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 TopBuild Employees

Healthcare Provider Update: Healthcare Provider for TopBuild TopBuild Corporation typically partners with major insurers to provide health benefits to its employees. As of now, TopBuild collaborates with UnitedHealthcare for its healthcare coverage options, facilitating access to a wide range of health services for its workforce. Potential Healthcare Cost Increases in 2026 Looking ahead to 2026, healthcare costs are projected to surge significantly, primarily driven by anticipated record hikes in Affordable Care Act (ACA) premiums. With some states expecting increases upwards of 60%, nearly 92% of ACA enrollees could see their out-of-pocket premiums rise by over 75, driven by the expiration of enhanced federal subsidies and increasing medical costs. Insurers are grappling with escalating healthcare expenses, leading to a perfect storm of financial strain on consumers as they navigate the impending marketplace changes. As a result, strategies to mitigate these costs will be essential for families and individuals in the coming year. 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 TopBuild.

1. Mental Benefits

Working during your TopBuild 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 TopBuild 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 TopBuild 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 TopBuild.

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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 401(k) plan offered by TopBuild?

The 401(k) plan offered by TopBuild is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

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

Yes, TopBuild offers a matching contribution to the 401(k) plan, helping employees to grow their retirement savings.

What is the eligibility requirement for TopBuild's 401(k) plan?

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

How can employees enroll in TopBuild's 401(k) plan?

Employees can enroll in TopBuild's 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.

What types of investment options are available in TopBuild's 401(k) plan?

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

Can employees change their contribution amount to the 401(k) plan at TopBuild?

Yes, employees at TopBuild can change their contribution amount at any time, subject to the plan's guidelines.

What is the vesting schedule for TopBuild's 401(k) matching contributions?

TopBuild has a vesting schedule for matching contributions, meaning employees must work for a certain period before they fully own the matched funds.

Are there loan options available through TopBuild's 401(k) plan?

Yes, TopBuild allows employees to take loans against their 401(k) balance under certain conditions, providing flexibility for financial needs.

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

If you leave TopBuild, you can choose to roll over your 401(k) balance to a new employer's plan, an IRA, or withdraw the funds, subject to tax implications.

How often can employees contribute to TopBuild's 401(k) plan?

Employees can contribute to TopBuild's 401(k) plan with each paycheck, allowing for regular savings throughout the year.

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

TopBuild announced a restructuring plan to streamline operations, resulting in a reduction of 5% of its workforce. The company is also modifying its benefits package to include more flexible work arrangements and updated retirement planning options.