Healthcare Provider Update: Healthcare Provider for News Corp: News Corp employees typically utilize the health insurance plans provided through the Affordable Care Act (ACA) marketplace, as well as any employer-sponsored health insurance options that may be available. Potential Healthcare Cost Increases in 2026: In 2026, employees at News Corp could face significant increases in healthcare costs as premiums for ACA marketplace plans are predicted to soar. Factors such as rising medical expenses, the potential end of enhanced federal premium subsidies, and aggressive rate hikes from major insurers could result in an average premium increase exceeding 75% for many enrollees. Specifically, some states may witness individual market hikes as high as 66.4%. This combination of factors is set to strain budgets and access to affordable healthcare for many employees. 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 News Corp..
1. Mental Benefits
Working during your News Corp. 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 News Corp. 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 News Corp. 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 News Corp..
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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 type of retirement savings plan does News Corp. offer to its employees?
News Corp. offers a 401(k) retirement savings plan to its employees.
Does News Corp. provide matching contributions to its 401(k) plan?
Yes, News Corp. provides matching contributions to eligible employees participating in the 401(k) plan.
How can employees of News Corp. enroll in the 401(k) plan?
Employees of News Corp. can enroll in the 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.
What is the eligibility requirement for News Corp. employees to participate in the 401(k) plan?
Generally, News Corp. employees must be at least 21 years old and have completed a certain period of service to be eligible for the 401(k) plan.
Can News Corp. employees take loans against their 401(k) savings?
Yes, News Corp. allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
What investment options are available in the News Corp. 401(k) plan?
The News Corp. 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can News Corp. employees change their 401(k) contribution amounts?
News Corp. employees can change their 401(k) contribution amounts at any time, subject to the plan's guidelines.
Is there a vesting schedule for News Corp.’s matching contributions in the 401(k) plan?
Yes, News Corp. has a vesting schedule for its matching contributions, which means employees must work for a certain period before they fully own the matched funds.
What happens to the 401(k) savings if a News Corp. employee leaves the company?
If a News Corp. employee leaves the company, they can choose to roll over their 401(k) savings into another retirement account, cash out, or leave the funds in the News Corp. plan if eligible.
Does News Corp. offer financial education resources for employees regarding the 401(k) plan?
Yes, News Corp. provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.
5. BenefitsPRO, 2017