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

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

Healthcare Provider Update: For TJX Companies, the primary healthcare provider is Aetna, which offers various health insurance plans to employees. As we look ahead to 2026, TJX employees may face significant increases in healthcare costs due to a confluence of factors affecting the entire industry. Record spikes in Affordable Care Act (ACA) premiums, driven by factors such as rising medical costs, the potential expiration of federal premium subsidies, and aggressive rate hikes from major insurers, could lead to many employees seeing their out-of-pocket expenses surge by 75% or more. Employers like TJX are likely to adjust their benefit structures in response, potentially transferring more healthcare costs onto workers, thereby putting additional financial pressure on households. Click here to learn more

'To allay long-term financial concerns, TJX 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 TJX 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 TJX, 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 TJX, 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 TJX 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 TJX 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 TJX?

The 401(k) plan at TJX is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

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

Yes, TJX offers a company match on employee contributions to the 401(k) plan, enhancing retirement savings for employees.

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

TJX employees can enroll in the 401(k) plan through the company’s benefits portal during the open enrollment period or within 30 days of their hire date.

What is the maximum contribution limit for the TJX 401(k) plan?

The maximum contribution limit for the TJX 401(k) plan is set annually by the IRS, and employees should check the latest guidelines for the current limit.

When can TJX employees start contributing to their 401(k) plan?

TJX employees can start contributing to their 401(k) plan as soon as they are eligible, which is typically after completing a certain period of employment.

What investment options are available in the TJX 401(k) plan?

The TJX 401(k) plan offers a variety of investment options, including mutual funds and target-date funds, allowing employees to choose based on their risk tolerance.

How does the company match work in the TJX 401(k) plan?

In the TJX 401(k) plan, the company matches a percentage of employee contributions up to a certain limit, which helps employees grow their retirement savings.

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

Yes, TJX allows employees to take loans against their 401(k) savings under certain conditions, providing flexibility for financial needs.

What happens to the TJX 401(k) plan if an employee leaves the company?

If an employee leaves TJX, they can choose to roll over their 401(k) balance into an IRA or a new employer’s plan, or they can cash out, subject to taxes and penalties.

Is there a vesting schedule for the TJX 401(k) company match?

Yes, the TJX 401(k) plan has a vesting schedule for the company match, meaning employees must work for a certain number of years before they fully own the matched contributions.

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

TJX is a leading off-price retailer of apparel and home fashions. The company operates stores under brands such as T.J. Maxx, Marshalls, HomeGoods, and Sierra.

TJX offers RSUs and stock options to eligible employees. The stock options vest over time, providing long-term incentives.