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

MDU Resources Group Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: Healthcare Provider for MDU Resources Group MDU Resources Group, a utility and construction services company, primarily partners with various healthcare providers and insurance companies that serve its employees, including Blue Cross Blue Shield and UnitedHealthcare for healthcare coverage options. Brief Overview of Projected Healthcare Cost Increases in 2026 As we approach 2026, healthcare consumers face significant challenges as premiums for Affordable Care Act (ACA) marketplace plans are projected to rise sharply, with some states reporting increases exceeding 60%. The anticipated loss of enhanced federal premium subsidies coupled with escalating medical costs is creating a perfect storm for healthcare expenses. According to industry experts, without congressional action to extend these subsidies, over 22 million enrollees may experience out-of-pocket premium hikes of more than 75%, underscoring the need for proactive financial planning for healthcare in the coming year. The landscape suggests that the combination of heightened rates and diminished financial assistance could push many families toward more financial strain in 2026. Click here to learn more

'To allay long-term financial concerns, MDU Resources Group 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 MDU Resources Group 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 MDU Resources Group, 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 MDU Resources Group, 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 MDU Resources Group 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.

Featured Video

Articles you may find interesting:

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 MDU Resources Group 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 types of retirement savings plans does MDU Resources Group offer?

MDU Resources Group offers a 401(k) savings plan to help employees save for retirement.

How can employees of MDU Resources Group enroll in the 401(k) plan?

Employees can enroll in the MDU Resources Group 401(k) plan by visiting the company’s benefits portal or contacting the HR department for assistance.

Does MDU Resources Group match employee contributions to the 401(k) plan?

Yes, MDU Resources Group provides a matching contribution to the 401(k) plan, subject to certain limits.

What is the maximum contribution limit for the MDU Resources Group 401(k) plan?

The maximum contribution limit for the MDU Resources Group 401(k) plan is aligned with IRS guidelines, which may change annually.

Can employees of MDU Resources Group take loans against their 401(k) savings?

Yes, MDU Resources Group allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

What investment options are available in the MDU Resources Group 401(k) plan?

The MDU Resources Group 401(k) plan offers a variety of investment options, including mutual funds and target-date funds.

When can employees of MDU Resources Group start withdrawing from their 401(k) accounts?

Employees can start withdrawing from their MDU Resources Group 401(k) accounts at age 59½, or earlier under certain circumstances.

Is there a vesting schedule for the employer match in the MDU Resources Group 401(k) plan?

Yes, MDU Resources Group has a vesting schedule for the employer match, which determines how much of the match employees are entitled to based on their years of service.

How often can employees change their contribution amounts to the MDU Resources Group 401(k) plan?

Employees of MDU Resources Group can change their contribution amounts on a quarterly basis or as specified in the plan documents.

What happens to the 401(k) savings if an employee leaves MDU Resources Group?

If an employee leaves MDU Resources Group, they can choose to roll over their 401(k) savings to another retirement account, cash out, or leave the funds in the MDU plan if eligible.

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

MDU Resources Group Pension Plan Years of Service and Age Qualification: Generally, employees must have a minimum of 5 years of service to qualify for the pension plan. Age qualification usually begins at 55 for early retirement benefits. Pension Formula: The pension benefit is typically calculated based on a formula involving years of service and average salary. For example, it might be a percentage of the final average salary multiplied by years of service. Name of 401(k) Plan:MDU Resources Group 401(k) Plan Who Qualifies for the 401(k) Plan: Employees who meet eligibility requirements, which usually include being employed for a specific period or meeting age criteria, qualify for the 401(k) plan.

Restructuring and Layoffs: In 2023, MDU Resources Group announced a strategic restructuring plan aimed at streamlining operations and enhancing efficiency. This plan included a workforce reduction, impacting several positions across different departments. The restructuring is part of a broader effort to realign the company's focus and improve its competitive position in the market. This news is important to address due to the ongoing economic uncertainty and evolving investment landscape. Investors and employees alike should stay informed about these changes as they may impact the company's performance and stability.

MDU Resources Group offers stock options and RSUs as part of its compensation packages. For 2022, employees had access to a mix of stock options and RSUs, which were granted based on performance metrics and tenure.

2022-2023: There may have been adjustments to the health plans in response to changing healthcare laws or employee feedback. Specific updates could include changes to premiums, deductibles, or the addition of new benefits. 2024: Recent news might cover enhancements in health benefits or responses to healthcare reforms. Look for any press releases or news articles regarding benefits changes, such as increased coverage or new wellness programs.