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Healthcare Provider Update: Healthcare Provider for Campbell Soup The healthcare provider for Campbell Soup Company is generally through the United Healthcare Group, which provides employer-sponsored health insurance plans that cover the healthcare needs of its employees. Potential Healthcare Cost Increases in 2026 In 2026, Campbell Soup and its employees may face significant healthcare cost increases due to a confluence of factors, including projected ACA marketplace premium hikes of up to 66% in some states. The expiration of enhanced federal premium subsidies threatens to elevate out-of-pocket costs for 92% of policyholders, potentially spiking monthly premiums by over 75%. Meanwhile, rising medical costs, driven by increased healthcare utilization and ongoing inflationary pressures, could compel the company to reconsider its healthcare offerings, impacting employee benefits and overall affordability. Thus, both employers and employees should prepare for a challenging financial landscape as they navigate these troubling healthcare trends. Click here to learn more
'Campbell Soup employees can benefit from understanding how progressive tax brackets influence long-term income planning,' explains Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement. 'That's why I encourage individuals to review these rules carefully and consult a qualified tax professional for guidance tailored to their situation.'
'Campbell Soup employees can gain clarity in their retirement planning by recognizing how federal tax brackets shape income decisions,' says Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement. 'I encourage individuals to work with a qualified tax professional to evaluate how these rules may apply to their circumstances.'
In this article, we will discuss:
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How federal tax brackets work and why they matter.
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How taxable income is calculated for retirement planning.
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Strategies that may help reduce taxable income.
Navigating taxes can feel more manageable when you understand how your income is allocated to various federal tax bands. Income tax is calculated by the IRS using seven brackets that adjust annually for inflation. You do not pay the same rate on every dollar you earn because income is taxed progressively. Instead, your taxable income is divided into ranges, each taxed at its own rate. Campbell Soup employees can benefit from understanding how their tax brackets may change as they prepare for retirement income decisions.
Below are the IRS’s official 2025 and 2026 bracket tables, along with an explanation of how federal brackets work. The Retirement Group can help review how these rules may influence your long-term income strategy. You can reach us at (800) 900-5867 .
How Federal Tax Brackets Work
The seven federal income tax brackets in the United States are 10%, 12%, 22%, 24%, 32%, 35%, and 37% .
This progressive structure means that each additional portion of income is taxed according to the next bracket as taxable income increases, which may be important for Campbell Soup employees reviewing future retirement income.
Your marginal tax rate applies to the last dollar of taxable income you earn. Your effective tax rate represents the overall percentage of income paid toward federal tax after all brackets are applied.
Your tax brackets also depend on the filing status you choose:
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- Single
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- Married filing jointly
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- Married filing separately
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- Head of household (single with a qualifying dependent)
The IRS adjusts these brackets every year to account for inflation.
How Your Taxable Income Is Calculated
To determine taxable income, start by adding all sources of taxable income, such as interest, qualifying pre-2019 alimony, tips, bonuses, and both employment and freelance earnings.
Next, subtract items already included on your W-2, such as contributions to a health savings account (HSA) or retirement plan contributions through your employer (401(k)).
Then subtract either your itemized deductions or the standard deduction—whichever applies. The remaining amount is your taxable income.
A Federal Effective Tax Rate Example
If a married couple with $150,000 in total income files jointly in 2025 and takes the standard deduction of $31,500 , their taxable income becomes $118,500 . Their federal tax calculation would look like this:
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- 10% on the first $23,850 → $2,385
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- 12% on $23,851 to $96,950 → $8,772
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- 22% on the remaining amount up to $118,500 → $4,741
- Total federal income tax: $15,898
- Effective tax rate: approximately 10.6%
(All bracket values sourced from IRS inflation adjustment notices above.)
