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

Crafting Your Legacy: Essential Estate Planning Tips for Weyerhaeuser Employees

Healthcare Provider Update: Healthcare Provider for Weyerhaeuser Weyerhaeuser's healthcare benefit plans are typically managed through a variety of providers, widely depending on the location and specific employee benefits outlined in their policy documentation. Generally, major national insurers such as UnitedHealthcare, Anthem, and Aetna are among those that may provide coverage options for employees. Health Care Cost Increases in 2026 As 2026 approaches, Weyerhaeuser employees could face significant increases in healthcare costs, driven largely by anticipated steep hikes in Affordable Care Act (ACA) premiums. With some states forecasting premium increases exceeding 60%, and without the renewal of federal premium subsidies, over 22 million individuals may see their out-of-pocket expenses surge by up to 75%. Additionally, rising medical costs-fueled by hospital, physician, and medication price inflation-could contribute to an overall healthcare cost rise of 8.5% for employers, prompting shifts in cost-sharing dynamics between employers and employees. As these challenges unfold, navigating healthcare options strategically will be essential for managing individual financial impacts. Click here to learn more

Benefits of a will:

Distributes property according to your wishes
Names an executor to settle your estate
Names a guardian for minor children
Can create a trust

You've worked hard with Weyerhaeuser over the years to accumulate wealth, and you probably find it comforting to know that after your death the assets you leave behind will continue to be a source of support for your family, friends, and the causes that are important to you. However, we'd like to remind our clients from Weyerhaeuser that to ensure your legacy reaches your heirs as you intend, you must make the proper arrangements now. There are four basic ways to leave a legacy: (1) by will, (2) by trust, (3) by beneficiary designation, and (4) by joint ownership arrangements.

Wills

A will is the cornerstone of any estate plan. We suggest that our Weyerhaeuser clients have a will no matter how much their estate is worth, even if they've implemented other estate planning strategies. You can leave the property by will in two ways: making specific bequests and making general bequests. A specific bequest directs a particular piece of property to a particular person ('I leave Aunt Martha's diamond broach to my niece, Jen'). A general bequest is typically a percentage of property or property that is left over after all specific bequests have been made.

Typically, principal heirs receive general bequests ('I leave all the rest of my property to my wife, Jane'). With a will, you can generally leave any type of property to whomever you wish, with some exceptions, including:

Property will pass according to a beneficiary designation even if you name a different beneficiary for the same property in your will
Property owned jointly with rights of survivorship passes directly to the joint owner
Property in a trust passes according to the terms of the trust
Your surviving spouse has a right to a statutory share (e.g., 50%) of your property, regardless of what you leave him or her in your will
Children may have inheritance rights in certain states

Caution: Leaving property outright to minor children is problematic. You should name a custodian or property guardian, or use a trust.

Trusts

Another option we'd like to point out to our Weyerhaeuser employees is to leave property to their heirs using a trust. Trust property passes directly to the trust beneficiaries according to the trust terms. There are two basic types of trusts: (1) living or revocable, and (2) irrevocable. Living trusts are very flexible because you can change the terms of the trust (e.g., rename beneficiaries) and the property in the trust at any time. You can even change your mind by taking your property back and ending the trust.

An irrevocable trust, on the other hand, can only be changed or ended by its terms. This can be useful for our Weyerhaeuser clients who want to minimize estate taxes or protect their property from potential creditors. You create a trust by executing a document called a trust agreement (we suggest these Weyerhaeuser clients have an attorney draft any type of trust to be sure it accomplishes what they want).

A trust can't distribute property it does not own, so you must also transfer ownership of your property to the name of the trust. Properties without ownership documentation (e.g., jewelry, tools, furniture) are transferred to a trust by listing the items on a trust schedule. Property with ownership documents must be re-titled or re-registered. You must also name a trustee to administer the trust and manage the trust property. With a living trust, you can name yourself trustee, but you'll need to name a successor trustee who'll transfer the property to your heirs after your death.

Tip: A living trust is also a good way to protect your property in case you become incapacitated.

While property that passes by will is subject

to probate, property that passes by a trust,

beneficiary designation, or joint ownership

arrangement bypasses probate.

Beneficiary Designations

Property that is contractual in nature, such as life insurance, annuities, and retirement accounts, passes to heirs by beneficiary designation. Typically, all you have to do is fill out a form and sign it. Beneficiaries can be persons or entities, such as a charity or a trust, and you can name multiple beneficiaries to share the proceeds. You should name primary and contingent beneficiaries.

