Whether you realize it or not, you took your first steps toward retirement when you received your first paycheck. And ever since, your contributions to Social Security and your 401(k) Plan have continued to steer you toward retirement. As you approach that milestone, you’ll want to be sure you have the income and health care coverage you’ll need to live the life you envision after Seagate.

Planning Starts Now

If you poll 10 people who are preparing to retire—or who have retired recently—you’ll hear a similar refrain: “I wish I’d started planning for this sooner.” You can. Whether you’re in your 20s or your 60s, you can take steps now to ensure you can afford to retire when you want to and do what you’ve been dreaming of in your retirement years.

As you begin planning for retirement, think about how you’d complete these sentences.

  • I want to retire when I’m ___ years old, in the year 20__.
  • In retirement, I want to spend my time ________.
  • To retire securely, I’ll need to save $_________.
  • The retirement accounts that can help me best meet my savings goals are ________.
  • To meet my retirement savings goal, I’ll need to contribute $____ each month to my retirement savings accounts.
  • To ensure my savings grow to the amount I’ll need to retire, they should be invested in ________.
  • In retirement, I’ll pay for medical expenses and long-term care with _______.

Get a Handle on Your Finances

For curated advice about one small thing you can do to meet a financial goal or eliminate a financial stressor from your life, sign up for Seagate’s Financial Wellness Email Series.

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Countdown to Retirement

Once you’ve determined when you’d like to retire, you can use this checklist to help you make crucial decisions and take the necessary steps to guarantee you’re retirement-ready.

2–5 Years before Retirement

1 Year before Retirement

When You Retire

Information Is Power

From 1:1 sessions with retirement advisors to informative articles, detailed checklists and other tools, Fidelity can help you plan for financial security in retirement.

Take a look

Saving for Retirement

How much money you’ll need in retirement differs for everyone, but financial experts suggest you should set your sights on 80% of your pre-retirement income to live comfortably. Typically, retirement income comes from three sources: personal savings, Social Security, and employer-provided (Seagate) plans.

Personal Savings

Social Security

Seagate Plans

Small Steps Now Lead to Big Returns

Even small increases to your 401(k) contributions every year add up over time, especially when you get the Seagate match.

See how

Legacy Program

Seagate’s Legacy pilot program provides an opportunity for you to ease into retirement—and transition your knowledge to others—by reducing your work schedule to 60% over 6 to 12 months as you mentor a colleague or work on a specific project. If you’re approved to participate in Legacy, you’ll receive 60% of your base pay during your Legacy assignment and a completion bonus of 10% of your base pay at the end of your assignment.

To apply for this program, you must meet the following three criteria:

  • An employee in the U.S., UK or Singapore
  • At professional level 4–7 or management levels 3–6
  • Have at least 10 years of service (does not apply to UK due to local regulations)

If you’re interested in participating in this voluntary program, start the ball rolling by speaking with your manager and completing a Legacy Program Participation Agreement Form for the US, UK or Singapore. For more information, review the US FAQ, UK FAQ or Singapore FAQ.

Health Care in Retirement

As a Seagate employee, you probably get your health coverage through Seagate or your spouse’s plan. Coverage during retirement is different. Generally, people are covered by Medicare, the federal health insurance program for people 65 and older.

If you’re covered by Seagate and you retire before you turn 65, you’ll need to purchase medical coverage until you become Medicare-eligible.

You Don’t Have to Enroll in Medicare When You Turn 65

If you’re still working and covered by Seagate or another employer-sponsored medical plan when you turn 65, you can wait to enroll in Medicare without a penalty for up to eight months after you retire.

Medicare Coverage

Bridge-to-Medicare Coverage

Long Term Care Insurance