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

Is a Rollover into an IRA the Right Move for You as a Autodesk Employee?

Healthcare Provider Update: Healthcare Provider for Autodesk Autodesk primarily offers healthcare benefits to its employees through various insurance providers. The specific providers can vary based on location and employee choice, but notable insurers often include UnitedHealthcare, Anthem Blue Cross Blue Shield, and Kaiser Permanente. These companies typically provide a spectrum of health plans including but not limited to HMO, PPO, and high-deductible plans that align with the company's wellness initiatives and employee health needs. Potential Healthcare Cost Increases in 2026 Healthcare costs are projected to rise significantly for Autodesk employees in 2026, largely influenced by steep increases in Affordable Care Act (ACA) premiums. As various states anticipate rate hikes that could exceed 60%, the expiration of enhanced federal subsidies could further exacerbate this situation, leading to average premium increases of more than 75% for many enrollees. Coupled with ongoing inflationary pressures in the healthcare industry-such as rising costs for medical services and high-priced pharmaceuticals-these factors are likely to result in a financially challenging landscape for employees as they navigate their health insurance options. Strategic planning will be vital for employees to manage these rising costs effectively. Click here to learn more

Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a Autodesk-sponsored plan. You may also gain more investment options than what may have been available in your Autodesk-sponsored plan. You may also gain oversight of managing these important retirement assets from your trusted Advisor.

If you roll your retirement plan assets over into an IRA account that you already own through your Advisor, you also receive the benefit of combined statements and holistic investment planning, making it easier to track your overall financial situation.

'Receive the benefit of combined statements and holistic investment planning, making it easier to track your overall financial situation.'

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Some of the benefits of rolling your money into an IRA include:

Tax-deferred growth potential: This generally avoids current income tax and distribution penalties when removed from a Autodesk-sponsored retirement plan.

More investment choices: This allows for additional contributions, if eligible. IRAs can be combined and handled by one provider, thereby reducing trustee costs and consolidating statements. Protection from creditors in federal bankruptcy proceedings. The combined amount of your required minimum distributions (RMDs) can be taken from any of your Traditional, SEP or SIMPLE IRAs.

However, there are also some important considerations that Autodesk should make before rolling over their money into an IRA, these include:

Internal management fees might be higher than in a Autodesk-sponsored retirement plan.
Fees and expenses depend largely on the investments you choose.
Loans from an IRA are not allowed.
Early distributions may be subject to a 10% IRS tax penalty in addition to income tax.
RMDs begin April 1 following the year you reach 70½ and annually thereafter; leaving the money in the former Fortune-500 plan may allow RMDs to be delayed until separation from service.
IRAs are subject to state laws governing malpractice, divorce, creditors (outside of bankruptcy), and other lawsuits; leaving the money in the former Autodesk-plan may provide additional protection against creditors.
Net unrealized appreciation (NUA) is the difference between what you paid for employer securities and their increased value. You lose favorable tax treatment of NUA if the funds are rolled into an IRA.

Hopefully, these insights will be helpful as you plan your retirement from Autodesk.

For more information about this topic, view our e-book here: https://retirekit.theretirementgroup.com/will-your-retirement-plan-retire-with-you-e-brochure-offer

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What is Autodesk's 401(k) plan?

Autodesk's 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out, helping them to build a nest egg for retirement.

How can Autodesk employees enroll in the 401(k) plan?

Autodesk employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

Does Autodesk offer a company match for its 401(k) contributions?

Yes, Autodesk offers a company match for employee contributions to the 401(k) plan, which helps employees boost their retirement savings.

What is the maximum contribution limit for Autodesk's 401(k) plan?

The maximum contribution limit for Autodesk's 401(k) plan aligns with IRS guidelines, which may change annually. Employees should check the latest limits on the IRS website or consult HR.

Can Autodesk employees change their contribution percentage at any time?

Yes, Autodesk employees can change their contribution percentage at any time, typically through the HR portal or by contacting HR.

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

Autodesk's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.

When can Autodesk employees start withdrawing from their 401(k) plan?

Autodesk employees can start withdrawing from their 401(k) plan at age 59½, but there are specific rules and potential penalties for early withdrawals.

Does Autodesk provide financial education resources for employees regarding their 401(k)?

Yes, Autodesk provides financial education resources and workshops to help employees understand their 401(k) options and make informed decisions about their retirement savings.

What happens to Autodesk employees' 401(k) accounts if they leave the company?

If Autodesk employees leave the company, they have several options for their 401(k) accounts, including rolling over the funds to a new employer's plan or to an individual retirement account (IRA).

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

Yes, Autodesk allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.

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

This news is significant due to the ongoing economic volatility, which has prompted companies to streamline operations and cut costs. The shift to a subscription model reflects broader trends in the tech industry toward recurring revenue streams, essential for investors to monitor. Additionally, understanding the impact on employment and the company's strategic direction is crucial for stakeholders navigating the current tax and political environment (TheLayoff.com) (3DPrint).

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For more information you can reach the plan administrator for Autodesk at 111 McInnis Pkwy San Rafael, CA 94903; or by calling them at +1 415-507-5000.