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CSX Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: Healthcare Provider for CSX: CSX Corporation has partnered with Aetna, a division of CVS Health, to provide healthcare benefits for its employees. This collaboration allows CSX employees access to a wide range of health services and insurance plans tailored to meet their specific needs. Potential Healthcare Cost Increases in 2026: In 2026, CSX and its employees may face significant healthcare cost challenges, as the landscape for health insurance is set to experience considerable changes. With proposed premium hikes in the Affordable Care Act marketplace reaching as much as 66% in some states, the potential expiration of enhanced federal premium subsidies may exacerbate out-of-pocket expenses for many enrollees. A forecast indicates that over 22 million individuals could see their premiums increase by more than 75%, driven by rising medical costs and insurers' aggressive rate adjustments. This surge in costs could create financial strain not only for individual employees but also for the company's overall healthcare budget, necessitating strategic planning and proactive measures for 2026. Click here to learn more

'To allay long-term financial concerns, CSX 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 CSX 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 CSX, 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 CSX, 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 CSX 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 CSX 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 at CSX?

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

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

CSX employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

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

Yes, CSX offers a company match for 401(k) contributions, which allows employees to increase their retirement savings.

What is the maximum contribution limit for CSX employees under the 401(k) plan?

The maximum contribution limit for CSX employees under the 401(k) plan is determined by the IRS and may change annually. Employees should check the latest IRS guidelines for the current limit.

Can CSX employees take loans against their 401(k) savings?

Yes, CSX allows employees to take loans against their 401(k) savings, subject to certain conditions and limits outlined in the plan documents.

What investment options are available in CSX's 401(k) plan?

CSX's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.

When can CSX employees start withdrawing from their 401(k) plan?

CSX employees can start withdrawing from their 401(k) plan at age 59½, or earlier under certain circumstances, such as financial hardship.

Is there a vesting schedule for CSX's 401(k) company match?

Yes, CSX has a vesting schedule for the company match, which means employees must work for a certain period to fully own the matched contributions.

How often can CSX employees change their 401(k) contribution amount?

CSX employees can change their 401(k) contribution amount at any time, subject to the plan's guidelines and payroll processing schedules.

What happens to a CSX employee's 401(k) if they leave the company?

If a CSX employee leaves the company, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the CSX plan if permitted.

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

The pension plan for CSX employees is part of the Railroad Retirement Act, specifically referred to as the CSX Railroad Retirement plan. Eligibility and Qualifications: Years of Service: Employees typically need to have at least 10 years of service to be eligible for the pension plan benefits. Age Qualification: Full retirement benefits are available at age 60 with 30 years of service or age 62 with fewer years of service. Pension Formula: The pension is calculated based on the highest three earning years. The formula generally provides 80% of the average highest earnings after 30 years of service. Specific Terms and Acronyms: RRB (Railroad Retirement Board): Governs the administration of the railroad retirement benefits. Tier I and Tier II Benefits: Components of the Railroad Retirement benefits, with Tier I similar to Social Security and Tier II providing additional benefits based on railroad earnings. CSX 401(k) Plan: Name of 401(k) Plan: CSX offers the CSXtra 401(k) plan. Eligibility and Qualifications: Who Qualifies: All full-time employees are eligible to participate in the CSXtra 401(k) plan. Contribution Limits: Employees can contribute from 1% to 50% of their eligible pay up to the IRS limits, with additional catch-up contributions for those aged 50 and older. Company Match: CSX matches 100% of the first 1% of the employee's contribution and 50% of the next 5% of the contributions.

Layoffs and Restructuring: CSX has not announced significant layoffs recently but is continuously adjusting its workforce through normal attrition and targeted hiring to meet changing market demands.

2022: In 2022, CSX granted stock options and RSUs to key executives, focusing on aligning their incentives with the company's strategic goals. The grants were part of the annual executive compensation review. 2023: The 2023 program continued to emphasize performance-based RSUs, rewarding employees for meeting specific operational and financial targets. This year's grants included a significant component tied to sustainability and ESG (Environmental, Social, Governance) metrics, reflecting the company's commitment to sustainable growth. 2024: In 2024, CSX expanded its RSU program to include more mid-level management positions, recognizing the broader impact of these roles on company performance. This year’s stock options included features to enhance retention and reward long-term loyalty among employees.

Health Insurance: CSX offers various health insurance plans, including options with low co-pays and comprehensive coverage through Aetna. These plans cover a wide range of medical services and prescriptions. Wellness Programs: To promote physical and mental health, CSX has implemented wellness programs that include health assessments, fitness challenges, and access to wellness resources. Flexible Spending Accounts (FSAs): Employees can set aside pre-tax dollars for healthcare expenses through Health Care FSAs. The contribution limit for 2024 is $3,050, with a carryover limit of $610 from the previous year. Accidental Death and Dismemberment (AD&D) Insurance: CSX provides AD&D insurance, which covers employees in case of serious injuries or death due to accidents, with various coverage options based on annual pay. Recent Employee Healthcare News: In recent years, CSX has maintained stable health insurance premiums while enhancing the benefits package to meet evolving needs. The company continues to focus on offering competitive and comprehensive health benefits to attract and retain top talent. For instance, CSX has been recognized for its support of military and first responders through its Pride in Service program, which also contributes to the overall health and wellness of its employees.

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For more information you can reach the plan administrator for CSX at 500 Water St Jacksonville, FL 32202; or by calling them at (904) 359-3200.

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