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

Healthcare Provider Update: Healthcare Provider for Newmont Corporation Newmont Corporation typically offers healthcare benefits through various insurance options for its employees, primarily utilizing the services of major health insurers like UnitedHealthcare and Anthem Blue Cross Blue Shield (BCBS), depending on the geographical locations of their operations. As a large mining company, Newmont is committed to providing comprehensive health coverage, which likely includes various plans that are tailored to meet the needs of its diverse workforce. Potential Healthcare Cost Increases in 2026 As the healthcare landscape shifts towards significant premium hikes in 2026, Newmont Corporation may face compounded pressures from rising costs. With the Affordable Care Act (ACA) premium increases projected to exceed 60% in some states, many employees could see their out-of-pocket costs soar dramatically-potentially by over 75%-if enhanced federal premium subsidies expire as anticipated. This combination of escalating medical costs and the threat of reduced subsidies poses a considerable challenge for employers like Newmont, who might need to navigate these complexities to maintain access to affordable healthcare for their workforce. Click here to learn more

'To allay long-term financial concerns, Newmont 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 Newmont 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 Newmont, 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 Newmont, 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 Newmont 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 Newmont 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 401(k) plan offered by Newmont?

Newmont offers a 401(k) plan that allows employees to save for retirement by contributing a portion of their paycheck before taxes are taken out.

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

Newmont provides a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.

Can employees at Newmont change their 401(k) contribution amounts?

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

What investment options are available in Newmont’s 401(k) plan?

Newmont’s 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

When can Newmont employees start contributing to the 401(k) plan?

Newmont employees can typically start contributing to the 401(k) plan after completing a specified period of employment, often within their first month.

Does Newmont allow for loans against the 401(k) plan?

Yes, Newmont allows employees to take loans against their 401(k) balance under certain conditions, as outlined in the plan documents.

What happens to my 401(k) account if I leave Newmont?

If you leave Newmont, you can choose to leave your 401(k) account with the company, roll it over to another retirement account, or cash it out, subject to taxes and penalties.

How does Newmont inform employees about their 401(k) plan options?

Newmont provides information about the 401(k) plan through employee orientation, benefit guides, and online resources available on the company’s intranet.

Is there a vesting schedule for Newmont's 401(k) matching contributions?

Yes, Newmont has a vesting schedule for matching contributions, meaning employees must work for a certain period to fully own the matching funds.

Can Newmont employees access their 401(k) funds while still employed?

Generally, Newmont employees cannot access their 401(k) funds while still employed, except through loans or hardship withdrawals as permitted by the plan.

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

Name of Pension Plan: Newmont Pension Plan Years of Service Requirement: 5 years of service required for eligibility. Age Qualification: Participants must be at least 55 years old to begin receiving benefits, with eligibility to retire at age 65. Pension Formula: The pension is calculated based on a formula that considers the average salary during the highest-paid years of service and years of service. Name of 401(k) Plan: Newmont 401(k) Retirement Savings Plan Eligibility Criteria: Employees are eligible to participate in the 401(k) plan after 30 days of employment.

Restructuring and Layoffs: Newmont Mining Corporation announced a significant restructuring plan in early 2024. The company is streamlining its operations and has decided to reduce its workforce by approximately 10% to enhance efficiency and cut costs. This move comes as part of a broader strategy to adapt to fluctuating gold prices and increasing operational costs. Given the current economic climate, where inflation and market volatility impact resource extraction industries, this restructuring is crucial for maintaining financial stability and competitiveness.

Newmont Corporation offers stock options and RSUs as part of its employee compensation package. For 2022, Newmont granted RSUs to senior executives and key employees, which are subject to performance and time-based vesting criteria. The stock options at Newmont are typically granted with a 10-year term and vest over a period of 3 to 5 years.

Benefits Overview: Newmont’s official website provides details about their employee benefits, including health insurance, wellness programs, and retirement plans. Health Benefits: Typically include medical, dental, and vision coverage, with options for health savings accounts (HSAs) or flexible spending accounts (FSAs). Newmont often emphasizes wellness initiatives and employee support programs. Acronyms: HSAs (Health Savings Accounts), FSAs (Flexible Spending Accounts), EAP (Employee Assistance Program)