Healthcare Provider Update: Healthcare Provider for Primoris Services: Primoris Services offers health insurance benefits through various insurance carriers, which may include larger providers like UnitedHealthcare, Cigna, and Anthem, among others. The specific provider may vary by location and the plan selected by employees. Healthcare Cost Increases in 2026: As Primoris Services looks ahead to 2026, employees should brace for significant healthcare cost increases. With the potential expiration of enhanced federal premium subsidies, many are anticipated to face a staggering rise in out-of-pocket expenses, with some states estimating hikes of over 60% in healthcare premiums. Employers, reacting to these financial pressures, are likely to adjust benefit structures, shifting more costs onto employees. This upcoming year may fundamentally challenge healthcare affordability for many households, making it essential for employees to review their healthcare options and strategies carefully. Click here to learn more
Preparing for retirement at Primoris Services 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 Primoris Services 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 Primoris Services. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Primoris Services retirement accounts stand today? Being proactive with your Primoris Services 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 401(k) plan offered by Primoris Services?
The 401(k) plan at Primoris Services is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.
How can I enroll in the Primoris Services 401(k) plan?
Employees can enroll in the Primoris Services 401(k) plan by completing the online enrollment process through the company’s benefits portal during the enrollment period.
Does Primoris Services offer matching contributions to the 401(k) plan?
Yes, Primoris Services offers matching contributions to the 401(k) plan, which helps employees grow their retirement savings.
What is the maximum contribution limit for the Primoris Services 401(k) plan?
The maximum contribution limit for the Primoris Services 401(k) plan follows the IRS guidelines, which can change annually. Employees should check the current limits for accuracy.
Can I change my contribution percentage to the Primoris Services 401(k) plan?
Yes, employees can change their contribution percentage to the Primoris Services 401(k) plan at any time through the benefits portal.
What investment options are available in the Primoris Services 401(k) plan?
The Primoris Services 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles suitable for retirement savings.
When can I start withdrawing funds from my Primoris Services 401(k) plan?
Employees can start withdrawing funds from their Primoris Services 401(k) plan upon reaching the age of 59½, subject to certain conditions.
Are there any penalties for early withdrawal from the Primoris Services 401(k) plan?
Yes, there are typically penalties for early withdrawal from the Primoris Services 401(k) plan, including a 10% penalty tax on amounts withdrawn before age 59½.
How often can I change my investment allocations in the Primoris Services 401(k) plan?
Employees can change their investment allocations in the Primoris Services 401(k) plan as frequently as allowed by the plan, typically on a daily basis.
Does Primoris Services provide financial education regarding the 401(k) plan?
Yes, Primoris Services offers financial education resources and workshops to help employees understand their 401(k) plan and make informed investment decisions.