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

Moving for Retirement? Key State Tax Insights for Ingles Markets Employees

Healthcare Provider Update: Ingles Markets, a regional grocery store chain, partners with UnitedHealthcare for its employee healthcare benefits. As we look ahead to 2026, potential healthcare cost increases for Ingles Markets and similar employers are concerning. The projected rise in health insurance premiums linked to the Affordable Care Act (ACA) suggests many employees could see out-of-pocket costs soar by over 75%. This surge is driven by several factors, including higher medical expenses, the potential expiration of enhanced federal subsidies, and significant rate hikes from major insurers, all of which combine to create a challenging financial landscape for both employers and their employees. Click here to learn more

'Ingles Markets employees weighing a move in retirement should look beyond just income tax and consider the full state tax landscape to support smarter long-term planning,'—Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.

'Ingles Markets employees exploring relocation in retirement can benefit from understanding how different state tax rules may influence everyday expenses and long-term goals,'—Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How moving to a new state may influence income taxes in retirement.
The effect property and sales taxes can have on long-term living expenses.
Why estate and inheritance taxes matter for legacy planning.

Potential tax implications of moving

If you are thinking of moving to a new state when you retire, there are several factors to consider in advance. Beyond determining if the location suits your needs and lifestyle, it's important to find out how much you will owe in state taxes. That's because both your short- and long-term living expenses can be influenced by property and sales taxes. Additionally, certain states have estate and inheritance taxes that may affect your legacy planning.

Even if you plan to move to a state with no income tax after retiring from Ingles Markets, look closely at the full tax landscape before making the leap. In truth, income tax is just one piece of a larger equation. Here are four core tax categories to keep in mind:

1. Income taxes

As of 2025, wage income is not taxed at the state level in nine U.S. states: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. This can make these states attractive to Ingles Markets retirees who anticipate earning a higher income even after retirement.

If you plan to meet most of your income needs from pensions, traditional IRAs, and employer retirement plans, this income is generally subject to federal taxes and may be subject to state taxes. That said, most states do not tax Social Security benefits. Be sure to check if that's true in the state you'd like to move to. There are still nine states that impose income tax on Social Security, although they typically also offer exemptions or credits based on your income level. ¹

Comparing estimated state and federal taxes on retirement withdrawals can help clarify how your income could differ depending on where you live. State rules, exemptions, and formulas can vary widely.

2. Property tax

Property tax costs differ greatly depending on where you live. New Jersey, for instance, has an effective property tax of 2.23%, while Hawaii's property tax is only 0.27%. ² According to the U.S. Census Bureau, the national average is 1.02%. ³

In some states, eligible homeowners could see cost reductions through age-based or homestead exemptions. However, this is not universally true. This makes it important to understand the property tax landscape in advance of making any moves. Location and real estate values will heavily influence your total housing-related expenses in retirement.

3. Sales tax

Sales taxes can shape everyday spending, especially for retirees living on fixed income sources of revenue. As of 2025, 45 states impose a statewide sales tax, and 38 states have additional local sales taxes levied by counties or municipalities. ⁴ While exemptions for items like groceries or clothing may exist, they vary widely between states. And these exemptions typically do not mitigate sales taxes on other items, which average 7.52% nationwide. ⁴ Even in places without income taxes, the combined sales tax burden can noticeably impact the cost of living.

4. Inheritance and estate taxes

Other taxes you should consider before moving include those levied on estates and inheritances. These can be crucial as they may influence how much your heirs ultimately receive.

In addition to federal estate tax, 12 states and the District of Columbia impose estate taxes and five states levy inheritance taxes. And then there's Maryland, the only state that charges both. ⁵

Before relocating, be sure to review estate tax laws in both your current and future state of residence since rules and thresholds differ.

The bottom line

Taxes are only one piece of the cost-of-living puzzle. Housing, health care, and insurance may also factor heavily into retirement planning for those leaving the Ingles Markets workforce.

Taking a full view of a state’s tax environment can help you make sound, well-considered choices. Working with a financial planner or tax professional can help you evaluate how a move could influence your income, assets, and long-term goals.

Want help analyzing your retirement move?

The Retirement Group can help you explore how taxes and benefits might shape your retirement income and relocation decisions.

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Articles you may find interesting:

Sources:

1. Fidelity. ' Is Social Security still taxable? ' by Fidelity Viewpoints. 2025.

2. Rocket Mortgage. ' Property taxes by state: Ranked from highet to lowest in 2025 ,' by Joel Reese. September 12, 2025.

