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

Healthcare Provider Update: HNI Corporation offers health insurance coverage to its U.S. employees through medical, dental, and vision plans, along with prescription benefits. The company provides Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) with employer contributions, as well as company-paid life and disability insurance. Preventive care and wellness programs are also included. HNI Corporation Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more

'To allay long-term financial concerns, HNI 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 HNI 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 HNI, 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 HNI, 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 HNI 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 HNI 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 HNI 401(k) plan?

The HNI 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them prepare for retirement.

How does HNI match contributions to the 401(k) plan?

HNI offers a matching contribution up to a certain percentage of employee contributions, which helps to enhance the overall retirement savings.

When can I enroll in HNI's 401(k) plan?

Employees can enroll in HNI's 401(k) plan during the initial onboarding process or during the annual open enrollment period.

What are the eligibility requirements for HNI's 401(k) plan?

To be eligible for HNI's 401(k) plan, employees typically need to meet certain criteria, such as being a full-time employee and completing a specified period of service.

Can I change my contribution rate to HNI's 401(k) plan?

Yes, employees can change their contribution rate to HNI's 401(k) plan at any time, subject to plan rules.

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

HNI's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Does HNI provide financial education resources for employees regarding the 401(k) plan?

Yes, HNI provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.

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

If you leave HNI, you have several options for your 401(k), including rolling it over to a new employer’s plan, an IRA, or cashing it out (though cashing out may have tax implications).

Is there a loan option available through HNI's 401(k) plan?

Yes, HNI's 401(k) plan may allow employees to take loans against their vested balance, subject to specific terms and conditions.

How often can I access my HNI 401(k) account statements?

Employees can access their HNI 401(k) account statements online, typically on a quarterly basis, or they can request them as needed.

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

HNI Corporation provides both a 401(k) plan and a pension plan for its employees. HNI's 401(k) plan offers a company match where employees can contribute to their retirement savings. The match formula includes 100% matching on the first 1-3% of employee contributions, and 50% matching on the next 2%. This means HNI will match up to a maximum of 4% of an employee’s contributions, as long as the employee contributes at least 5% (PlanPerfect). The HNI pension plan is a defined benefit plan that requires employees to meet specific service and age qualifications. Employees typically need to complete one year of service before they are eligible for the pension plan. The pension formula is based on the employee’s final average pay and years of service. The specific name of the pension plan is "HNI Defined Benefit Pension Plan," and it applies to employees who meet the age and service requirements set forth by the company

In early 2024, HNI Corporation announced a significant restructuring plan aimed at streamlining its operations and reducing costs. The company will be implementing layoffs affecting approximately 5% of its workforce. This move is part of a broader strategy to enhance operational efficiency and adapt to changing market conditions. Given the current economic climate, where companies are re-evaluating their cost structures amidst economic uncertainty, it is crucial for affected employees and stakeholders to stay informed about these changes. Additionally, the restructuring may impact company benefits and pension plans, necessitating close attention to any modifications in these areas.

Stock Options and RSU Acronyms Identify the acronyms used for stock options and RSUs. Provide details on how these options and units are structured and allocated. Company-Specific Details Review HNI Corporation’s stock options and RSUs for the years 2022, 2023, and 2024. Determine who is eligible for these benefits. Source and Documentation Include specific sources and page numbers for verification.

Official HNI Corporation Website Health Benefits Overview: HNI’s official website typically provides an overview of its employee benefits, including health insurance, dental and vision coverage, and wellness programs. Key Terms: Health Savings Account (HSA), Flexible Spending Account (FSA), Premiums, Deductibles, Coinsurance, Out-of-Pocket Maximums. Glassdoor Employee Reviews: Employees often review benefits on Glassdoor, detailing their experiences with HNI’s health insurance plans, including the quality of the plans and any changes over the years. Key Terms: PPO (Preferred Provider Organization), HMO (Health Maintenance Organization), Copays, Network Coverage.

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For more information you can reach the plan administrator for HNI at , ; or by calling them at .

https://www.fidelity.com/learning-center/personal-finance/retirement/company-stock https://www.kitces.com/blog/net-unrealized-appreciation-irs-rules-nua-from-401k-and-esop-plans/ https://creativeplanning.com/insights/financial-planning/how-to-use-the-net-unrealized-appreciation-nua-strategy-in-your-401k/ https://www.planperfectretirement.com/yearly-retirement-plan-contribution-limits/