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

Discover the Top 5 Advantages of Continuing to Work in Retirement for DISH Network Employees

Healthcare Provider Update: DISH Network Healthcare Provider and Cost Projections for 2026 DISH Network provides healthcare benefits to its employees through Cigna. As for the healthcare landscape moving into 2026, significant increases in costs are anticipated for many American consumers and employers. Health insurance premiums for Affordable Care Act (ACA) marketplace plans are expected to rise sharply, with projected hikes averaging around 20%, and some states nearing 66%. Contributing factors include the expiration of enhanced federal premium subsidies and the ongoing rise in medical expenses due to inflation and increased utilization of healthcare services. Consequently, a substantial portion of the population could face out-of-pocket premium increases exceeding 75%, making effective budgeting and proactive healthcare strategies essential for managing these impending costs. 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 DISH Network.

1. Mental Benefits

Working during your DISH Network 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 DISH Network 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 DISH Network 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 DISH Network.

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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 type of retirement savings plan does DISH Network offer to its employees?

DISH Network offers a 401(k) retirement savings plan to help employees save for their future.

Does DISH Network provide any matching contributions to the 401(k) plan?

Yes, DISH Network provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

What is the eligibility requirement to participate in DISH Network's 401(k) plan?

Employees at DISH Network are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

Can employees at DISH Network choose how much they want to contribute to their 401(k) plan?

Yes, DISH Network allows employees to choose their contribution percentage, up to the IRS annual limit.

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

DISH Network's 401(k) plan includes a variety of investment options, such as mutual funds, target-date funds, and other investment vehicles.

How often can employees change their contribution amount in DISH Network's 401(k) plan?

Employees at DISH Network can change their contribution amount at any time, typically through the online benefits portal.

Is there a vesting schedule for DISH Network's matching contributions in the 401(k) plan?

Yes, DISH Network has a vesting schedule for matching contributions, which means employees must work for a certain period before they fully own those contributions.

Can DISH Network employees take loans against their 401(k) savings?

Yes, DISH Network allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

What happens to the 401(k) plan if an employee leaves DISH Network?

If an employee leaves DISH Network, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the DISH Network plan if eligible.

Does DISH Network offer financial education resources for employees regarding their 401(k) plan?

Yes, DISH Network provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.

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

DISH Network offers a comprehensive 401(k) plan to its employees, focusing on flexibility and growth. The plan allows employees to contribute between 1% and 50% of their eligible pay, with the company providing a 50% match on contributions up to $5,000 annually. In addition to this, DISH Network may offer profit-sharing contributions, decided annually by the Board of Directors, which could significantly boost retirement savings. Eligibility for the 401(k) plan requires employees to be at least 19 years old and to have completed 90 days of service. Employees are automatically enrolled with a 3% contribution to a Target Date Freedom Fund unless they choose to opt out. The vesting for company contributions and profit-sharing increases by 20% annually, achieving full ownership after five years of service. DISH Network's pension offerings include profit-sharing, which directly contributes to the 401(k) account, rather than a separate pension plan. There is no separate traditional pension plan mentioned; rather, the focus is on 401(k) contributions and profit-sharing, indicating that the company's retirement benefits are structured to maximize tax-advantaged savings through these defined contribution plans.

Layoffs and Restructuring: In 2023, DISH Network continued its restructuring efforts, which began in 2020, resulting in several rounds of layoffs. These actions are part of DISH’s broader strategy to reduce operational costs amid declining business performance and increasing debt levels. As of mid-2023, the company had laid off approximately 3,000 employees. DISH Network is also under financial pressure due to its costly expansion of the 5G wireless network and has been considering a merger with EchoStar to address these challenges. The impact of these layoffs is significant given the broader economic and investment environment, as the company’s financial instability could have long-term consequences on its workforce and operations. This news is crucial to monitor because of the ongoing economic uncertainty, rising interest rates, and potential implications for DISH’s debt refinancing

DISH Network offers stock options and Restricted Stock Units (RSUs) to its employees as part of its compensation package. Specifically, in 2023, DISH Network granted significant equity awards to key executives, including stock options and RSUs with vesting periods designed to retain top talent. For example, Mr. Hamid Akhavan, the newly appointed CEO, received an annual award of 750,000 RSUs with a one-year vesting period and a one-time award of 2,000,000 stock options with three-year ratable vesting. Similarly, other executives like Mr. John W. Swieringa, received 500,000 stock options and 200,000 RSUs, each with a five-year ratable vesting beginning in 2025. These stock options and RSUs are typically made available to senior executives and key management personnel at DISH Network. The terms of these equity awards, including vesting schedules and eligibility, are outlined in the company’s SEC filings, such as the 10-K Annual Report and specific 8-K filings related to executive compensation agreements.

DISH Medical Plan (DMP): The primary health insurance plan offered by DISH, which includes a range of healthcare services, preventive care, and access to prescription drugs through OptumRx. Health Savings Account (HSA): Employees can contribute to an HSA, which DISH supplements with free contributions, allowing for tax-advantaged savings for medical expenses. Flexible Spending Accounts (FSA): These include a Health Care FSA, Dependent Care FSA, and Transportation FSA, offering employees additional ways to manage and save on healthcare and related expenses. Employee Assistance Program (EAP): Provides confidential support for various personal and work-related issues, including mental health, with up to five free counseling sessions per issue per year.

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For more information you can reach the plan administrator for DISH Network at 9601 S Meridian Blvd Englewood, CO 80112; or by calling them at (303) 723-1000.

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