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 PVH Employees

Healthcare Provider Update: Healthcare Provider for PVH PVH Corp., known for its popular brands such as Calvin Klein and Tommy Hilfiger, typically utilizes a range of healthcare providers for its employees. These may include major health insurance carriers like UnitedHealthcare, Aetna, and Cigna, depending on the specific needs and regional availability of services. The exact provider can vary based on employee location and plan options. Potential Healthcare Cost Increases in 2026 for PVH As healthcare premiums are anticipated to rise sharply in 2026, PVH could face significant cost increases for its employee health insurance. This surge is driven largely by rising medical costs and the potential expiration of enhanced federal premium tax credits, which could collectively increase out-of-pocket expenses by over 75% for many enrollees. In particular, some states are expecting premium hikes surpassing 60%, placing additional financial pressure on companies like PVH, which will need to strategically assess their healthcare options to manage these impending costs effectively. 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 PVH.

1. Mental Benefits

Working during your PVH 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 PVH 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 PVH 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 PVH.

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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 is the primary purpose of PVH's 401(k) Savings Plan?

The primary purpose of PVH's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a tax-deferred basis.

How can employees enroll in PVH's 401(k) Savings Plan?

Employees can enroll in PVH's 401(k) Savings Plan by accessing the enrollment portal through the company’s HR website or by contacting the HR department for assistance.

What types of contributions can employees make to PVH's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and in some cases, catch-up contributions if they are age 50 or older to PVH's 401(k) Savings Plan.

Does PVH offer a company match for the 401(k) contributions?

Yes, PVH offers a company match for employee contributions to the 401(k) Savings Plan, which helps employees maximize their retirement savings.

What is the vesting schedule for the company match in PVH's 401(k) Savings Plan?

The vesting schedule for the company match in PVH's 401(k) Savings Plan typically follows a graded vesting schedule, which means employees earn ownership of the match over a period of time.

Can employees change their contribution percentage to PVH's 401(k) Savings Plan at any time?

Yes, employees can change their contribution percentage to PVH's 401(k) Savings Plan at any time, usually through the online portal or by contacting HR.

What investment options are available in PVH's 401(k) Savings Plan?

PVH's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Is there a minimum contribution requirement for PVH's 401(k) Savings Plan?

Yes, there is typically a minimum contribution requirement for PVH's 401(k) Savings Plan, which may vary based on the plan's guidelines.

How often can employees make changes to their investment allocations in PVH's 401(k) Savings Plan?

Employees can generally make changes to their investment allocations in PVH's 401(k) Savings Plan on a quarterly basis or as specified by the plan rules.

What happens to an employee's 401(k) balance if they leave PVH?

If an employee leaves PVH, they have several options for their 401(k) balance, including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the PVH plan if permitted.