So, that means I have to work for 50 more years...

Is what I said when I left my 1:30pm meeting today where the topic was "what to do about our current retiree medical plan".  With the costs rising each year, leaving retirees unable to continue to afford the plan, in the same breath leaving those with preexisting conditions unable to find alternative plans - I wondered where does that leave me?

1 - Contemplating how I am going to fast forward my career plan to make the big bucks

2 - Finding me a rich husband who will be able to afford a stand alone retiree medical plan for the both of us 

3 - Prying me out of my blogging slump - which is due to my busiest time of year at work: Open Enrollment, followed by Thanksgiving, Christmas and New Years holidays.

Needless to say, picturing working until I am 80 has definitely got my creative juices flowing, my mind churning and my fingers typing.

Bon Voyage... I think?

There have been a number of voluntary resignations at my place of employment recently.  Some off to other jobs - better in their eyes of course, some to take on their dream job completely opposite of what they were doing, others to retire and a couple to tend to their young offspring.  In this economy I think its great, when someone can decide to leave their job, for whatever reason they choose.  My question however leads to the good bye. 

The department that I work for (Human Resources) has this very strict policy to not acknowledge the person's departure if they are leaving to go to another company.  Not acknowledging is actually an understatement - sometimes I didn't even know the person was leaving until days before their last day.  I will have to do some further research on this school of thought, because I've seen departments in the same building celebrate the progression of soon-to-be former employees.  Unlike when someone retires, there of course is this great party, with decorations and a catered spread, or I even had a coworker resign because her husband received a great job offer out of state.  I totally agree that in these situations - food, some cake and punch or even an after work dinner would be in order - especially if they were a valued employee who did a great job!

But - then a part of me says, although an elaborate send off is not necessary for the employee who is mentally screaming "deuces" from the top of their lungs, off to their bigger and better job - an acknowledgement and thank you for their work and skills they brought to the company would be a nice courteous and ethical gesture.  No matter their choice - you can't deny their contributions to the company, you just can't.   

This clearly is not a direct science as to how you part ways with your staff/colleague, because some employees may have not have been the best employee anyway, but a little thought and your best judgement can come in handy when their last day arrives.  Even if it's just some bagels and coffee the manager can gather the team to say thank you for your services and best of luck to you in your endeavors!  OR if the company would be better off without them, an email blast to your team to say thanks and encourage the staff to drop by and say good bye and good luck.

That's not hard to do - it's really not.

401(k) Guys and Gals!

Happy Monday!  This week my department is putting on 401(k) educational seminars as part of our financial education initiative for our employees.  Although I've gotten pretty knowledgeable about 401(k) plans since my first job 6 years ago - you can never know too much about your plan.

So, after sitting through my 3rd meeting today (when this is complete I would have sat through 6 meetings total!), I thought to share my two cents on the subject. 

Starting out in your career retirement can seem like a very distant destination, but whether your company's 401(k) record keeper is Fidelity, New York Life, Vanguard, ADP or any other administrator here are 5 things you might want to consider now and throughout your career:

• Contributing $$
• Contributing to the company match max - so that you don't leave free money on the table.  If your company does not match - still contribute your pre-tax dollars.
• Staying educated.  If you know how to pick your funds, or you set up a pre-selected fund based on your retirement goals, make sure you revisit and reassess your or selections as time passes to make sure you are staying on track.
• Avoid taking a loan against your account if you can - it's possible you'll be subject to twice the tax implications as you repay it.
• Rollover eligible 401(k) accounts from previous employers if your plan allows, to keep all your accounts in place.

Happy Saving, preparing for retirement, or whatever else you may want to call it!