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

Caution About Online Social Media and Investment Scams

Healthcare Provider Update: Healthcare Provider for Kraft Kraft Heinz Company primarily offers its employees a healthcare plan through the Aon Health Solutions, which oversees benefits and health resources for the company. As a sizable employer, Kraft provides a variety of health plans, typically including comprehensive medical, dental, and vision coverage. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are anticipated to surge significantly for Kraft employees, paralleling broader trends across the Affordable Care Act (ACA) marketplace. With health insurance premiums projected to increase by an average of 18%-and in some states exceeding 60% due to the potential expiration of enhanced federal premium subsidies-many workers could face a financial burden. This perfect storm of rising medical costs and shifting insurance policies signals an increase in out-of-pocket expenses, revealing the critical need for strategic planning among employees to manage their healthcare finances effectively. Click here to learn more

If you work for Kraft, you have likely read news articles and other financial information about your workplace online. As investors become more dependent on the internet, fraudsters can take advantage of those searching for information on the web through social media. The FBI estimates that senior citizens lose more than $3 billion each year to financial scams including romance scams and lottery and sweepstakes scams. This is supported by the CSN Data Book 2020, which states that fraud-related losses in 2020 will exceed $3.3 billion, an increase of nearly $1.5 billion over 2019. As the worldâs population continues to age, this number is only likely to rise. Fraudsters are currently utilizing these public platforms to quickly, cheaply, and easily reach large numbers of individuals.

In addition, as a result of the abundance of resources, fraudsters can now post information that appears to be remarkably clear and credible. In light of this, the SEC's Office of Investor Education and Advocacy advises investors to maintain skepticism and avoid acting solely on the basis of information obtained from social media or other apps. Kraft employees who wish to avoid a scam should be aware that fraudsters disseminate false information anonymously, using the credentials of others, fake profiles, and even impersonating legitimate sources, making it difficult to track and hold them accountable. These individuals frequently spread inaccurate, misleading, or insufficient information. The entries convey a false sense of legitimacy, typically creating the impression that a large number of people are purchasing an investment in order to make it appear attractive to the victim. There are countless schemes that con artists use to defraud online investors. Here are a few cons that Kraft employees should avoid:

Fraudulent Imitation Schemes:

Fraud (46,3%) and identity theft (29.4%) comprise the majority of FTC complaints. With nearly 500,000 total reports, imposter schemes are the most common type of fraud. These losses totaled nearly $1.2 billion, with an average loss of $850. 'Government documents or benefits fraud' was the most common type of identity theft, with over 400,000 reported cases.

Scammers frequently impersonate banks, brokers, investment advisors, and other reputable sources of market information. From 2019 to 2020, reports of fraud and identity theft increased by 47%. Fraudsters are able to obtain a client's information by creating an account resembling a specific individual or company, web pages with a legitimate company's logo, and comments that direct clients to a bogus website. When receiving information through social media, it is essential for Kraft employees who wish to avoid becoming victims of fraud to verify the source's identity. Checking the sender's account name, profile, email address, and screen name is the first step in validating their identity.

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When contacting a company or visiting their website, you may want to review the company's SEC filings to ensure that the contact information and website address are legitimate. You can independently verify an advisor or broker's information using the phone number or website listed in their associated firm's Client Relationship Summary (Form CRS). Those working for Kraft may be able to identify a reliable source by paying attention to a platform's verification methods, such as Twitter's verified blue check mark. On social media, fraudsters have been known to impersonate SEC employees. At www.sec.gov/opa/socialmedia, you will find a list of verified SEC accounts. In addition, there have been instances of fraudsters hacking into a victim's device and contacting their contacts; therefore, if you receive information about an investment opportunity from someone in your contacts list, be sure to contact them in person before making any financial decisions.

Fraudulent Cryptocurrency Investments

The annual number of reported scams in the cryptocurrency industry is enormous. Regulators frequently assert that cryptocurrency frauds are predictable, but Kraft employees should trade with caution. Several factors make the cryptocurrency market susceptible to fraud. Due to the nature of fiat currencies, neither banks nor centralized agencies are available to flag suspicious transactions and prevent fraud before it occurs. Transactions in cryptocurrencies are irreversible; if money is lost, it cannot be recovered, even if the user reports fraud. In recent years, cryptocurrency has received a great deal of attention, and fraudsters are now using investors' fear of missing out on investment opportunities to lure them into scams.

A 'crypto' investment opportunity that promises unusually high returns to Kraft employees is likely fraudulent. The promise of risk-free, unlimited returns is a staple of 'crypto' online scams. Fraudsters frequently depict accounts with instantaneous value increases and fabricate a list of historical returns to increase the appeal of their schemes to investors. Prior to engaging in transactions, Kraft employees who are considering a 'crypto' investment must review how the investment works, ask questions, and conduct a background check on those offering the opportunity for licensing and registration.