3. USA Today. ' These states have the highest property taxes ,' by Sara Chernikoff. July 18, 2024.

4. Tax Foundation. ' State and Local Sales Tax Rates, Midyear 2025 ,' by Jared Walczak. July 8, 2025.

5. Tax Foundation. ' Estate and Inheritance Taxes by State, 2025 ,' by Katherine Loughead. Oct. 28, 2025.

Other Resources:

1. Markowitz, Andy. “ Taxes on Social Security Are Based on Your Income .” AARP , 16 Apr. 2025, updated 12 Aug. 2025, www.aarp.org/social-security/retirement/federal-income-taxes/ .

2. “ Thinking of Moving to Another State? Before You Pack, Understand How Taxes Could Affect Your Finances .” Fidelity Viewpoints , 16 Oct. 2025, www.fidelity.com/learning-center/personal-finance/moving-to-another-state-taxes .

3. TurboTax Editorial Team. “ 9 States with No Income Tax .” Intuit TurboTax , 21 Sept. 2025, turbotax.intuit.com/tax-tips/fun-facts/9-states-with-no-income-tax/c9RZgthD3/.

4. “ How Do State and Local Estate and Inheritance Taxes Work? ” Urban-Brookings Tax Policy Center , Updated Jan. 2024, taxpolicycenter.org/briefing-book/how-do-state-and-local-estate-and-inheritance-taxes-work.

5. “ Property Tax Exemptions .” Texas Comptroller of Public Accounts , n.d., comptroller.texas.gov/taxes/property-tax/exemptions/.

What type of retirement plan does Ingles Markets offer to its employees?

Ingles Markets offers a 401(k) retirement savings plan to its employees.

How can employees of Ingles Markets enroll in the 401(k) plan?

Employees of Ingles Markets can enroll in the 401(k) plan by completing the enrollment process through the company's HR portal or by contacting the HR department for assistance.

Does Ingles Markets provide any matching contributions to the 401(k) plan?

Yes, Ingles Markets provides matching contributions to the 401(k) plan, subject to certain conditions and limits.

What is the eligibility requirement to participate in the Ingles Markets 401(k) plan?

Employees of Ingles Markets typically become eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.

Can employees of Ingles Markets change their contribution percentage to the 401(k) plan?

Yes, employees of Ingles Markets can change their contribution percentage to the 401(k) plan at any time, following the guidelines set forth in the plan.

What investment options are available in the Ingles Markets 401(k) plan?

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

Is there a loan provision available in the Ingles Markets 401(k) plan?

Yes, the Ingles Markets 401(k) plan may allow participants to take loans against their account balance, subject to specific terms and conditions.

At what age can employees of Ingles Markets begin to withdraw funds from their 401(k) plan without penalties?

Employees of Ingles Markets can typically begin to withdraw funds from their 401(k) plan without penalties at age 59½, following IRS regulations.

How does Ingles Markets communicate changes to the 401(k) plan to its employees?

Ingles Markets communicates changes to the 401(k) plan through employee newsletters, meetings, and updates on the HR portal.

Are there any fees associated with the Ingles Markets 401(k) plan?

Yes, there may be administrative and investment fees associated with the Ingles Markets 401(k) plan, which are detailed in the plan documents.

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

Name of Pension Plan: Ingles Markets does not appear to have a traditional defined benefit pension plan. Instead, they offer a 401(k) plan with company matching. Years of Service and Age Qualification: Ingles Markets primarily offers a 401(k) plan rather than a pension plan. For specific qualifications related to pension plans, further details would need to be reviewed from additional sources or contact Ingles Markets directly. Name of 401(k) Plan: Ingles Markets 401(k) Plan. Who Qualifies: Employees of Ingles Markets who are at least 21 years old and have completed 90 days of service are eligible to participate in the Ingles Markets 401(k) Plan. 401(k) Plan Details: Matching Contributions: Ingles Markets offers a match of 50% on the first 6% of employee contributions. Vesting: The employee’s contributions are always vested; company contributions vest according to a specified schedule.

Layoffs and Restructuring: In 2023, Ingles Markets underwent a significant restructuring plan aimed at optimizing their operations. The company announced a reduction in its workforce in several departments to streamline processes and cut costs. This move was largely driven by the need to adapt to changing market conditions and enhance efficiency. As economic pressures continue, such restructurings become crucial for companies to remain competitive and financially stable.

Ingles Markets offers stock options and RSUs as part of its compensation package. The stock options typically include stock option grants with specific vesting schedules. RSUs are awarded to certain employees based on performance and seniority.

Health Insurance: Ingles Markets offers health insurance plans, including medical, dental, and vision coverage. They provide options for both employees and their dependents. Flexible Spending Accounts (FSAs): Employees can use FSAs for medical expenses. 401(k) Retirement Plan: Includes company matching contributions. Paid Time Off: Includes vacation days, personal days, and sick leave. Employee Assistance Program (EAP): Provides support for personal and professional challenges.