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 PerkinElmer Employee?

Healthcare Provider Update: Healthcare Provider for PerkinElmer PerkinElmer, a key player in the diagnostics and life sciences industry, offers its employees access to various healthcare providers through employer-sponsored health plans. Typically, these plans include options from prominent national insurers such as UnitedHealthcare, Anthem, and Cigna, but specific provider networks may vary based on the region and the type of plan selected. Potential Healthcare Cost Increases in 2026 As we approach 2026, PerkinElmer and its employees may face significant increases in healthcare costs amidst a challenging landscape. Predicted healthcare premiums for Affordable Care Act (ACA) marketplace plans are set to rise sharply, with some states anticipating hikes exceeding 60%. Contributing factors include the expiration of enhanced federal subsidies, rising medical inflation, and aggressive rate requests from major insurers. With over 22 million marketplace enrollees expected to see their out-of-pocket premiums surge by more than 75%, strategic planning for healthcare expenses will be critical for individuals and families in the coming year. Click here to learn more

Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a PerkinElmer-sponsored plan. You may also gain more investment options than what may have been available in your PerkinElmer-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 PerkinElmer-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 PerkinElmer should make before rolling over their money into an IRA, these include:

Internal management fees might be higher than in a PerkinElmer-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 PerkinElmer-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 PerkinElmer.

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 PerkinElmer?

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

How can I enroll in the 401(k) plan at PerkinElmer?

Employees can enroll in the PerkinElmer 401(k) plan through the company’s HR portal or by contacting the HR department for assistance with the enrollment process.

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

Yes, PerkinElmer provides a company match for employee contributions to the 401(k) plan, which helps employees maximize their retirement savings.

What is the eligibility requirement to participate in PerkinElmer's 401(k) plan?

Employees at PerkinElmer are typically eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the employee handbook.

How much can I contribute to the PerkinElmer 401(k) plan each year?

Employees can contribute up to the IRS limit for 401(k) contributions, which may change annually. PerkinElmer encourages employees to check the current limits for accurate information.

Are there any investment options available in PerkinElmer's 401(k) plan?

Yes, PerkinElmer offers a variety of investment options within the 401(k) plan, including mutual funds and other investment vehicles to help employees grow their retirement savings.

Can I change my contribution amount to the 401(k) plan at PerkinElmer?

Yes, employees can change their contribution amounts to the PerkinElmer 401(k) plan at any time, subject to certain guidelines provided by the plan.

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

If you leave PerkinElmer, you have several options for your 401(k), including rolling it over to a new employer’s plan, transferring it to an IRA, or cashing it out, though cashing out may incur taxes and penalties.

When can I start withdrawing from my PerkinElmer 401(k) plan?

Employees can typically begin withdrawing from their PerkinElmer 401(k) plan at age 59½, though there are specific rules and conditions that apply.

Does PerkinElmer offer loans against my 401(k) balance?

Yes, PerkinElmer allows employees to take loans against their 401(k) balance, subject to the terms and conditions of the plan.