New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Essential Considerations for Fortune Brands Home & Security Employees Contemplating Retirement: What You Need to Know Before Making the Leap

Healthcare Provider Update: Healthcare Provider for Fortune Brands Home & Security: Fortune Brands Home & Security typically collaborates with major healthcare insurance providers to offer employee health coverage, but specific details regarding their healthcare contracts can vary. Common providers for companies of their size often include UnitedHealthcare, Aetna, and Cigna. Potential Healthcare Cost Increases in 2026: As 2026 approaches, healthcare costs are expected to surge significantly, driven by a confluence of factors. The impending expiration of enhanced federal premium subsidies under the Affordable Care Act could exacerbate financial strain, with many consumers facing potential out-of-pocket premium increases exceeding 75%. Simultaneously, the overall rise in medical expenses-fueled by inflation in hospital and prescription drug costs-will compound the situation, prompting insurers to propose steep premium hikes. With these challenges, individuals and families may find themselves navigating a precarious financial landscape regarding their healthcare options. Click here to learn more

With all of the changes at Fortune Brands Home & Security employees need to know what steps to take before leaving. Retiring, or worse, losing your job, is a monumental (for better or for worse) moment in your life. Your mind is racing, your palms are sweating, and you simply just doesn't know how to operate. The loss of a job, especially for those with over 20 years of service, affects the same receptors in the brain as the loss of a loved one. You have been connected with Fortune Brands Home & Securityfor 20 years, and now the relationship is over. Remember to reach out to Fortune Brands Home & Security HR & Benefits departments for all Fortune Brands Home & Security summary plan descriptions.

The same five stages of grief apply for a person going through retirement, job loss, or the loss of a loved one. Denial, anger, bargaining, depression, and acceptance are a part of the framework that makes up our learning to get through the lack of employment.

As the reality of the situation settles, your emotions will be a mess. You might feel upset one minute, and annoyed the next, and it can be tempting to vent your frustrations. Remember, acting upon impulse almost never turns out well, and can make a difficult situation even worse.

Here are a few items to check off as you consider leaving Fortune Brands Home & Security:

1. Sit down and carefully analyze your finances. If you have a spouse or signifigant other, involve them in this process. Avoid doing financial business with friends or family. Money and friendships do not mix.

2. Call your Credit Union or Bank, and consider opening a line of credit against your home equity. Consider opening additional credit cards to create an emergency credit line. As many of you have been employed your whole life, you probably won't think to do this - once you are unemployed, it becomes exceedingly difficult to get credit, making it very important you take this line of action.

3. Go over your 401(k) contributions, if you were making them. Decide whether or not you should increase your contributions for your remaining time on payroll, or cease them entirely to build up more immediate cash. How you proceed may have big tax implications. Depending on when you stop contributing, you may end up in a much higher tax bracket due to your severance payment, unemployment, etc.

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4. It's not always wise to file for unemployment immediately after the loss of a job. Depending on the time of year you are laid off, paired with your financial situation, it could be beneficial to wait to file your claim so that your unemployment payments fall in the next tax year, when your overall income is lower due to the fact that you're unemployed. There are an overwhelming number of situations that you want to consider before making a move on this. We recommend speaking with a Fortune Brands Home & Security-focused retirement advisor to go over your options.

5. Unless you believe your layoff was deserved, speak to a trusted lawyer to go over your options. Venting your anger at managers and colleagues may feel amazing temporarily, but it will damage your career in the long run. You spent all this time building up your relationships at Fortune Brands Home & Security why burn them now? Avoid going online even anonymously to berate past Fortune Brands Home & Security staff & management.

6. Have a plan for how to fill the void on your LinkedIn profile and your resume. If you are pursuing a new job, having a job makes it much easier when finding your next adventure. In the mean time, you might consider becoming a consultant until you find a permanent position. You may also find the ability go go back to Fortune Brands Home & Security as a contractor working on your terms.

7. Figure out what you will tell your Fortune Brands Home & Security wcoworkers - create your go-to statement and practice it, so you can say it without becoming too emotional. It will be normal for friends and acquaintances to ask, and we assume you won't want to burst into tears or lash out every time the question is popped. However horrible you feel, it's crucial to remain calm and act professional, and try to avoid doing anything that might hinder your reputation or integrity. Remember to stay professional on social media when discussing Fortune Brands Home & Security.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Fortune Brands Home & Security offers its employees both a pension plan and a 401(k) plan under the broader Fortune Brands Home & Security Retirement Savings Plan. This plan is a Defined Contribution Plan, allowing employees to participate in either a 401(k) or Profit-Sharing Plan. Fortune Brands Home & Security employees have access to a 401(k) Plan, where employee contributions are matched by the company at varying rates, depending on the employee's position and years of service (QDRO.com) (SimpleQDRO). The company offers automatic enrollment in the 401(k) plan, where employees are enrolled at a contribution rate of 3% of their salary. The contribution rate can increase by 1% annually until it reaches 6%, unless the employee opts out (SEC.gov). Additionally, Fortune Brands provides Profit-Sharing Contributions, which vary depending on the company division, and employees are vested in these contributions after three years of service. Employees who meet specific requirements, such as 10 years of service and attaining age 55, become fully vested in their 401(k) and profit-sharing accounts (SEC.gov). The vesting schedules for the pension and 401(k) plans depend on the employee’s years of service. Most employees achieve full vesting after three years of service, but for employees of divisions like Rohl and Fiberon, the vesting timeline can extend up to five years

News: In early 2024, Fortune Brands Home & Security announced a significant restructuring initiative aimed at streamlining operations and enhancing efficiency. The company revealed plans to reduce its workforce by approximately 5% as part of this strategic shift. Additionally, Fortune Brands is re-evaluating its employee benefits package, including potential changes to retirement plan offerings and adjustments to health benefits. Explanation: Given the current economic environment, where companies are reassessing their financial stability and operational efficiency, this news is crucial. Changes in employment and benefits could impact employees' financial planning, particularly in terms of retirement savings and healthcare costs. Understanding these adjustments is essential due to the broader economic and tax landscape, which could affect investment strategies and personal financial decisions.

Stock Options: FBHS provided stock options to key executives and senior management as part of their long-term incentive program. This was aimed at aligning the interests of executives with those of shareholders. RSUs: RSUs were granted to employees based on performance metrics and tenure. These units vest over a period of time, typically 3-4 years, contingent on continued employment and performance.

health benefits for Fortune Brands Home & Security. This will take some time to ensure accuracy and comprehensiveness. I’ll provide a summary once I have the details. In the meantime, if you have any specific aspects of their health benefits or recent employee healthcare news you're particularly interested in, please let me know!