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

Creating Peace of Mind Through Family Planning Conversations at Arconic

Healthcare Provider Update: Healthcare Provider for Arconic Arconic, a leading provider of aluminum and aerospace products, collaborates with various insurance companies to offer healthcare benefits to its employees. The primary healthcare providers that partner with Arconic vary by location and include well-known insurers like UnitedHealthcare, Aetna, and Blue Cross Blue Shield, among others. Healthcare Cost Increases in 2026 In 2026, healthcare costs are expected to rise significantly, impacting employers and employees alike, including those at Arconic. The projected average increase in health benefit costs could reach nearly 8.5%, attributed to a perfect storm of higher medical expenses and the potential expiration of enhanced federal premium subsidies from the Affordable Care Act (ACA). Many employers are responding by considering changes to plan designs that shift more costs to employees. This could lead to out-of-pocket premium increases that may exceed 75% for a large portion of the workforce, making it critical for companies like Arconic to strategize their healthcare offerings effectively to mitigate financial impacts on their employees. Click here to learn more

“Arconic employees who foster open-ended family dialogues and co-create a shared vision around their estate plans can replace lingering uncertainty with genuine confidence—and for personalized guidance, consult a legal, financial, or tax advisor” – Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement.

“By inviting open, curiosity-driven discussions around estate planning, Arconic employees can transform documents into a living blueprint for family unity. Yet, for tailored advice, it’s best to consult a legal, financial, or tax advisor” – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article we will discuss:

The role of meaningful, informed conversations in finding genuine peace of mind.
Three intentional steps to engage Arconic families in collaborative estate planning.
Practical strategies for aligning legal documents with family values and long-term goals.

Arthur has made financial services his life’s work, thoughtfully preparing for every aspect of his family’s future. He's provided his wife Estelle and their three adult children with contact information for his lawyer, Sam, who works closely with Arthur’s financial advisor. Whenever the subject of estate planning arises, Arthur calmly reassures them, “You honestly have nothing to worry about—just call Sam.” While well-intentioned, this approach overlooks a key truth: real peace of mind comes not from handing over a name, but from meaningful, informed conversations—something that may resonate deeply with many Arconic employees and their families.

Insights from the Generations Project's℠ Later-in-Life Conversations Study, conducted by the Fidelity Center for Family Engagement, reveal that peace of mind is among the top two goals in later-life planning discussions for baby boomers, Gen Xers, and millennials. ¹ Despite this, it remains one of the least addressed subjects. A surprising 66% of parents admit they are hesitant to discuss this with their children. ¹ When family members lack clarity, uncertainty—and anxiety—can quickly grow.

Notably, peace of mind appears to stem from open dialogue about long-term goals, setting clear expectations, and providing family members with easy access to trusted information. This includes decisions about beneficiary designations, executors, health care proxies, wills, trusts, and dependent care insurance. Without such clarity, family members may experience what Dr. Timothy Habbershon of the Fidelity Center for Family Engagement calls “wondering anxiety”—uncertainty about long-term financial needs, health incidents, or how estate plans may affect them.

Dr. Habbershon contrasts this with the clarity gained from openness and thoughtful conversation. Transparency is the remedy to the discomfort caused by unasked questions. By speaking candidly and exchanging ideas, families—Arconic employees included—can replace lingering anxieties with productive dialogue rooted in trust and understanding.

Those who realize that documents alone are insufficient should take one step further: encouraging active participation. To foster true peace of mind and deeper family bonds, consider these three intentional steps:

1. Ask What Questions Family Members May Have

Effective planning begins with curiosity. Instead of explaining or defending existing plans, start by listening. Arthur could begin the conversation with Estelle and their children by asking:

- “What part of our planning feels unclear to you?”

- “How does our current approach impact your sense of comfort?”

- “What else would you want to know to feel more confident about our future?”

By resisting the urge to justify decisions, Arthur uncovers the uncertainties behind their concerns. Posing follow-up questions like “Can you expand on that?” or “What would make this clearer for you?” invites deeper dialogue and mutual respect.

2. Invite Input on the Planning Process

For Wealth Enhancement advisor Michael Corgiat, a guiding principle is to enroll adult children in the planning process now, when you can have informed discussions. Too often, even well-meaning planners take a “we know what’s best” approach. By clarifying your intentions in advance, and in your own words, you can help strengthen connections—something Arconic families may find especially valuable.

Arthur might ask:

- “How does this process feel from your perspective?”

- “Do you feel you’ve had enough input?”

- “What changes might help you feel more included?”

These questions focus less on legal language and more on collaborative engagement. Giving family members a role in the process builds confidence and reduces anxiety around future changes.

3. Co-Create a Vision for Later Life

Planning is not just about future legal steps—it’s about present-day relationships. Encouraging family members to think together about how they want to spend time, support one another, and adapt to change brings emotional and practical priorities into alignment for Arconic households.

Arthur might ask:

- “What shared experiences should we prioritize in the coming year?”

