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Chesapeake Energy Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: Healthcare Provider for Chesapeake Energy: Chesapeake Energy utilizes a variety of healthcare providers for its employees, primarily partnering with Blue Cross Blue Shield (BCBS) for health insurance coverage. This long-standing relationship allows Chesapeake Energy to offer a comprehensive benefits package that facilitates access to necessary medical services for its workforce. Potential Healthcare Cost Increases in 2026: As we look towards 2026, Chesapeake Energy employees may face significant healthcare cost increases attributed to anticipated rate hikes within the Affordable Care Act (ACA) marketplace. Premiums are projected to rise dramatically, with reports indicating potential average increases of around 20%, and in some states, even exceeding 60%. The looming expiration of enhanced federal premium subsidies is a critical factor, as it could lead to out-of-pocket premium costs surging by over 75% for the majority of policyholders. This combination of rising medical costs and subsidy reductions will require careful planning from both the company and its employees to manage the impending financial impact effectively. Click here to learn more

'To allay long-term financial concerns, Chesapeake Energy employees may benefit from a comprehensive retirement strategy that addresses inflation, health care costs, and tax planning.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Proactive retirement planning—especially around inflation, health care, and shifting tax policies—can help Chesapeake Energy employees gain clarity and reduce uncertainty in the years leading up to retirement.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article we will discuss:

Key causes of retirement anxiety, including inflation, health care, and taxes.
Generational differences in money concerns and readiness.
The value of broad retirement planning approaches.

Retirement Anxiety is On The Rise

Employees across industries, including those at Chesapeake Energy, have long worried about how they will fund retirement. These concerns have grown considerably in today’s economy. Nearly two out of three Americans (64%) said they worry more about outliving their resources than they do about dying, according to the Allianz Center for the Future of Retirement’s 2025 Annual Retirement Study. ¹

Main Causes of Retirement-Related Worry

The Allianz study lists several key triggers of these fears. Regarding long-term planning, 54% of respondents said inflation was their top worry. Increases in health care costs, housing, and food prices are still undermining people’s purchasing power.

Concerns around Social Security’s future and tax burdens are also high. 43% said they feared Social Security might not offer adequate support. And another 43% named high taxes as a major issue.

Generational Gaps in Money Stress

Gen X—often balancing care for both kids and aging parents—report the highest worry: 70% versus 66% of millennials and 61% of boomers. Among corporate workers, including those at Chesapeake Energy, this dynamic underlines how family obligations can magnify retirement concerns.

The Gap Between Worry and Action

The survey shows a gap between concern and conversation: just 23% of respondents have talked about outliving their assets with a retirement specialist, down from 28% in 2024. ² That said, Americans are considering several strategies to allay these fears, ranking the following approaches as most helpful:

41% said cutting current spending to funnel more toward retirement 
44% said increasing retirement contributions 
39% said postponing retirement
While increasing contributions to retirement accounts could help address these concerns, barriers remain: daily necessities (63%), credit card debt (40%), mortgage or rent (35%) were top reasons people weren’t contributing more.

The Emotional Side of Retirement Anxiety

Retirement fears influence not just finances, but lifestyle, career choices, and family planning. Worries about independence, dignity, and quality of life often accompany fear of running short on funds.

Health care need are often underestimated too, complicating the equation. Medicare covers many basic services, but long‑term care, home assistance, and uncovered treatments can add large bills—adding uncertainty even for high‑income employees.

Broader Retirement Planning Matters

The Allianz findings emphasize planning well beyond just saving. With people living 25 to 30 years post‑work, a solid planning mindset is critical. As Kelly LaVigne, VP at Allianz Life, noted, “Americans areliving longer… your money needs to go farther. A good plan considers 25 to 30 years of retirement, not just the first ten.” ²

Key components often include:

Income strategies: setting up regular monthly disbursements from assets
Tax planning: reducing tax burdens on withdrawals
Health care planning: factoring in Medicare gaps and long‑term care
Inflation alignment: keeping income responsive to cost increases

Combined, these strategies can help build resilience, confidence, and preparedness even in uncertain times.

In Conclusion

The 2025 Allianz Retirement Study makes it clear: a majority of Americans—and Chesapeake Energy employees among them—see the threat of running out of money as more frightening than death. Rising inflation, health care spending, and uncertainty around Social Security are central drivers. Fewer are taking direct action through planning conversations or boosted contributions.

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Yet there is opportunity. The IRS now permits catch‑up 401(k) contributions of up to $11,250 for those aged 60–63 in 2025—above the standard limit. For many, this is a practical way to fortify resources in those final working years.

A Final Thought

Think of retirement like a long sea voyage. Death may be the storm ahead, but empty savings are the leak that can sink the ship first. According to the Allianz study, 64% of Americans fear that leak more than the storm. For Chesapeake Energy employees, the goal is to build a well-structured plan—with consistent income, planning for health costs, and tax awareness—that can keep the vessel afloat for the long haul.

Sources:

1. Allianz Life Insurance Company of North America, ' How Americans feel about retirement in 2025 ,' by the Allianz Center for the Future of Retirement ^TM , June 2025.

2. businesswire, ' Americans Are More Worried About Running Out of Money Than Death ,' April 22, 2025.

What is the purpose of the 401(k) plan offered by Chesapeake Energy?

The purpose of the 401(k) plan at Chesapeake Energy is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

How can employees enroll in the Chesapeake Energy 401(k) plan?

Employees can enroll in the Chesapeake Energy 401(k) plan by accessing the company’s benefits portal and following the enrollment instructions provided.

Does Chesapeake Energy offer a company match for 401(k) contributions?

Yes, Chesapeake Energy offers a company match for employee contributions to the 401(k) plan, which helps to enhance retirement savings.

What types of investment options are available in the Chesapeake Energy 401(k) plan?

The Chesapeake Energy 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.

At what age can employees start withdrawing from their Chesapeake Energy 401(k) plan without penalties?

Employees can start withdrawing from their Chesapeake Energy 401(k) plan without penalties at age 59½, subject to certain conditions.

Can employees take loans against their Chesapeake Energy 401(k) plan?

Yes, employees may have the option to take loans against their Chesapeake Energy 401(k) plan, subject to the plan's specific rules and limits.

What happens to the 401(k) plan if an employee leaves Chesapeake Energy?

If an employee leaves Chesapeake Energy, they can choose to roll over their 401(k) balance into another retirement account, leave it in the Chesapeake plan, or cash it out, subject to taxes and penalties.

Is there a vesting schedule for the company match in the Chesapeake Energy 401(k) plan?

Yes, Chesapeake Energy has a vesting schedule for the company match, meaning employees must work for a certain period before they fully own the matched funds.

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

Employees can typically change their contribution amounts to the Chesapeake Energy 401(k) plan at any time, subject to plan rules and payroll processing schedules.

What is the maximum contribution limit for the Chesapeake Energy 401(k) plan?

The maximum contribution limit for the Chesapeake Energy 401(k) plan is determined by IRS regulations, which may change annually; employees should check the latest limits for accuracy.

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

In 2024, Chesapeake Energy announced a significant restructuring effort, including a reduction in workforce and changes to its pension plan. The company is focusing on streamlining operations to adapt to fluctuating energy prices and reduce operational costs. Benefits and 401(k) plans are also being evaluated for adjustments to ensure financial stability.

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For more information you can reach the plan administrator for Chesapeake Energy at 6100 N. Western Ave. Oklahoma City, OK 73118; or by calling them at 1-405-848-8000.