Caution: You shouldn't name minor children as beneficiaries. You can, however, name a guardian to receive the proceeds for the benefit of the minor child.

We suggest that these Weyerhaeuser clients consider the income and estate tax ramifications for their heirs and their estate when naming a beneficiary. For example, proceeds your beneficiaries receive from life insurance are generally not subject to income tax, while your beneficiaries will have to pay income tax on proceeds received from tax-deferred retirement plans (e.g., traditional IRAs).

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These Weyerhaeuser clients should check with a financial planning professional to determine whether their beneficiary designations will have the desired results. Be sure to re-evaluate your beneficiary designations when your circumstances change (e.g., marriage, divorce, death of beneficiary). You can't change the beneficiary with your will or a trust. You must fill out and sign a new beneficiary designation form.

Caution: Some beneficiaries can't be changed. For example, a divorce decree may stipulate that an ex-spouse will receive the proceeds.

Tip: Certain bank accounts and investments also allow you to name someone to receive the asset at your death.

Joint Ownership Arrangements

Two (or more) persons can own property equally, and at the death of one, the other becomes the sole owner. This type of ownership is called joint tenancy with rights of survivorship (JTWRS). A JTWRS arrangement between spouses is known as tenancy by the entirety in certain states, and a handful of states have a form of joint ownership known as community property.

Caution: There is another type of joint ownership called tenancy in common where there is no right of survivorship. Property held as tenancy in common will not pass to a joint owner automatically, although you can leave your interest in the property to your heirs in your will.

You may find joint ownership arrangements are useful and convenient with some types of property, but may not be desirable with all of your property. For example, having a joint checking account ensures that, upon your death, an heir will have immediate access to needed cash. And owning an out-of-state residence jointly (e.g., a vacation home) can avoid an ancillary probate process in that state. But it may not be practical to own property jointly where frequent transactions are involved (e.g., your investment portfolio or business assets) because you may need the joint owner's approval and signature for each transaction.

There are some other disadvantages to joint ownership arrangements, including: (1) your co-owner has immediate access to your property, (2) naming someone who is not your spouse as co-owner may trigger gift tax consequences, and (3) if the co-owner has debt problems, creditors may go after the co-owner's share.

Caution: Unlike with most other types of property, a co-owner of your checking or savings account can withdraw the entire balance without your knowledge or consent.

What are the specific eligibility criteria for employees to participate in the Weyerhaeuser Pension Plan, and how do these criteria differ among salaried, non-union hourly, and union hourly employees? Understanding the nuanced eligibility requirements for the Weyerhaeuser Pension Plan is vital for employees considering their future retirement options. These guidelines not only determine who can partake in the plan but also influence the pension benefits they may accrue. Additionally, it would be beneficial to explore how changes in employment statusâ€”such as termination or reduction of hoursâ€”impact continuous eligibility in the plan.

Eligibility Criteria: Participation in the Weyerhaeuser Pension Plan depends on several factors, including whether an employee is salaried, non-union hourly, or union hourly. Salaried and non-union hourly employees accrue service until their employment ends, whereas union hourly employees' participation depends on collective bargaining agreements, with specific plan closure dates applicable at certain locations(Weyerhaeuser Company_Ef…).

Can you explain the process for calculating retirement benefits under the Weyerhaeuser Pension Plan, and what factors might affect final benefit amounts? This question delves into the critical components utilized in determining the retirement benefits for employees at Weyerhaeuser Company. Various elements such as length of service, salary history, and any contribution caps set by the IRS can significantly shape what an employee ultimately receives. Itâ€™s essential for employees to grasp how these factors interplay and what they can do to optimize their benefits as they approach retirement.

Retirement Benefit Calculation: Retirement benefits under the Weyerhaeuser Pension Plan are determined by a combination of vesting service and credited service. Vesting service establishes eligibility for benefits, while credited service calculates the benefit amount. Other factors, such as salary history, age at retirement, and IRS contribution limits, also affect the final benefit(Weyerhaeuser Company_Ef…).

What are the available options for beneficiaries under the Weyerhaeuser Pension Plan, and what specific documentation is necessary for designating a beneficiary? Naming a beneficiary is a crucial aspect of financial planning within the Weyerhaeuser Pension Plan. Employees must understand the rules surrounding beneficiary designations, especially in scenarios involving spouses and children. Furthermore, it is essential to explore the implications of these designations on peace of mind and financial security for the employeeâ€™s family.

Beneficiary Designation: Employees are required to designate a beneficiary for the pension plan, especially if they are married. If married, the spouse must be the primary beneficiary unless written consent is provided. Employees can name contingent beneficiaries if their spouse predeceases them, and these designations must be submitted on approved forms(Weyerhaeuser Company_Ef…).

