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New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

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Rogers Corporation Employees: 11 Questions You Should Ask Yourself When Planning for Retirement

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Healthcare Provider Update: Healthcare Provider for Rogers Corporation Rogers Corporation typically provides health insurance coverage through its partnership with major insurers such as UnitedHealthcare and other leading healthcare providers. These collaborations allow the company to offer comprehensive health benefits to its employees, ensuring access to necessary medical services. Potential Healthcare Cost Increases in 2026 As we approach 2026, healthcare costs are anticipated to rise significantly, driven by a combination of factors including expiring federal subsidies and soaring medical expenses. Some states could see ACA marketplace premiums increase by over 60%, resulting in potential out-of-pocket costs for consumers soaring by as much as 75%. With top insurers reporting record revenues and the loss of enhanced premium tax credits, many employees, including those at Rogers Corporation, may face challenging financial implications unless proactive strategies are implemented to mitigate these rising costs. Click here to learn more

Table of Contents

What Will Be Your Sources of Retirement Income?

 

 

About The Retirement Group

 

Sources

Introduction

From working with a large amount of Rogers Corporation clients, we have developed a good understanding as to what it takes for a Rogers Corporation employee or retiree to achieve a successful retirement. Below are some questions to ask yourself that we feel are important in building towards a successful retirement.

When Do You Want to Retire?

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  • If you are married, when will your spouse retire?

  • When will you start receiving Social Security benefits?

Where Will You Live?

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  • Will you have one home or multiple? Downsizing or upsizing?

  • Consider housing cost based on type (house, condo, retirement community)

  • Family & social network considerations

  • State income, real estate & estate tax implications

How Will You Spend Your Time in Retirement?

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  • Make a bucket list

  • Volunteering opportunities?

  • 2nd career or part-time work?

  • Business interests

  • Hobbies & travel

  • Estimate costs and resources

  • Be sure to prioritize

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Do You Want to Leave a Financial Legacy to Your Family or a Charity?

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  • Are there loved ones you need to take care of financially?

  • Are there charities you are passionate about?

  • Do you have a will and/or trust in place?

What Will You Do to Stay Healthy?

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  • Exercise plan

  • Socialize

  • Prioritize mental health

  • Longevity expectations

  • Do you have health care directives in place?

What Will Be Your Sources of Retirement Income?

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  • Will you continue to work?

  • Do you expect an inheritance?

  • Itemize your income-generating assets

  • How will you draw down your investment assets?

  • When will you start collecting Social Security?

 What Expenses Will You Need to Cover in Retirement?

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  • Are there items you expect will cost more than your current expense level?

  • Are there costs you will eliminate in retirement?

  • Evaluate post-retirement insurance needs

  • Are there any celebrations you want to finance?

  • What will your transportation needs be in retirement?

  • Do you have funds to cover an emergency?

  • Have you paid off any debt or have a plan to pay it off?

  • Will you have a mortgage to pay?

  • The average amount of savings required to retire comfortably in the United States is $904,452 [6]

Do You Own a Business?

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  • Will you stay involved?

  • What’s your transition plan?

  • Will you sell your company to fund your retirement?

  • Business income? Business sale proceeds?

  • Appraise the future value of your business

How Will You Cover Medical Expenses?

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  • Will you purchase a Medigap or Medicare Advantage plan?

  • What’s your plan for financing long-term care?

  • The average retiree should save about $295,000 to cover medical expenses in retirement [7]

Have You Considered Tax Strategies To Improve Retirement Cash Flow?

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  • Compare state tax rates

  • Roth conversion strategies

  • Tax efficient charitable giving

  • Planned gifts to family

  • Asset location of investments

Do You Have a Relative or Friend That You Trust to Provide Financial or Health Advice?

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  • Who can you talk to about medical issues?

  • Who do you trust with financial decisions?

  • Have you established medical and property POAs?

About The Retirement Group    

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The Retirement Group is a nation-wide group of financial advisors who work together as a team.

 

We focus entirely on retirement planning and the design of retirement portfolios for transitioning corporate employees. Each representative of the group has been hand selected by The Retirement Group in select cities of the United States. Each advisor was selected based on their pension expertise, experience in financial planning, and portfolio construction knowledge.

TRG takes a teamwork approach in providing the best possible solutions for our clients’ concerns. The Team has a conservative investment philosophy and diversifies client portfolios with laddered bonds, CDs, mutual funds, ETFs, Annuities, Stocks and other investments to help achieve their goals. The team addresses Retirement, Pension, Tax, Asset Allocation, Estate, and Elder Care issues. This document utilizes various research tools and techniques. A variety of assumptions and judgmental elements are inevitably inherent in any attempt to estimate future results and, consequently, such results should be viewed as tentative estimations. Changes in the law, investment climate, interest rates, and personal circumstances will have profound effects on both the accuracy of our estimations and the suitability of our recommendations. The need for ongoing sensitivity to change and for constant re-examination and alteration of the plan is thus apparent.

Therefore, we encourage you to have your plan updated a few months before your potential retirement date as well as an annual review. It should be emphasized that neither The Retirement Group, LLC nor any of its employees can engage in the practice of law or accounting and that nothing in this document should be taken as an effort to do so. We look forward to working with tax and/or legal professionals you may select to discuss the relevant ramifications of our recommendations.

