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

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

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Healthcare Provider Update: Healthcare Provider for Tapestry: Tapestry, the parent company of luxury fashion brands such as Coach, Kate Spade, and Stuart Weitzman, is associated with UnitedHealthcare, which is part of UnitedHealth Group. UnitedHealthcare provides Tapestry employees with a variety of health insurance options that are typically inclusive of medical, dental, and vision benefits. Potential Healthcare Cost Increases for Tapestry in 2026: As Tapestry navigates the evolving healthcare landscape, substantial increases in healthcare costs are anticipated in 2026. With the potential expiration of enhanced federal premium subsidies for Affordable Care Act (ACA) plans, many enrollees could face premium hikes exceeding 75%. Insurers are reporting a sharp rise in medical costs and have begun to implement rate increases, with some individual market plans (like those from UnitedHealthcare) requesting increases as high as 66.4%. These combined factors may significantly raise Tapestry's healthcare expenses and affect their employee benefits offerings. Click here to learn more

As a Tapestry 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.' woman signing on white printer paper beside woman about to touch the documents

 


As a Tapestry 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 Tapestry 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 Tapestry's 401(k) plan?

Tapestry's 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.

How can I enroll in Tapestry's 401(k) plan?

You can enroll in Tapestry's 401(k) plan by accessing the employee benefits portal and following the enrollment instructions provided.

What types of contributions can I make to Tapestry's 401(k) plan?

Tapestry's 401(k) plan allows for pre-tax contributions, Roth after-tax contributions, and potentially catch-up contributions if you are over 50.

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

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

How much can I contribute to Tapestry's 401(k) plan each year?

For 2023, the maximum employee contribution limit to Tapestry's 401(k) plan is $22,500, with an additional $7,500 catch-up contribution allowed for employees aged 50 and older.

When can I start withdrawing from Tapestry's 401(k) plan?

You can start withdrawing from Tapestry's 401(k) plan without penalties at age 59½, although you may have options for hardship withdrawals earlier.

What investment options are available in Tapestry's 401(k) plan?

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

Can I take a loan from Tapestry's 401(k) plan?

Yes, Tapestry allows employees to take loans from their 401(k) accounts under certain conditions and limits.

How do I change my contribution percentage for Tapestry's 401(k) plan?

You can change your contribution percentage by logging into the employee benefits portal and updating your contribution settings.

What happens to my 401(k) plan if I leave Tapestry?

If you leave Tapestry, you can choose to roll over your 401(k) balance to another retirement account, cash out, or leave it in Tapestry's plan if allowed.

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For more information you can reach the plan administrator for Tapestry at , ; or by calling them at .

*Please see disclaimer for more information

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