Possible Strategies to Lower Taxable Income
These approaches may help reduce taxable income and potentially push you into a lower tax bracket:
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- Contributing to traditional IRAs or employer retirement plans
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- Adding funds to an HSA if enrolled in a qualifying high-deductible health plan
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- Using tax-loss harvesting in taxable brokerage accounts
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- Considering the timing of controlled income, such as bonuses or freelance payments
Starting in 2026, taxpayers who do not itemize may deduct up to $1,000 (single filers) or $2,000 (married filing jointly) for eligible cash charitable contributions.
Do You Have Questions About How Taxes Influence Retirement?
Federal tax brackets play a key role in retirement planning, especially when reviewing withdrawal timing, Social Security decisions, and income sources. Campbell Soup employees can explore how tax rules fit into their broader retirement planning with guidance from The Retirement Group .
For personalized retirement discussions, call us at (800) 900-5867 .
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Sources:
1. Internal Revenue Service.
Revenue Procedure 2024-40.
22 Oct. 2024,
https://www.irs.gov/pub/irs-drop/rp-24-40.pdf
. Accessed 8 Dec. 2025.
2. Tax Policy Center.
“How Do Federal Income Tax Rates Work?”
Tax Policy Center Briefing Book
, Jan. 2024,
https://www.taxpolicycenter.org/briefing-book/how-do-federal-income-tax-rates-work
. Accessed 8 Dec. 2025.
3. Financial Industry Regulatory Authority (FINRA).
“Retirement Accounts.”
FINRA for Investors
,
https://www.finra.org/investors/investing/investment-accounts/retirement-accounts
. Accessed 8 Dec. 2025.
4. Adams, Hayden.
“Using Tax Brackets to Manage Your Taxable Income.”
Charles Schwab
, 12 Feb. 2025,
https://www.schwab.com/learn/story/using-tax-brackets-to-manage-your-taxable-income
. Accessed 8 Dec. 2025.
5. Vanguard.
“Year-End Tax-Savings Tips.”
Vanguard Investor Resources & Education
, 26 Aug. 2025,
https://investor.vanguard.com/investor-resources-education/article/year-end-tax-tips
. Accessed 8 Dec. 2025.
What are the eligibility requirements for participating in the retirement plan at the Campbell Soup Company, and how does this affect employees who are newly hired or rehired after December 31, 2010? Understanding these eligibility criteria is crucial for current and prospective employees of the Campbell Soup Company, as it dictates participation in the retirement benefits that can provide financial security upon retirement.
Eligibility for Participation: Employees hired or rehired after December 31, 2010, are not eligible for the Campbell Soup Company's Retirement and Pension Plan. However, regular full-time or part-time employees scheduled to work at least 20 hours per week become immediately eligible for participation. Temporary or part-time employees scheduled to work less than 20 hours per week become eligible after working 1,000 hours in their first 12 months, or in subsequent 12-month periods(Campbell_Soup_Company_R…).
Can you explain the differences between the Cash Balance Benefit and the Grandfathered Benefit under the Campbell Soup Company's retirement plan? This distinction is important for employees to understand how their length of service and date of hire could significantly influence their retirement earnings and options, potentially impacting their financial planning for retirement.
Cash Balance Benefit vs. Grandfathered Benefit: The Cash Balance Benefit provides credits based on a percentage of pay, while the Grandfathered Benefit applies to those hired before May 1, 1999. The Grandfathered Benefit is based on the Final Average Pay and years of service. Employees eligible for the Grandfathered Benefit receive the greater of the Cash Balance or Grandfathered Benefit, potentially resulting in higher retirement earnings based on their tenure(Campbell_Soup_Company_R…).
How does the vesting schedule work for the Campbell Soup Company’s retirement plan, and what implications does it have for employees who leave the company before becoming fully vested? Employees of the Campbell Soup Company should consider the vesting requirements to ensure they optimize their benefits and understand how employment duration aligns with retirement planning strategies.