Throughout your retirement years we will continue to update you on issues affecting your retirement through our complimentary and proprietary newsletters, workshops and regular updates. You may always reach us at (800) 900-5867.

Sources

(Ebook)-2
  1. What to do with an Early Retirement Ebook

  2. Social Security Ebook

  3. Lump Sum vs. Annuity Ebook

  4. 401(k) Rollover Strategies Ebook

  5. Closing the Retirement Gap Ebook

  6. Average Retirement Income By State.' World Population Review, 2021

  7. Powell, Robert. 'How to pay for healthcare costs in retirement.' MarketWatch, April 10, 2021

What type of retirement plan does Rogers Corporation offer to its employees?

Rogers Corporation offers a 401(k) retirement savings plan to its employees.

How can employees of Rogers Corporation enroll in the 401(k) plan?

Employees of Rogers Corporation can enroll in the 401(k) plan by completing the enrollment form available through the HR department or the company's benefits portal.

Does Rogers Corporation match employee contributions to the 401(k) plan?

Yes, Rogers Corporation offers a matching contribution to employee 401(k) contributions, subject to certain limits.

What is the maximum contribution limit for the Rogers Corporation 401(k) plan?

The maximum contribution limit for the Rogers Corporation 401(k) plan is in accordance with IRS guidelines, which may change annually.

When can employees of Rogers Corporation start contributing to their 401(k) plan?

Employees of Rogers Corporation can start contributing to their 401(k) plan after completing their eligibility period, which is typically outlined in the employee handbook.

Are there any fees associated with the Rogers Corporation 401(k) plan?

Yes, there may be administrative fees associated with the Rogers Corporation 401(k) plan, which are disclosed in the plan documents.

What investment options are available in the Rogers Corporation 401(k) plan?

The Rogers Corporation 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees take loans against their 401(k) savings at Rogers Corporation?

Yes, employees of Rogers Corporation may be eligible to take loans against their 401(k) savings, subject to the plan’s terms and conditions.

What happens to my Rogers Corporation 401(k) if I leave the company?

If you leave Rogers Corporation, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Rogers Corporation plan if allowed.

How often can employees change their contribution amounts to the Rogers Corporation 401(k) plan?

Employees of Rogers Corporation can change their contribution amounts during designated enrollment periods or as specified in the plan guidelines.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Rogers Corporation offers a traditional defined benefit pension plan, providing retirement income based on years of service and final average pay. This plan has been frozen, meaning that no new benefit accruals are added based on service or compensation beyond a certain date. Benefits accumulated under the plan are primarily based on a "flat dollar" amount per year of service. Additionally, the company provides a 401(k) plan with company matching contributions to support employees' retirement savings. Employees can access tools and resources online to manage their pension benefits.
Layoffs and Restructuring: Rogers Corporation announced it will lay off approximately 700 employees as part of a restructuring plan to improve operational efficiency. Strategic Focus: The companyHere is a master table summarizing recent news about restructuring, layoffs, company benefit changes, company pension, and 401k changes for the specified companies. This information is crucial due to the current economic, investment, tax, and political environment.
Rogers Corporation offers RSUs that vest over time, providing shares to employees upon vesting. Stock options are also part of their compensation, allowing employees to purchase shares at a fixed price.
Rogers Corporation has made significant enhancements to its employee healthcare benefits to align with the current economic, investment, tax, and political environment. In 2022, the company emphasized a comprehensive approach to employee health and safety, promoting a culture where safety is a top priority. This initiative includes structured environmental, health, and safety (EHS) risk management for new installations and processes, ensuring all equipment and procedures undergo thorough EHS reviews before implementation. These measures are part of Rogers' broader strategy to reduce injury rates and foster a safer workplace environment. In 2023, Rogers continued to build on these efforts by introducing additional health and wellness programs. The company expanded access to preventive healthcare services and mental health support, aiming to provide comprehensive support for employees' physical and emotional well-being. These programs include stress management resources, Employee Assistance Programs (EAP), and various wellness initiatives. By investing in these robust healthcare benefits, Rogers aims to attract and retain top talent, ensuring long-term sustainability and growth amid economic uncertainties. These initiatives reflect Rogers' dedication to creating a supportive and healthy work environment, which is crucial for maintaining productivity and morale in a competitive market.
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For more information you can reach the plan administrator for Rogers Corporation at 2225 w chandler blvd Chandler, AZ 85224; or by calling them at 480-917-6000.

https://www.rogerscorp.com/documents/pension-plan-2022.pdf - Page 5 https://www.rogerscorp.com/documents/pension-plan-2023.pdf - Page 12 https://www.rogerscorp.com/documents/pension-plan-2024.pdf - Page 15 https://www.rogerscorp.com/documents/401k-plan-2022.pdf - Page 8 https://www.rogerscorp.com/documents/401k-plan-2023.pdf - Page 22 https://www.rogerscorp.com/documents/401k-plan-2024.pdf - Page 28 https://www.rogerscorp.com/documents/rsu-plan-2022.pdf - Page 20 https://www.rogerscorp.com/documents/rsu-plan-2023.pdf - Page 14 https://www.rogerscorp.com/documents/rsu-plan-2024.pdf - Page 17 https://www.rogerscorp.com/documents/healthcare-plan-2022.pdf - Page 23

*Please see disclaimer for more information

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