How to get the most out of 5 key job benefits after 50

As more people are choosing to work longer, out of preference or necessity, the value of employee benefits are shifting, too. Christina Matz, director of Boston College’s Center on Aging

& Work, says workers aged 50 and older can maximize their employee benefits by being strategic and proactive in thinking about immediate and long-term needs. “While certain benefits may

take on increased significance as workers age—such as those related to financial planning, health care, skill development, flexibility, caregiving support and legal preparedness—these

priorities are highly personal and depend on a variety of factors,” she says. Those may include caregiving responsibilities and your own health status. Job benefits vary from employer to

employer and often depend on whether you’re working full-time or part-time. Check with your company’s human resources team to find out all the benefits available to you. To get the most

value from the benefits option available to you, there are a few things to keep in mind. 1. RETIREMENT SAVINGS Retirement benefits are a top concern for employees overall. The 2024 Workplace

Wellness Survey from the Employee Benefits Research Institute and Greenwald Research found that 69 percent of respondents were “very concerned” or “somewhat concerned” that their employers

would reduce or eliminate retirement benefits. Almost half (48 percent) are stressed about saving enough for retirement. Craig Copeland, director of wealth benefits research at the nonprofit

Employee Benefit Research Institute, says workers who are eligible for employer-sponsored retirement 401(k) savings plans that offer matching contributions should try to contribute at least

enough to receive the maximum match. From there, decisions may be more complex. For example, people age 50 and older may be eligible for an additional $7,500 in “catch-up” contributions in

their employer-sponsored plans or in individual retirement accounts (IRAs). In 2025, the SECURE 2.0 Act also allows for a so-called “super catch-up” contribution amount of $11,250 for people

aged 60 through 63 who participate in these plans. Copeland says that health savings accounts (HSAs) may also be an important part of maximizing retirement contributions. If you are

eligible for an HSA in conjunction with a high deductible health insurance plan, you may choose to prioritize saving there once your employer match threshold is met. “There could be a

trade-off there: Make sure you get the maximum 401(k) match, then make sure your [HSA] is funded, then go back to funding your retirement account,” he says. It’s a good idea to make these

decisions with the assistance of a financial advisor. 2. FINANCIAL AND LEGAL ADVISORY SERVICES In some cases, employers offer financial and other support services that can be helpful in

navigating this stage of life, Matz says. “Some employers offer legal benefits, such as access to estate-planning services or consultations with legal professionals,” she says. If you need

to make long-term financial decisions, prepare a will, create a trust or otherwise ensure that legal or financial affairs are in order, these resources can be invaluable.