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 Brookdale Senior Living Employee?

Healthcare Provider Update: Healthcare Provider for Brookdale Senior Living: Brookdale Senior Living collaborates with several healthcare providers to ensure that its residents receive comprehensive care. The primary healthcare partnerships include local hospitals, primary care physicians, and specialized geriatric care providers, facilitating a continuum of care that is essential for the elderly population. Brookdale's integrated healthcare approach helps address the diverse medical needs of its residents, providing services ranging from routine check-ups to specialized treatments. --- Potential Healthcare Cost Increases in 2026: As we approach 2026, Brookdale Senior Living employees and residents may face significant healthcare cost increases. The anticipated rise in health insurance premiums for Affordable Care Act (ACA) marketplace plans, with some states reporting hikes over 60%, could lead to a drastic increase in out-of-pocket expenses. If enhanced federal premium subsidies expire as expected, nearly 92% of marketplace enrollees could see their premiums soar by over 75%. This shift highlights the need for Brookdale's community members to evaluate their healthcare plans and budgets carefully to manage these impending 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 Brookdale Senior Living-sponsored plan. You may also gain more investment options than what may have been available in your Brookdale Senior Living-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 Brookdale Senior Living-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 Brookdale Senior Living should make before rolling over their money into an IRA, these include:

Internal management fees might be higher than in a Brookdale Senior Living-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 Brookdale Senior Living-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 Brookdale Senior Living.

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 type of retirement savings plan does Brookdale Senior Living offer to its employees?

Brookdale Senior Living offers a 401(k) retirement savings plan to its employees.

Is participation in the 401(k) plan at Brookdale Senior Living mandatory?

Participation in the 401(k) plan at Brookdale Senior Living is voluntary; employees can choose to enroll.

What is the employer match for the 401(k) plan at Brookdale Senior Living?

Brookdale Senior Living offers a competitive employer match for contributions made to the 401(k) plan, typically matching a percentage of employee contributions.

When can employees at Brookdale Senior Living enroll in the 401(k) plan?

Employees at Brookdale Senior Living can enroll in the 401(k) plan during their initial onboarding period or during the annual open enrollment period.

How can employees at Brookdale Senior Living make contributions to their 401(k) plan?

Employees at Brookdale Senior Living can make contributions to their 401(k) plan through payroll deductions.

What are the contribution limits for the 401(k) plan at Brookdale Senior Living?

The contribution limits for the 401(k) plan at Brookdale Senior Living are set according to IRS guidelines, which may change annually.

Does Brookdale Senior Living offer any investment options within the 401(k) plan?

Yes, Brookdale Senior Living offers a variety of investment options within the 401(k) plan, including mutual funds and other investment vehicles.

Can employees at Brookdale Senior Living take loans against their 401(k) savings?

Yes, employees at Brookdale Senior Living may have the option to take loans against their 401(k) savings, subject to specific plan rules.

How can employees at Brookdale Senior Living access their 401(k) account information?

Employees at Brookdale Senior Living can access their 401(k) account information online through the plan’s designated website or by contacting the plan administrator.

What happens to the 401(k) plan if an employee leaves Brookdale Senior Living?

If an employee leaves Brookdale Senior Living, they have several options for their 401(k) savings, including rolling it over to another retirement account or cashing it out.

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

Brookdale Senior Living announced a major restructuring plan aimed at reducing operational costs, which includes significant layoffs across several divisions. The company is also reviewing its employee benefits and pension plans as part of this restructuring.

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For more information you can reach the plan administrator for Brookdale Senior Living at 111 Westwood Place Brentwood, TN 37027; or by calling them at +1 615-221-2250.