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MRC Global Employees Confront the Fear of Running Out of Money in Retirement

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'To allay long-term financial concerns, MRC Global 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 MRC Global 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 MRC Global, 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 MRC Global, 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 MRC Global 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 MRC Global 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 type of retirement plan does MRC Global offer to its employees?

MRC Global offers a 401(k) retirement savings plan to its employees.

How can employees participate in MRC Global's 401(k) plan?

Employees can participate in MRC Global's 401(k) plan by enrolling during the open enrollment period or when they first become eligible.

Does MRC Global match employee contributions to the 401(k) plan?

Yes, MRC Global provides a matching contribution to employee contributions, subject to certain limits.

What is the maximum contribution limit for MRC Global's 401(k) plan?

The maximum contribution limit for MRC Global's 401(k) plan is set by the IRS and may change annually; employees should check the latest guidelines.

Are there any eligibility requirements to join MRC Global's 401(k) plan?

Yes, MRC Global has specific eligibility requirements, which typically include age and length of service with the company.

Can employees take loans against their 401(k) balance at MRC Global?

Yes, MRC Global allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

How can employees access their 401(k) account information at MRC Global?

Employees can access their 401(k) account information through the designated online portal provided by MRC Global's plan administrator.

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

MRC Global's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.

Does MRC Global allow for Roth 401(k) contributions?

Yes, MRC Global offers the option for employees to make Roth 401(k) contributions, allowing after-tax savings.

What happens to my 401(k) funds if I leave MRC Global?

If you leave MRC Global, you can choose to roll over your 401(k) funds to another retirement account, cash out, or leave the funds in the plan, subject to certain conditions.

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

Employee Pension Plan Details: Plan Name: MRC Global does not appear to offer a traditional defined benefit pension plan. Pension Formula: N/A Years of Service and Age Qualification: Not applicable as the company does not provide a traditional pension plan. 401(k) Plan Details: Plan Name: MRC Global 401(k) Plan Eligibility: Generally, employees are eligible to participate in the 401(k) plan after completing a certain period of service, typically 30 days or as specified by the plan documents. Contributions: MRC Global matches employee contributions up to a certain percentage, as defined in the plan documents.

Layoffs and Restructuring: Flipper Inc. announced a significant restructuring plan in Q1 2024, resulting in a 15% reduction in its workforce. The company cited efforts to streamline operations and improve efficiency in response to changing market conditions. Additionally, Flipper is restructuring its benefit plans to focus on performance-based incentives rather than broad-based benefits.

Stock Options and RSUs: MRC Global offers stock options and Restricted Stock Units (RSUs) to eligible employees. Stock options generally allow employees to purchase shares at a set price, while RSUs are given as company shares that vest over time. Eligibility: Employees in senior management and key positions are typically eligible for these benefits.

Telehealth Services: MRC Global has recently expanded its healthcare benefits to include telehealth services, allowing employees to access medical care remotely. Mental Health Support: The company has increased its focus on mental health by enhancing their Employee Assistance Program (EAP) and offering more resources for mental wellness. Plan Adjustments: Updates to plan structures and cost-sharing arrangements have been implemented to better meet the needs of employees.