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Westinghouse Air Brake Technologies Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: Healthcare Provider Information The healthcare provider associated with Westinghouse Air Brake Technologies (WABTEC) is often contingent upon employee choices, as many employees may utilize employer-sponsored plans or opt for plans on the Affordable Care Act (ACA) marketplace. Typically, large companies like WABTEC partner with major insurance providers, including plans offered by UnitedHealthcare, Cigna, or Anthem, allowing employees to choose from various healthcare options tailored to their needs. Potential Healthcare Cost Increases in 2026 In 2026, employees at Westinghouse Air Brake Technologies may face significant increases in their healthcare costs, primarily due to anticipated rate hikes in the Affordable Care Act (ACA) marketplace. With premium increases for some insurers expecting to exceed 60%, many employees could see their out-of-pocket expenses soar. The combination of rising medical costs, the potential expiration of enhanced federal premium subsidies, and major insurers seeking higher rates point towards potential out-of-pocket premium hikes that could exceed 75%. These changes necessitate early planning and strategic decision-making regarding healthcare plans to mitigate financial impacts. Click here to learn more

'To allay long-term financial concerns, Westinghouse Air Brake Technologies 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 Westinghouse Air Brake Technologies 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 Westinghouse Air Brake Technologies, 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 Westinghouse Air Brake Technologies, 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 Westinghouse Air Brake Technologies 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 Westinghouse Air Brake Technologies 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 Westinghouse Air Brake Technologies?

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

How can employees enroll in the Westinghouse Air Brake Technologies 401(k) plan?

Employees can enroll in the Westinghouse Air Brake Technologies 401(k) plan by completing the enrollment form available through the HR portal or by contacting the HR department directly.

Does Westinghouse Air Brake Technologies offer matching contributions to the 401(k) plan?

Yes, Westinghouse Air Brake Technologies offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.

What is the vesting schedule for the matching contributions at Westinghouse Air Brake Technologies?

The vesting schedule for matching contributions at Westinghouse Air Brake Technologies typically follows a graded vesting schedule, where employees become fully vested after a certain number of years of service.

Can employees change their contribution percentage to the 401(k) plan at Westinghouse Air Brake Technologies?

Yes, employees at Westinghouse Air Brake Technologies can change their contribution percentage at any time, subject to the plan's rules.

What investment options are available in the Westinghouse Air Brake Technologies 401(k) plan?

The Westinghouse Air Brake Technologies 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.

Is there a minimum contribution requirement for the Westinghouse Air Brake Technologies 401(k) plan?

Yes, Westinghouse Air Brake Technologies may have a minimum contribution requirement, which is outlined in the plan documents provided to employees.

How often can employees at Westinghouse Air Brake Technologies make changes to their investment allocations?

Employees at Westinghouse Air Brake Technologies can typically make changes to their investment allocations on a quarterly basis or as specified in the plan guidelines.

What happens to the 401(k) savings if an employee leaves Westinghouse Air Brake Technologies?

If an employee leaves Westinghouse Air Brake Technologies, they can either roll over their 401(k) savings into another retirement account, cash out their balance, or leave the funds in the Westinghouse Air Brake Technologies plan if allowed.

Are there any penalties for early withdrawal from the Westinghouse Air Brake Technologies 401(k) plan?

Yes, early withdrawals from the Westinghouse Air Brake Technologies 401(k) plan may incur penalties and taxes, unless certain conditions are met, such as financial hardship.