Romance Fraud

In 2023, the FBI anticipates an increase in reported financial loss due to a rise in international romance-related crypto investment fraud. Similar to an online relationship, the con artist convinces the victim to invest in cryptocurrency rather than cash. On dating apps and social media platforms, fraudsters are increasingly impersonating individuals with deceptive intentions while concealing their identities. Kraft employees should be aware that these scams typically function by establishing an online relationship with the victim and gaining confidence/trust. Once the relationship has been established, the fraudster informs the victim of a 'once in a lifetime' investment or trading opportunity involving cryptocurrencies. The victim is then pressured to invest money on a fraudulent website and is unable to withdraw their funds. The fraudster then ceases communication with the victim and the victim is unable to recover the money.

Schemes to Manipulate the Market

Those working for Kraft must also consider how fraudsters' dissemination of false information can affect the price of a legitimate stock or cryptocurrency. Fraudsters may promote an investment while posing as another individual and create new accounts designed specifically for the fraud while concealing their true identity. In light of this, it is essential to verify the posting history and original content of an account. Kraft employees should be aware of the following schemes that rely on the dissemination of false information: pump and dump, scalping, and touting.

Pump and dump schemes inflate the price of a stock artificially by creating deceptive statements that incite a buying frenzy, followed by the sale of shares at the inflated price. Scalping entails recommending a stock to increase its price, then selling it for a profit. Touting entails promoting a stock without disclosing compensation for doing so. In other instances, fraudsters spread negative rumors on social media that generate fear, uncertainty, and doubt (FUD) to drive down the price of a stock or currency, which they then purchase at a discount. Therefore, Kraft employees should exercise extreme caution when purchasing stock in a company that is constantly promoted despite having no products or services to justify its value. Regardless of the sender, it is also essential to maintain a healthy level of skepticism regarding investment-related posts, messages, emails, and other unsolicited communication.

Fraudulent Community-Based Investment

Fraudsters are also known to exploit online communities, specifically targeting groups with shared characteristics such as age, ethnicity, nationality, religion, and sexual orientation. These cons take advantage of the trust and bonds within a community in order to defraud multiple people simultaneously. By mail or in person, fraudsters contact the leaders of these communities about a scheme. After persuading them, they recommend the same to other members without realizing that the proposed investment is fraudulent, deceiving an entire group of people. Kraft employees can avoid being duped by conducting a background check and searching the individual's name on investor.gov.

When presented with an online investment opportunity, Kraft employees must be aware of what is being offered and with whom they are dealing due to the internet's vast array of scamming opportunities. When searching for financial information online, it is essential to conduct your own research, conduct background checks on individuals, and verify the website's credibility. Before investing, it is essential to research a company's publicly available information and become familiar with its business. When protecting themselves from fraud, Kraft employees must also avoid being pressured into financial transactions and refrain from following groups into trendy investments. Taking these factors into account, Kraft employees should seek out a legitimate financial advisor to avoid falling victim to an investment scam. The Retirement Group caters to your personal financial needs and develops a customized plan to ensure a secure and comfortable retirement through proper financial planning.

Reference(s):

https://www.sec.gov/oiea/investor-alerts-and-bulletins/social-media-and-investment-fraud-investor-alert
https://www.comparitech.com/identity-theft-protection/senior-scam-statistics/
https://www.analyticsinsight.net/top-ten-cryptocurrency-frauds-of-2023/
https://www.fbi.gov/contact-us/field-offices/jacksonville/news/romance-scammers-targeting-victims-with-fake-crypto-investments#:~:text=In%202023%2C%20the%20FBI%20anticipates,victim%20to%20investment%20in%20cryptocurrency .

How does the pension plan offered by Kraft Foods Global, Inc. compare to standard retirement plans in terms of employer contribution allocation, and what specific policies should employees be aware of when considering their retirement options through Kraft Foods Global, Inc.?

Kraft Foods Global, Inc. Pension Plan vs. Standard Retirement Plans: The pension plan offered by Kraft Foods Global, Inc. operates as a defined benefit plan, which allocates employer contributions based on years of service and compensation, ensuring steady retirement income based on a formula. This contrasts with standard retirement plans like 401(k)s, where contributions are often employee-driven and subject to market performance. Employees should understand that the guaranteed nature of a pension provides long-term stability, but they must consider the plan’s specific terms regarding eligibility, vesting, and distribution options.

In what ways do the eligibility requirements for contributions to the retirement plans at Kraft Foods Global, Inc. align with IRS regulations for 2024, and what should employees know about these rules when planning their retirement funds?

Eligibility and IRS Regulations for 2024: The eligibility requirements for Kraft Foods Global, Inc.’s retirement plan align with IRS regulations by requiring one year of service for plan participation, with no minimum age requirement. This is typical for defined benefit plans and is in line with IRS standards for qualified plans. Employees planning their retirement funds should ensure they meet the service requirements and understand that contributions are employer-funded rather than employee-driven, unlike other retirement plans that follow IRS contribution limits(Kraft Foods Global Inc_…).

Considering the defined benefit plan structure of Kraft Foods Global, Inc., how are distributions processed at retirement, and what potential tax implications should employees consider when deciding between a lump sum or annuity option upon retirement?

