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 Valmont Industries Employee?

Healthcare Provider Update: Healthcare Provider for Valmont Industries Valmont Industries primarily provides health insurance through its employee benefits program, partnering with major national insurers such as UnitedHealthcare and Anthem Blue Cross Blue Shield. These providers offer various plans tailored to the needs of Valmont's workforce, which can include options for medical, dental, and vision coverage. --- Potential Healthcare Cost Increases in 2026 for Valmont Industries As Valmont Industries prepares for 2026, employees should be aware of anticipated increases in healthcare costs. Factors contributing to these hikes include rising medical expenses and significant premium increases within the Affordable Care Act marketplace. With some states projected to see hikes exceeding 60%, many employees could face a substantial uptick in out-of-pocket premiums-potentially exceeding 75% for those enrolled in individual marketplace plans. As employers evolve their benefit structures to manage these cost pressures, understanding these dynamics will be crucial for Valmont employees in navigating their healthcare choices effectively. Click here to learn more

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

Internal management fees might be higher than in a Valmont Industries-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 Valmont Industries-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 Valmont Industries.

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