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Healthcare Provider Update: Healthcare Provider for Topgolf Callaway Brands Topgolf Callaway Brands partners primarily with UHC (UnitedHealth Group) for employee healthcare coverage. As one of the major players in the insurance market, UHC provides various healthcare plans to Topgolf employees, giving them access to a wide range of medical services and resources. Potential Healthcare Cost Increases in 2026 for Topgolf Callaway Brands As we approach 2026, Topgolf Callaway Brands employees may face significant increases in healthcare costs driven by a combination of factors. Premiums in the ACA marketplace are projected to rise sharply, with some states seeing hikes exceeding 60%. If enhanced federal subsidies are not renewed, 92% of policyholders could potentially see their out-of-pocket premiums surge by over 75%. Consequently, Topgolf employees should prepare for these financial strains by reviewing their health benefits and exploring strategies to mitigate increased expenses effectively. Click here to learn more
Choosing an IRA rollover means that your money remains tax-advantaged and capable of growth, as in a Topgolf Callaway Brands-sponsored plan. You may also gain more investment options than what may have been available in your Topgolf Callaway Brands-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 Topgolf Callaway Brands-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 Topgolf Callaway Brands should make before rolling over their money into an IRA, these include:
- Internal management fees might be higher than in a Topgolf Callaway Brands-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 Topgolf Callaway Brands-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 Topgolf Callaway Brands.
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 Topgolf Callaway Brands offer to its employees?
Topgolf Callaway Brands offers a 401(k) retirement savings plan to its employees.
How can employees of Topgolf Callaway Brands enroll in the 401(k) plan?
Employees of Topgolf Callaway Brands can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Is there a company match for contributions made to the 401(k) plan at Topgolf Callaway Brands?
Yes, Topgolf Callaway Brands provides a company match for employee contributions to the 401(k) plan, subject to certain limits.
What is the minimum contribution percentage required for employees at Topgolf Callaway Brands to receive the company match?
Employees at Topgolf Callaway Brands typically need to contribute at least 3% of their salary to qualify for the company match.
Can employees of Topgolf Callaway Brands choose how their 401(k) contributions are invested?
Yes, employees of Topgolf Callaway Brands can select from a variety of investment options for their 401(k) contributions.
What is the vesting schedule for the company match in the 401(k) plan at Topgolf Callaway Brands?
The vesting schedule for the company match at Topgolf Callaway Brands generally follows a standard schedule, which may vary based on tenure.
Are there any fees associated with the 401(k) plan at Topgolf Callaway Brands?
Yes, there may be administrative fees associated with the 401(k) plan at Topgolf Callaway Brands, which are disclosed in the plan documents.
How often can employees at Topgolf Callaway Brands change their contribution amounts to the 401(k) plan?
Employees at Topgolf Callaway Brands can typically change their contribution amounts on a quarterly basis.
What happens to the 401(k) plan if an employee leaves Topgolf Callaway Brands?
If an employee leaves Topgolf Callaway Brands, they have several options for their 401(k) plan, including rolling it over to another retirement account or cashing it out.
Does Topgolf Callaway Brands offer educational resources about the 401(k) plan?
Yes, Topgolf Callaway Brands provides educational resources and workshops to help employees understand their 401(k) plan options.
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