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Healthcare Provider Update: Healthcare Provider for Hyatt Hotels Hyatt Hotels partners with Lantern Health, a provider focused on connecting employees with a range of healthcare services. Through this relationship, Hyatt aims to enhance employee wellbeing while also reducing costs associated with healthcare. Healthcare Cost Increases for 2026 As we approach 2026, Hyatt Hotels, like many employers, may experience significant healthcare cost increases due to the escalating premiums in the Affordable Care Act (ACA) marketplace. Reports indicate that some states could see hikes exceeding 60%, driven by a combination of rising medical costs, the potential expiration of enhanced federal subsidies, and robust rate hikes proposed by major insurers. As a result, employees could face out-of-pocket premium increases of over 75%, making it crucial to strategically manage healthcare benefits to mitigate these impending financial pressures. Click here to learn more
Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a Hyatt Hotels-sponsored plan. You may also gain more investment options than what may have been available in your Hyatt Hotels-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.
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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 Hyatt Hotels-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 Hyatt Hotels should make before rolling over their money into an IRA, these include:
- Internal management fees might be higher than in a Hyatt Hotels-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 Hyatt Hotels-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 Hyatt Hotels.
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 the 401(k) plan offered by Hyatt Hotels?
The 401(k) plan at Hyatt Hotels is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How can Hyatt Hotels employees enroll in the 401(k) plan?
Employees of Hyatt Hotels can enroll in the 401(k) plan through the company's HR portal or by contacting the HR department for assistance.
Does Hyatt Hotels offer any matching contributions to the 401(k) plan?
Yes, Hyatt Hotels offers matching contributions to the 401(k) plan, which helps employees grow their retirement savings.
What is the eligibility requirement to participate in Hyatt Hotels' 401(k) plan?
Employees of Hyatt Hotels are generally eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.
Can Hyatt Hotels employees change their contribution rate to the 401(k) plan?
Yes, employees at Hyatt Hotels can change their contribution rate to the 401(k) plan at any time, subject to certain guidelines.
What investment options are available in the Hyatt Hotels 401(k) plan?
The Hyatt Hotels 401(k) 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 vesting schedule for Hyatt Hotels' matching contributions to the 401(k) plan?
Yes, Hyatt Hotels has a vesting schedule for matching contributions, which means employees must work for the company for a certain period before they fully own the matching funds.
How can Hyatt Hotels employees access their 401(k) account information?
Employees can access their 401(k) account information through the online portal provided by Hyatt Hotels or by contacting the plan administrator.
Are there any fees associated with the Hyatt Hotels 401(k) plan?
Yes, like most 401(k) plans, the Hyatt Hotels 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.
Can Hyatt Hotels employees take loans against their 401(k) savings?
Yes, Hyatt Hotels allows employees to take loans against their 401(k) savings, subject to the terms and conditions of the plan.
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