Healthcare Provider Update: Healthcare Provider for AECOM AECOM employees are primarily covered through its benefit partnership with UnitedHealthcare. This relationship provides comprehensive health insurance options to the workforce, including various plan structures designed to meet diverse healthcare needs. Potential Healthcare Cost Increases in 2026 In 2026, AECOM employees may face substantial healthcare cost increases as many large companies, including AECOM, prepare to adjust their benefit structures in response to rising medical costs. The Affordable Care Act marketplace is projected to see premium hikes exceeding 60% in some states, primarily reflecting the loss of enhanced federal subsidies. This situation has the potential to significantly raise out-of-pocket expenses for employees as employers may shift more costs onto their workforce; over half are likely to increase deductibles or out-of-pocket limits. Employees need to strategically navigate their options and familiarize themselves with upcoming benefit changes to mitigate the impact of these financial pressures. Click here to learn more
In the past, retirement has been portrayed as an ending, a grand exit from your years in the workplace. But the rules are shifting. Labor force participation among those aged 65-74 is predicted to reach 32 percent by 2022, up from just 20 percent in 2002.(1) As the Boomer generation ages, more people are viewing retirement as an opportunity to enjoy the rewards of work in a whole new way. Read on to discover some of the benefits you can enjoy after you retire from AECOM.
1. Mental Benefits
Working during your AECOM retirement can help maintain mental agility as you learn new skills. Staying engaged in work helps build 'mental muscle,' which can lessen the risk of developing dementia and Alzheimers(2) and ward off the signs of aging.
2.. Physical Benefits
Staying active during your AECOM retirement years is crucial for continued health. Whether you choose to work full-time or volunteer a few days a week, engaging in some form of work will keep your body moving, and give you opportunities to stay balanced, strong, and healthy.
3. Financial Benefits
Besides the obvious extra income, working during your AECOM retirement may allow you to delay taking Social Security benefits. For every year you wait to take Social Security, your benefits can increase by an average of 8 percent annually.(3) Finding a strategy that works for you can truly pay off.
4. Emotional Benefits
Studies have shown that a sense of purpose has been found to lengthen lifespan and quality of life.4 Working on something you care about, starting a new business, or mentoring others in the workplace can ward off depression and provide a healthy sense of fulfillment and direction in your years or retirement from AECOM.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
5. Social Benefits
One of the risks associated with retirement is increased isolation, which in terms of its impact on your health, has been equated with smoking nearly a pack of cigarettes a day.5 Working with others reduces this risk, giving you a chance to build connections and enjoy meaningful interactions.
Sources
1. AARP.org, February/March 2015
2. Forbes, 2017
3. Social Security Administration, 2017
4. Association for Psychological Science, 2017
What is the 401(k) plan offered by AECOM?
AECOM offers a 401(k) plan that allows employees to save for retirement by contributing a portion of their salary on a pre-tax or after-tax basis.
How does AECOM match employee contributions to the 401(k) plan?
AECOM provides a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.
What are the eligibility requirements for AECOM’s 401(k) plan?
Employees of AECOM are generally eligible to participate in the 401(k) plan after completing a specific period of service, typically within the first year of employment.
Can I change my contribution percentage to AECOM's 401(k) plan?
Yes, employees can change their contribution percentage to AECOM's 401(k) plan at any time, subject to certain guidelines.
What investment options are available in AECOM's 401(k) plan?
AECOM's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How can I access my AECOM 401(k) account information?
Employees can access their AECOM 401(k) account information through the plan's online portal or by contacting the plan administrator.
What happens to my AECOM 401(k) if I leave the company?
If you leave AECOM, you can choose to roll over your 401(k) balance to another retirement account, leave it in the AECOM plan, or withdraw the funds, subject to tax implications.
Is there a loan option available through AECOM's 401(k) plan?
Yes, AECOM allows employees to take loans against their 401(k) balance under certain conditions.
How often can I change my investment allocations in AECOM's 401(k) plan?
Employees can change their investment allocations in AECOM's 401(k) plan as often as they wish, typically without restrictions.
Does AECOM offer financial education resources for 401(k) participants?
Yes, AECOM provides financial education resources and workshops to help employees make informed decisions about their 401(k) savings.
5. BenefitsPRO, 2017