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

Healthcare Provider Update: Healthcare Provider for SpartanNash SpartanNash partners with major healthcare providers and insurers for employee health benefits, typically working with Blue Cross Blue Shield and other prominent companies to deliver comprehensive healthcare options to its workforce. Potential Healthcare Cost Increases in 2026 As projections for 2026 emerge, SpartanNash employees may face significant healthcare cost hikes amid a challenging landscape. With anticipated increases in Affordable Care Act (ACA) premiums ranging from 18% to over 60% in various states, workers could see their out-of-pocket expenses soar dramatically. The potential expiration of enhanced federal premium subsidies and ongoing medical cost inflation are key factors driving these increases. Unless Congress acts to renew support, many employees could experience premium rises exceeding 75%, making 2026 a critical year for financial planning related to healthcare expenses. Click here to learn more

Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a SpartanNash-sponsored plan. You may also gain more investment options than what may have been available in your SpartanNash-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.'

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 SpartanNash-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 SpartanNash should make before rolling over their money into an IRA, these include:

• Internal management fees might be higher than in a SpartanNash-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 SpartanNash-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 SpartanNash.

 

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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