Are you a young professional mapping out your career journey?
While it’s exhilarating to dive into the workforce, it’s equally important to think about your financial future, particularly your retirement. Your employer’s retirement benefits can be a game-changer when it comes to securing your financial well-being during your golden years.
This blog explores the retirement benefits offered by some of the BestCompaniesAZ partners.
By understanding these benefits, you can make an informed decision when choosing an employer and set yourself up for a financially secure future.
What Makes a Great Retirement Plan?
How do you identify companies with great retirement plans? This list should give you an idea of what to look for.
- Generous Employer Contributions: The employer significantly matches your contribution, amplifying the growth of your retirement savings. A dollar-for-dollar company match is ideal for retirement savings.
- Vesting Schedule: A rapid vesting schedule allows you to own employer contributions sooner, increasing your long-term benefits.
- Diverse Investment Options: The plan offers various investment options, enabling you to optimize your portfolio based on your risk tolerance and financial goals.
- Loan Provision: In case of financial emergencies, the plan allows you to borrow against your savings without incurring penalties.
- Educational Resources: The employer provides resources like financial planning tools and workshops to help you make informed decisions about your retirement savings.
In evaluating job opportunities, be sure to consider an employer’s retirement benefits package in addition to salary and other perks. Now, let’s look at some BestCompaniesAZ partners who are offering these to give you an idea of the perks you could enjoy.
Companies with the Best Retirement Plans
Workiva: Building a Strong Financial Foundation
Workiva, one of the leading companies in empowering organizations to make data-driven decisions, also empowers its employees to secure their financial future.
- 401(k) Plan: Workiva offers a 401(k) retirement plan, a tax-advantaged savings account that should be on every young professional’s radar. With this plan, you can contribute a portion of your salary towards your retirement savings.
- Employer Matching: What makes Workiva’s 401(k) plan even more enticing is the possibility of employer dollar matching. Some employers, including Workiva, may match a percentage of your contributions. This means free money going directly into your retirement savings.
- Investment Options: The funds in your 401(k) can be invested in various options, allowing you to choose the level of risk and potential return that aligns with your financial goals.
By offering these, Workiva sets the stage for young professionals to start building their nest egg early.
Axon: Empowering Young Professionals for a Secure Tomorrow
Axon, a company dedicated to making the world a safer place, also takes a strong stance on its employees’ financial security.
- 401(k) Plan: Axon provides a competitive 401(k) plan to eligible employees. Like Workiva, you can contribute a portion of your salary towards this plan.
- Employer Contribution: Here’s the kicker — Axon may match some of your contributions, effectively boosting your retirement savings. It’s like getting a bonus dedicated to your future self.
Axon’s commitment to its employees’ financial well-being is a testament to its dedication to making the world safer not only today but also in the future.
Northern Trust: Building Wealth and Trust in Retirement
Northern Trust, a global financial services company, knows the importance of a solid financial foundation for its employees.
- 401(k) Plan: Northern Trust offers a comprehensive 401(k) plan that allows employees to save for retirement while enjoying certain tax advantages.
- Company Matching: Just like the other companies mentioned, Northern Trust may contribute to your 401(k) by matching some of your contributions, giving your retirement savings a boost.
- Investment Choices: Northern Trust offers a range of investment options, giving you the flexibility to tailor your retirement portfolio according to your risk tolerance and financial goals.
- Pension Plan: Northern Trust offers full-time employees a generous pension plan with a competitive market rate and vesting schedule.
Northern Trust’s commitment to helping employees secure their financial future mirrors its dedication to helping clients achieve their investment goals.
Vanguard: Pioneering Your Path to Retirement Success
Vanguard, a renowned investment management company, understands that a secure retirement requires careful planning and smart choices.
- 401(k) Plan: Vanguard offers a 401(k) plan, a powerful tool that allows you to save for retirement with tax advantages.
- Generous Employer Match: Vanguard goes the extra mile by offering a generous employer match. This means that the company contributes to your 401(k) based on your own annual contributions, effectively increasing your retirement savings.
- Investment Expertise: With Vanguard’s expertise in investment management, you’ll have access to a wide array of investment options, helping you make informed decisions about your retirement savings.
Vanguard’s commitment to helping employees secure their financial future mirrors its dedication to helping clients achieve their investment goals.
Desert Financial Credit Union: A Financial Partner for Life
Desert Financial Credit Union: A Financial Partner for Life
Desert Financial Credit Union is a financial institution that understands financial security extends beyond retirement, which is why it offers comprehensive benefits.
- 401(k) Plan: Desert Financial Credit Union provides a 401(k) plan, allowing employees to save for retirement efficiently.
- Generous Matching: The credit union generously matches a percentage of employee contributions, turbocharging your retirement savings.
- Additional Financial Services: Beyond retirement benefits, Desert Financial Credit Union offers a range of financial services, including health and life insurance, ensuring you have a financial partner for life.
Desert Financial Credit Union’s commitment to its employees’ financial well-being goes hand in hand with its mission of providing financial solutions that enrich lives.
How to Find Employers with Great Retirement Benefits
As a young professional, securing a bright financial future starts with finding the right employer. Here are some considerations when seeking employers with excellent retirement benefits:
1. Company Culture and Values
Choose an employer whose values align with your financial goals and beliefs. A company that prioritizes employee financial well-being is more likely to offer attractive retirement benefits.
2. Compensation Package
Look beyond the base salary. Assess the entire compensation package, including retirement benefits, health insurance, and other perks. Sometimes, a lower salary with excellent benefits can be more advantageous in the long run.
3. Retirement Plan Details
Carefully review the specifics of the employer’s retirement plan. Consider factors such as the availability of a 401(k) plan, employer matching, and investment options. The more comprehensive the plan, the better.
4. Financial Education
Some employers offer financial education programs or resources to help employees make informed decisions about their retirement savings. Seek out companies that invest in your financial literacy.
5. Long-Term Commitment
Evaluate the company’s long-term commitment to its employees’ financial success. A track record of consistent retirement benefit offerings demonstrates dedication to your financial well-being.
Secure Your Future With An Employer That Truly Cares
Choosing an employer with excellent retirement benefits is a significant step toward securing your financial future. Companies like Workiva, Axon, Northern Trust, Vanguard, and Desert Financial Credit Union understand the importance of these benefits and are dedicated to helping you build a solid financial foundation.
By considering the factors mentioned above and exploring the offerings of these exceptional employers, you can pave the way for a financially secure future. Remember, investing in your future is not just a choice; it’s a smart decision that can lead to a lifetime of financial freedom.