Distribution Options and Tax Implications: Kraft Foods Global, Inc.’s defined benefit plan offers both lump sum and annuity options for retirement distributions. Employees must carefully consider tax implications: lump sums may be subject to immediate taxation, while annuity payments spread income over time, potentially offering tax advantages. Employees should evaluate their financial needs and tax situation to choose the most suitable option for their retirement(Kraft Foods Global Inc_…).

How does Kraft Foods Global, Inc. ensure the stability and sustainability of its retirement funds, known as the retirement plan funding levels, and what measures are in place to protect employees' interests in case of economic downturns?

Retirement Plan Stability and Economic Downturns: Kraft Foods Global, Inc. ensures the stability and sustainability of its retirement funds through a well-funded pension plan, with funding levels reported at over 100%. This level of funding offers protection against economic downturns, safeguarding employee interests. The company also maintains a significant fidelity bond, providing additional security for plan participants in case of adverse financial events(Kraft Foods Global Inc_…).

What resources are available to employees of Kraft Foods Global, Inc. for financial planning assistance related to their retirement, and how can knowledge of these resources influence their decisions regarding retirement savings and benefits?

Financial Planning Resources: Employees of Kraft Foods Global, Inc. have access to various resources, such as retirement plan summaries and consultations with financial planners. These tools can help employees make informed decisions regarding their retirement savings and benefits, potentially influencing their strategies for maximizing contributions and taking advantage of plan features like early retirement options(Kraft Foods Global Inc_…).

How should employees at Kraft Foods Global, Inc. approach the process for requesting a distribution from their retirement plan, and what specific information is required to expedite this process effectively?

Requesting a Distribution: Employees at Kraft Foods Global, Inc. must contact the plan administrator to request a distribution. Providing accurate personal information, retirement dates, and preferred payment methods is essential to expedite the process. It’s crucial to ensure that all documentation is complete to avoid delays(Kraft Foods Global Inc_…).

How does the participation in the additional retirement plans offered by Kraft Foods Global, Inc., such as the Thrift Investment Plan, benefit employees in the context of overall retirement savings and IRS contribution limits for 2024?

Additional Retirement Plans and IRS Contribution Limits: Participation in Kraft Foods Global, Inc.’s Thrift Investment Plan allows employees to enhance their retirement savings while adhering to IRS contribution limits for 2024. This plan complements the pension plan by offering a defined contribution option, giving employees the chance to maximize their overall retirement savings through a combination of employer contributions and personal investments(Kraft Foods Global Inc_…).

What communication channels does Kraft Foods Global, Inc. provide for employees to ask questions or seek clarification regarding their retirement benefits, and what should employees include in their inquiries to receive detailed answers?

Communication Channels for Retirement Benefits: Kraft Foods Global, Inc. provides clear communication channels through its HR department and plan administrators, where employees can ask detailed questions about their retirement benefits. It’s advisable for employees to include specific details in their inquiries, such as their years of service and expected retirement dates, to receive thorough responses(Kraft Foods Global Inc_…).

How do the overall retirement plan offerings at Kraft Foods Global, Inc. facilitate long-term financial security for employees compared to industry standards, and what unique features should employees leverage to maximize their retirement savings?

Maximizing Long-Term Financial Security: The retirement plan offerings at Kraft Foods Global, Inc. focus on long-term financial security by providing guaranteed income through its defined benefit structure. Compared to industry standards, this approach offers employees a more predictable and stable source of retirement income. Employees should leverage features like early retirement options and understand their full benefit potential to optimize their financial outcomes(Kraft Foods Global Inc_…).

What strategies should employees at Kraft Foods Global, Inc. employ to ensure they remain informed about ongoing changes in retirement planning regulations and plan offerings as they approach retirement, especially in light of any adjustments to IRS rules or company policies?

Staying Informed on Retirement Plan Changes: Employees should stay informed about ongoing changes in retirement planning regulations and company policies by regularly reviewing updates from Kraft Foods Global, Inc. and keeping track of IRS adjustments. Attending company-provided financial planning seminars and consulting with financial advisors can help ensure that employees are well-prepared for retirement, especially as IRS rules or plan offerings evolve(Kraft Foods Global Inc_…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Kraft Heinz offers both a traditional defined benefit pension plan and a defined contribution 401(k) plan. The defined benefit plan provides retirement income based on years of service and final average pay. The 401(k) plan features company matching contributions and various investment options, including target-date funds and mutual funds. Kraft Heinz provides financial planning resources and tools to help employees manage their retirement savings.

Kraft Heinz is undergoing a major restructuring in 2024, including layoffs and changes to its employee benefits to improve cost efficiency. The company continues to focus on its core food and beverage businesses. Understanding these changes is crucial in today's economic and business landscape, as they impact the company's strategic priorities and financial health.

Kraft Heinz includes RSUs in its employee compensation packages, which vest over a specific period and convert into shares. Stock options are also provided, enabling employees to purchase shares at a predetermined price.