Vesting Schedule: Employees become fully vested after completing three years of service or reaching age 65 while employed. If an employee leaves before becoming vested, they forfeit their benefit. This schedule emphasizes the importance of remaining with the company for a sufficient duration to secure retirement benefits(Campbell_Soup_Company_R…).
What options are available for employees of the Campbell Soup Company when they decide to retire, particularly regarding the form of benefit payment? Understanding these options is essential for planning a comfortable retirement, as employees need to make informed choices that align with their financial goals and personal circumstances.
Benefit Payment Options: Campbell Soup Company offers several forms of benefit payments, including a lump sum, life annuity, and joint survivor annuity. Employees can choose the payment form that best suits their retirement goals. Options like the lump sum allow for flexibility, while annuities provide steady income during retirement(Campbell_Soup_Company_R…).
How does the Campbell Soup Company’s retirement plan handle employees who return to work after a break in service, especially concerning their vesting and benefit accrual? Employees of the Campbell Soup Company need to be aware of these policies to gauge how a break in employment could potentially impact their retirement plans and financial well-being.
Reemployment After Break in Service: If an employee returns after a break in service of less than five years, their prior vesting service and benefits are restored after completing another year of service. However, if the break exceeds five years, prior service is not restored unless the employee was already vested before the break(Campbell_Soup_Company_R…).
What are the implications for spouses of employees in the Campbell Soup Company retirement plan regarding survivor benefits and the necessity for spousal consent under certain circumstances? Knowledge of these provisions is critical for employees as they plan for both their retirement and the potential financial security of their spouses.
Spousal Consent and Survivor Benefits: Spouses are automatically designated beneficiaries unless a waiver is signed. Survivor benefits include either the cash balance account or an actuarial equivalent of the accrued benefit. Spousal consent is necessary if employees choose another beneficiary or a different form of payment, ensuring spousal financial security(Campbell_Soup_Company_R…).
In what ways does the Campbell Soup Company ensure compliance with IRS regulations regarding retirement benefits, and how might changes in these regulations impact employees? Employees should be aware of the relationship between their retirement plans at the Campbell Soup Company and IRS compliance, as ongoing regulatory changes can affect their retirement planning.
IRS Compliance: The plan adheres to IRS regulations, which impose limits on compensation and benefits. Compliance is essential to maintain the tax-advantaged status of the retirement plan. Changes in IRS rules may affect contributions, benefit limits, and tax treatment of distributions(Campbell_Soup_Company_R…).
How is the Cash Balance Benefit calculated for employees of the Campbell Soup Company, and what factors influence the growth of this benefit over time? Employees need to understand this calculation to better plan their financial futures and make informed decisions regarding their contributions and potential retirement income.
Cash Balance Benefit Calculation: The Cash Balance Benefit grows annually through pay-based credits and interest. The percentage of eligible pay credited to the account increases with the employee’s age. This structure encourages long-term employment by increasing retirement savings over time(Campbell_Soup_Company_R…).
What steps should employees of the Campbell Soup Company take to apply for retirement benefits, and what is the timeline for notifying the company about their retirement intentions? Knowing the correct procedures and timelines is vital for employees to ensure a smooth transition into retirement and the timely receipt of benefits.
Retirement Application Process: Employees must notify the Campbell Benefits Center approximately 90 days before retirement to initiate their benefits. This timeline ensures that benefits begin promptly, and employees can make informed decisions about their retirement options(Campbell_Soup_Company_R…).
How can employees of the Campbell Soup Company reach the Campbell Benefits Center to inquire further about their retirement plans or address specific questions related to their benefits? It is essential for employees to have clear contact information, allowing them to seek assistance and enhance their understanding of the retirement options available to them.
Campbell Benefits Center Contact: Employees can reach the Campbell Benefits Center for inquiries related to their retirement plans via the website www.myCampbellBenefits.com or by calling 877-725-2255, ensuring easy access to information and support(Campbell_Soup_Company_R…).
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