Healthcare Provider Update: Healthcare Provider Information for Resideo Technologies Resideo Technologies primarily partners with several health insurance providers to offer health benefits to its employees. The exact healthcare providers may vary based on geographic location and specific employee plans; however, many employees utilize plans from major insurers such as UnitedHealthcare, Anthem, and Cigna, as these are prevalent in the market. Potential Healthcare Cost Increases in 2026 In 2026, employees of Resideo Technologies may confront a significant rise in healthcare costs due to a combination of factors. Insurers are requesting premium increases of up to 66% in several states, creating a challenging landscape for many employees relying on Affordable Care Act (ACA) marketplace plans. Coupled with the potential expiration of enhanced federal premium subsidies, nearly 92% of affected policyholders could see their out-of-pocket costs surge by over 75%. This scenario emphasizes the need for employees to review their healthcare options early and align their coverage with anticipated financial needs. Click here to learn more
Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a Resideo Technologies-sponsored plan. You may also gain more investment options than what may have been available in your Resideo Technologies-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 Resideo Technologies-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 Resideo Technologies should make before rolling over their money into an IRA, these include:
- Internal management fees might be higher than in a Resideo Technologies-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 Resideo Technologies-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 Resideo Technologies.
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 Resideo Technologies?
The 401(k) plan at Resideo Technologies is a retirement savings plan that allows employees to save a portion of their earnings on a tax-deferred basis.
How does Resideo Technologies match employee contributions to the 401(k) plan?
Resideo Technologies offers a company match for employee contributions, which is typically a percentage of the employee's contribution, up to a specified limit.
What are the eligibility requirements to participate in the Resideo Technologies 401(k) plan?
Employees of Resideo Technologies are generally eligible to participate in the 401(k) plan after completing a specific period of service, usually outlined in the employee handbook.
Can employees of Resideo Technologies make changes to their 401(k) contributions?
Yes, employees of Resideo Technologies can change their contribution amounts at any time, subject to specific guidelines set by the plan.
What investment options are available in the Resideo Technologies 401(k) plan?
The Resideo Technologies 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Is there a vesting schedule for the employer match in the Resideo Technologies 401(k) plan?
Yes, Resideo Technologies has a vesting schedule for the employer match, meaning employees must work for a certain period to fully own the matched contributions.
How can employees of Resideo Technologies access their 401(k) account information?
Employees can access their 401(k) account information through the online portal provided by the plan administrator, which is accessible via the Resideo Technologies employee resources page.
What happens to the 401(k) plan if an employee leaves Resideo Technologies?
If an employee leaves Resideo Technologies, they can choose to roll over their 401(k) balance into another retirement account, cash out, or leave it in the Resideo plan, subject to the plan's rules.
Are loans available from the 401(k) plan at Resideo Technologies?
Yes, Resideo Technologies allows employees to take loans from their 401(k) accounts under certain conditions, as specified in the plan documents.
Can employees of Resideo Technologies withdraw funds from their 401(k) before retirement?
Employees may be able to withdraw funds from their 401(k) before retirement under specific circumstances, such as financial hardship, but penalties may apply.
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