| We often think of retirement as "the golden | | | | announcements, the company intranet, and |
| years." It can be--for those who have planned | | | | announcements at staff meetings. Any |
| well for the social, emotional, physical, and financial | | | | improvements in the plan should be officially |
| changes that take place. Those who fail to plan | | | | announced in a written document distributed to all |
| may find that the gold is brass. | | | | employees. |
| As the first wave of baby boomers approach | | | | Pre-retirement seminars |
| their mid-60s, retirement has become an | | | | While it's important for all employees to be aware |
| increasingly important issue. Unlike their parents, | | | | of the retirement benefits you offer, it's even |
| this new breed of senior citizen can expect at | | | | more important for older employees to |
| least 15 to 20 years or more of relatively healthy | | | | understand exactly what that means for them. |
| retirement or even another career. With the cost | | | | Consider offering pre-retirement seminars to help |
| of pensions and health care, companies are | | | | employees prepare well in advance, as much as |
| restructuring their retirement plans to programs | | | | 15 or 20 years. Get them to think about where |
| that put more responsibility on the worker and | | | | they're going to live, sources of income, what to |
| less on the corporation. This is why you should | | | | do with their time, the possibility of starting a new |
| keep your employees informed about their | | | | career, and so on. |
| retirement benefits and help those nearing | | | | Ease the transition |
| retirement age prepare for the transition. | | | | In addition to helping employees prepare for |
| Start early | | | | retirement, help them make the transition itself. |
| Mention retirement benefits to all new hires, | | | | Consider offering the option of scaling back work |
| regardless of age. One way to get younger | | | | schedules as staffers near retirement. |
| employees to start planning for retirement is to | | | | Almost-retirees may work 30 hours a week for |
| tie the planning into their current priorities. For | | | | several months, then drop to 20 for a while |
| instance, if your company offers a 401(k) | | | | before actually leaving the company. |
| program, promote it as a way to save for later | | | | You might also ask retirees to return to work as |
| years while also reducing current tax liability. | | | | temporaries or to cover during peak periods. This |
| Keep the communication channels open | | | | is entirely up to the individual, of course, but it |
| If you contribute to a 401(k) or other retirement | | | | gives them an opportunity for productive work |
| program, remind employees regularly that you are | | | | and lets the company benefit for their years of |
| setting money aside for their future. If employees | | | | accrued knowledge and experience. |
| don't remember that their retirement benefits are | | | | Retirement benefits are valuable, and simply |
| valuable, the benefits themselves won't fulfill one | | | | reminding employees of them can ensure that |
| of their main purposes, which is rewarding | | | | they're perceived as valuable. Pre-retirement |
| employees for staying with the organization. Use | | | | planning shows that your organization really cares |
| a variety of communication channels, including the | | | | about its employees, and workers of any age |
| company newsletter, special mailings, e-mail | | | | appreciate that. |