Retirement for many is not what it’s cracked up to be. After awhile experiencing the golden years becomes more a chore than a relaxation. Many retirees are seeking jobs to get back into the workplace.
At the University of Illinois at Urbana-Champaign, a new retiree rehire policy recently took effect. The human resources department has many new rules and regulations about how to rehire a former University of Illinois employee out of retirement.
If you’re a former university employee seeking “retirement” after retirement, ensure you understand entitlement to annuity as stated in the Illinois Public Act 097-0968 oriented to laws governing annuity for retirees in Illinois.
This bodes well for all retirees who may think that once they leave their last formal job they have to stay unemployed. Not so! There are many avenues for retirees to consider when contemplating what to do with more time on their hands.
According to a study of 6,300 people age 45+ by Merrill Lynch and Age Wave, people are looking forward to retirement as a time to reinvent and explore new opportunities they only dreamed about. This period of time for Boomers is called the “longevity bonus.”
When people retire from a place of employment where they’ve spent years forging relationships under the same corporate banner, leaving to retire can be full of sorrow and depression.
There are opportunities to mitigate these feelings. This New York Times article about retiree clubs linked to former employers shares stories about how people are capitalizing on opportunity.
Some activities lead to philanthropy and others lead to unexpected entrepreneurship.
The core message here is to adopt a carpe diem approach to retirement rather than a woe is me attitude. Companies still require the savvy smarts of retirees and those with interest and drive can still contribute to society in a plethora of ways.