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

Navigating Inflation: Essential Insights for Big Lots Employees to Safeguard Their Retirement Plans

Healthcare Provider Update: Healthcare Provider for Big Lots Big Lots, a leading American retail company, partners with UnitedHealthcare to provide health insurance benefits to its employees. This arrangement is crucial for ensuring that Big Lots' workforce has access to essential healthcare resources. Potential Healthcare Cost Increases in 2026 Looking ahead to 2026, significant increases in healthcare costs are anticipated, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Premium hikes could average around 20%, with some states potentially seeing increases over 60% due to factors like higher medical costs and the expiration of enhanced federal subsidies. As a result, eligible individuals may experience a staggering 75% rise in out-of-pocket premium expenses, putting substantial financial pressure on many families and complicating access to necessary healthcare. Click here to learn more

As a Big Lots employee earning a good wage, remember when everyday products were much cheaper than they are now? That's a real-life example of inflation, an unavoidable phenomenon that erodes the value of money by pushing prices up over time. If capital isn't being put to work and making a return during inflationary periods, the purchasing power of investor capital is declining.

'If capital isn't being put to work and making a return during inflationary periods, the purchasing power of investor capital is declining.'

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As a Big Lots employee interested in investing, it is important to consider how investors have a wide range of tools at their disposal to protect their portfolios from inflation. Some prefer inflation-protected bonds, while others swear by commodities such as gold as effective inflation hedges. Investing in stocks has historically been one of the best ways to offset, or even outpace, inflation's degenerative effects on one's savings. For Big Lots employees, it is important to account for this information when planning your finances as to create a portfolio that minimizes volatility and accounts for inflation.

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We still have a tremendous amount of interest from advisors looking into commodity funds, ETFs and other inflation protection instruments to protect against potential inflation.

What is the 401(k) plan offered by Big Lots?

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

How can employees of Big Lots enroll in the 401(k) plan?

Employees of Big Lots can enroll in the 401(k) plan by completing the enrollment process through the company’s benefits portal or by speaking with the HR department.

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

Yes, Big Lots offers a matching contribution to the 401(k) plan, which helps employees grow their retirement savings.

What is the maximum contribution limit for Big Lots employees participating in the 401(k) plan?

The maximum contribution limit for Big Lots employees in the 401(k) plan is set by the IRS and may change annually; employees should check the current limits for the specific year.

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

Big Lots employees can start contributing to the 401(k) plan after they have completed their eligibility requirements, typically within the first few months of employment.

Are there any fees associated with the Big Lots 401(k) plan?

Yes, there may be administrative fees associated with the Big Lots 401(k) plan, which will be disclosed to employees during the enrollment process.

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

The Big Lots 401(k) plan offers a range of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

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

Yes, Big Lots employees may have the option to take loans against their 401(k) savings, subject to the plan’s terms and conditions.

What happens to the 401(k) plan if a Big Lots employee leaves the company?

If a Big Lots employee leaves the company, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the Big Lots plan if permitted.

How often can Big Lots employees change their 401(k) contribution amounts?

Big Lots employees can typically change their 401(k) contribution amounts at any time, subject to the plan’s rules and guidelines.

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

Big Lots has announced plans to close several underperforming stores and lay off a portion of its workforce as part of a restructuring effort aimed at improving profitability. The company is also reviewing its benefit offerings and adjusting its pension plans to better align with current financial goals.

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For more information you can reach the plan administrator for Big Lots at 4900 E Dublin Granville Rd Westerville, OH 43081; or by calling them at +1 614-278-6800.