In what ways can employees initiate the claims process if they believe there has been an error in their pension benefit calculations at Weyerhaeuser Company? This process encompasses several steps, starting with how to formally lodge a complaint about potential discrepancies in pension calculations. Clear communication channels within Weyerhaeuser's administrative structure must be succinctly outlined for employees. Additionally, understanding the implications of unresolved claims on their financial future adds depth to this inquiry.

Claims Process: If an employee believes there has been an error in their pension benefit calculation, they can file a claim in writing with the Weyerhaeuser Pension Service Center. The employee will receive a written decision within 90 days, with an additional 90-day extension if needed. If the claim is denied, the employee can appeal the decision(Weyerhaeuser Company_Ef…).

What kind of healthcare benefits is available to retirees from Weyerhaeuser Company, and how do these benefits interplay with the pensions under the Weyerhaeuser Pension Plan? Examining the intersection of pension benefits with retiree healthcare provisions can reveal critical information for employees planning their post-retirement lives. Employees should understand what healthcare coverage entails and how it could affect their overall financial wellbeing once they transition into retirement.

How does Weyerhaeuser Company ensure compliance with the Employee Retirement Income Security Act (ERISA) with respect to the administration of the Pension Plan? ERISA sets forth numerous regulations that govern employee benefits plans, and understanding how Weyerhaeuser adheres to these guidelines is important for employees. This inquiry should focus on specific practices that ensure transparency, equity, and protection for employees' pension rights under this federal law.

ERISA Compliance: Weyerhaeuser ensures compliance with ERISA by providing employees with the necessary documents, including summary plan descriptions and annual reports. ERISA also grants employees the right to obtain information about their benefits, including the Plan's funding status and eligibility requirements(Weyerhaeuser Company_Ef…).

What potential risks should employees be aware of when considering the termination of the Weyerhaeuser Pension Plan, and what recourse do they have if this occurs? Understanding the risks associated with plan termination, including the financial impact on retirement savings, is crucial for employees. Furthermore, Weyerhaeuser's obligations in such a scenario and the options available to employeesâ€”whether itâ€™s transitioning to another plan or taking a lump-sum payoutâ€”should be addressed.

Plan Termination Risks: Employees should be aware that if Weyerhaeuser terminates the pension plan, their benefits may still be insured by the Pension Benefit Guaranty Corporation (PBGC). However, some benefits, such as recent increases or non-vested benefits, may not be fully covered by PBGC(Weyerhaeuser Company_Ef…).

What resources does Weyerhaeuser Company provide for employees to calculate their estimated benefits before retirement, and how can these estimates assist in retirement planning? Tools and resources offered by Weyerhaeuser to facilitate personal benefit calculations play a pivotal role in financial planning. Employees should know where to access these tools, which can provide insights into potential retirement income and underscore the importance of proactive planning.

Resources for Estimating Benefits: Weyerhaeuser provides tools and resources, such as benefit estimate calculators, through the Weyerhaeuser Pension Service Center. Employees are encouraged to use these tools to help with retirement planning, including understanding potential income and preparing for retirement(Weyerhaeuser Company_Ef…).

How can Weyerhaeuser employees effectively contact the Pension Service Center for detailed inquiries regarding their pension benefits or the claims process? Efficient communication with the Pension Service Center is vital for employees seeking clarification about their benefits. Detailing the various methods availableâ€”such as phone, mail, or onlineâ€”will ensure that employees can swiftly address their questions and concerns regarding the Weyerhaeuser Pension Plan.

Contacting the Pension Service Center: Employees can contact the Weyerhaeuser Pension Service Center via phone at 866-288-2510 or online through the company's benefits portal. The service center provides assistance with benefit calculations, claims, and general inquiries about the pension plan(Weyerhaeuser Company_Ef…).

What changes to the Weyerhaeuser Pension Plan should employees be aware of that might affect their benefits or participation in the plan, and how are these communicated to employees? Awareness of any amendments to the pension plan is essential for employees to understand how their benefits may be influenced. Weyerhaeuser's approach to communicating these changes, whether through direct correspondence or public announcements, is key to ensuring that employees stay informed and can adapt their retirement planning accordingly.

Plan Changes: Employees will be notified of any material changes to the Weyerhaeuser Pension Plan through Summary of Material Modifications (SMM) documents. It is essential for employees to stay informed of these updates, as they can impact pension benefits and participation(Weyerhaeuser Company_Ef…).