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

Empowering Women at Brunswick: 4 Essential Retirement Strategies to Consider

Healthcare Provider Update: Healthcare Provider for Brunswick: Brunswick Corporation, a well-known manufacturer in the marine and recreational products industry, provides healthcare benefits through its corporate plan in partnership with major insurance providers, including UnitedHealthcare and Blue Cross Blue Shield. Employees typically have access to a variety of coverage options tailored to meet their individual needs. Potential Healthcare Cost Increases in 2026: As Brunswick employees prepare for 2026, they should brace for significant healthcare cost increases resulting from anticipated surges in ACA marketplace premiums. With reports indicating some states may experience hikes exceeding 60%, the landscape of health insurance is shifting dramatically. The potential expiration of enhanced federal premium subsidies is poised to exacerbate the situation, with studies showing that up to 92% of marketplace enrollees could face out-of-pocket premium hikes of over 75%. This combination of factors indicates that Brunswick employees may need to reevaluate their healthcare strategies to manage and mitigate these impending financial impacts effectively. Click here to learn more

Preparing for retirement at Brunswick can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. Research shows that 31% of women are currently or have been caregivers during their careers. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 30% less to their retirement accounts than men.

These numbers may seem overwhelming, but you don’t have to be a statistic. With a little foresight, you can start taking steps now, which may help you in the long run. Here are three steps to consider that may put Brunswick employees ahead of the curve.

Talk about money. Nowadays, discussing money is less taboo than it’s been in the past, and it’s crucial to take control of your financial future. If you’re single, consider writing down your retirement goals and keeping them readily accessible. If you have a partner, make sure you are both on the same page regarding your retirement goals. The more comfortably you can talk about your future, the more confident you may be to make important decisions when they come up.
Be proactive about your retirement after Brunswick. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Brunswick retirement accounts stand today? Being proactive with your Brunswick retirement accounts allows you to create a goal-oriented roadmap. It may also help to adapt when necessary and continue their journey regardless of things like relationship status or market fluctuations.

Make room for your future in your budget. Adjust your budget to allow for retirement savings, just as you would for a new home or your dream vacation. Like any of your other financial goals, you may find it beneficial to review your retirement goals on a regular basis to make sure you’re on track.

Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.

Transamerica.com, 2021

GAO.gov, 2021

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What is the primary purpose of Brunswick's 401(k) Savings Plan?

The primary purpose of Brunswick's 401(k) Savings Plan is to help employees save for retirement by providing a tax-advantaged way to contribute a portion of their salary.

Does Brunswick match employee contributions to the 401(k) Savings Plan?

Yes, Brunswick offers a matching contribution to the 401(k) Savings Plan, which helps employees maximize their retirement savings.

How can employees enroll in Brunswick's 401(k) Savings Plan?

Employees can enroll in Brunswick's 401(k) Savings Plan by completing the enrollment process through the company’s benefits portal or by contacting the HR department for assistance.

What are the eligibility requirements for Brunswick's 401(k) Savings Plan?

Employees are generally eligible to participate in Brunswick's 401(k) Savings Plan after completing a specified period of service, as outlined in the plan documents.

What types of investment options are available in Brunswick's 401(k) Savings Plan?

Brunswick's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Can employees change their contribution percentage to Brunswick's 401(k) Savings Plan?

Yes, employees can change their contribution percentage to Brunswick's 401(k) Savings Plan at any time, subject to the plan's guidelines.

What is the vesting schedule for employer contributions in Brunswick's 401(k) Savings Plan?

The vesting schedule for employer contributions in Brunswick's 401(k) Savings Plan varies based on the length of service, as detailed in the plan documents.

How often can employees access their account statements for Brunswick's 401(k) Savings Plan?

Employees can access their account statements for Brunswick's 401(k) Savings Plan online, typically on a quarterly basis, or they can request them at any time.

Are loans available through Brunswick's 401(k) Savings Plan?

Yes, Brunswick's 401(k) Savings Plan may allow employees to take loans against their vested account balance, subject to certain conditions and limits.

What happens to an employee's 401(k) Savings Plan account if they leave Brunswick?

If an employee leaves Brunswick, they can choose to roll over their 401(k) Savings Plan account to another retirement account, cash out, or leave the funds in the plan, depending on the plan's rules.

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

Brunswick has announced a significant restructuring plan, including a reduction in workforce by 10% to streamline operations and reduce costs. The company is also making changes to its pension plan, shifting from a defined benefit plan to a defined contribution plan.

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For more information you can reach the plan administrator for Brunswick at 26125 North Riverwoods Boulevard Mettawa, IL 60045; or by calling them at +1 847-735-4700.