our retirement benefits are designed to support employees in achieving their financial goals as they transition into this new phase of life. Key components include the 401(k) plan, pension options, and other retirement savings programs.

The 401(k) plan is a critical element of retirement planning for employees at Bassett Health. Here are some important aspects to consider:

• Enrollment: Employees are eligible to enroll in the 401(k) plan upon hire. It is crucial to complete the enrollment process to start contributing to your retirement savings.

• Contribution Limits: Employees can contribute a percentage of their salary to the 401(k) plan, up to the annual contribution limits set by the IRS. It is advisable to maximize contributions to take full advantage of tax benefits.

• Employer Match: Bassett Health offers a competitive employer match on employee contributions. Understanding the matching policy can significantly enhance your retirement savings.

• Investment Options: The 401(k) plan provides a variety of investment options, including mutual funds and target-date funds. Employees should review these options and select investments that align with their risk tolerance and retirement goals.

• Account Management: Regularly reviewing and managing your 401(k) account is essential. Employees should monitor their investment performance and make adjustments as needed to stay on track for retirement.

In addition to the 401(k) plan, Bassett Health offers various resources to assist employees in their retirement planning:

• Retirement Planning Workshops: Regular workshops are held to educate employees about retirement planning, investment strategies, and financial management.

• Financial Advisors: Employees have access to financial advisors who can provide personalized guidance on retirement savings and investment options.

• Retirement Calculators: Online tools are available to help employees estimate their retirement needs and assess their current savings progress.

Preparing for retirement is a crucial step for employees at Bassett Health. By understanding the 401(k) management process and utilizing available resources, employees can make informed decisions that will positively impact their financial future. It is never too early to start planning for retirement, and we encourage all employees to take advantage of the benefits and tools provided by Bassett Health.