- “Which conversations or activities would feel most meaningful?”

- “How should we navigate shifts in care, housing, and health needs?”

These discussions allow families to align financial and legal tools with their personal values. By bringing everyone into the conversation, Arthur reinforces not only clarity, but also family unity.

Bringing It All Together

Estate planning documents are important, but they’re only part of the story. The conversations that surround them create the true emotional foundation for peace of mind. Families that engage in open, participatory planning are more likely to feel greater confidence and less uncertainty about the future. In contrast, the 66% of parents who shy away from these conversations risk leaving loved ones confused and concerned.

Arconic employees can take three practical steps to shift from good intentions to meaningful family engagement:

1. Use curiosity-driven, open-ended questions to draw out concerns.

2. Seek feedback about the process, not just the outcomes.

3. Build a shared vision that blends daily life with legal planning.

This inclusive approach helps transform vague concerns into actionable clarity. Discussions about wills, trusts, proxies, and beneficiaries become shared efforts, illuminating financial, legal, and emotional priorities. The result is an environment of mutual trust, support, and understanding—a space where true peace of mind can grow.

According to Fidelity’s State of Wealth Mobility study, 56% of adults never had discussions about money management with their parents, yet among families that do, two-thirds actively engage in estate and retirement planning—with a significant boost in confidence as a result. ²

Just as an orchestra needs each musician to understand their role, estate plans resonate most when everyone involved hears the same tune, contributes their part, and works in harmony to carry forward a shared vision.

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Sources:

1. Fidelity Center for Family Engagement. ' The Generations Project ^SM : Findings from the Later-in-Life Conversations Study .' 2024.

2. Fidelity Investments. “ Americans Ready to Break the Cycle of Avoiding Family Discussions on Finances ,” 19 Nov. 2024.

Other Resources:

1. Barron's. “ Northern Trust Reveals ‘Secrets of Enterprising Families’ ,” by Abby Schultz. 9 April 2024.

2. Investopedia. “ How to Have 'The Talk' With Your Parents: The Financial Discussion You Can't Avoid Forever ,' by Lucy Lazarony. 7 July 2025.

3. Kiplinger. “ Six Ways to Make Talking With Family About Estate Planning Easier ,” by Jacob Wolinsky. 9 Apr. 2025.

What retirement benefits and options are available to employees of Arconic Corporation under the Arconic Corp. Pension Plan A, and how do these benefits change based on factors such as age, service length, and retirement category? Employees of Arconic Corporation should understand their eligibility requirements for normal retirement, early retirement, and disability benefits as outlined in the company's pension plan documentation.

The Arconic Corp. Pension Plan A provides retirement benefits based on a formula that considers average earnings and service length, with normal retirement eligibility at age 65 and at least five years of service. Early retirement is available at age 55 with 10 years of service, with benefits reduced based on actuarial assumptions. Disability benefits are available after 10 years of service, and preretirement death benefits offer 50% of accrued benefits to surviving spouses(Arconic Corporation_ Ja…).

How does the frozen state of benefits and service accruals impact current and future retirees at Arconic Corporation? Employees should evaluate how the freeze, effective April 1, 2018, affects their retirement planning and what measures they can take based on their individual circumstances to optimize their retirement benefits.

The frozen state of benefits and service accruals, effective April 1, 2018, means no new service credits or compensation increases are factored into pension calculations for current employees. This freeze affects retirement planning as employees must now rely on frozen benefits and other savings plans to meet retirement needs. It’s important for employees to reassess their financial goals and consider additional investments to optimize retirement benefits(Arconic Corporation_ Ja…).

In what ways can Arconic Corporation employees ensure they meet the requirements for spousal benefits outlined in the pension plan, especially regarding preretirement and postretirement scenarios? Understanding the specifics of eligibility and benefits, such as the surviving spouse benefit calculations, is crucial for employees planning for retirement.

To ensure eligibility for spousal benefits, employees need to meet certain requirements. Preretirement surviving spouse benefits require at least five years of service, and postretirement spousal benefits reduce the participant’s monthly benefit by 5%, with 50% of the reduced amount paid to the spouse if the participant dies first. Employees should understand these provisions to plan for their family’s financial security in retirement(Arconic Corporation_ Ja…).

What are the implications of the actuarial assumptions used by Arconic Corporation in valuing its pension obligations, and how do these assumptions affect the funding of the retirement plan? Arconic Corporation employees should examine how changes in interest rates and mortality tables influence the company's ability to meet its pension obligations.

Actuarial assumptions used in Arconic Corp.’s pension valuations, such as interest rates and mortality tables, directly impact the funding of retirement plans. Changes in these assumptions can affect the pension plan’s obligations and the amount of required contributions, making it important for employees to understand how these factors influence the stability and sufficiency of their retirement benefits(Arconic Corporation_ Ja…).

Can you explain the process by which Arconic Corporation employees can appeal decisions related to their pension benefits, and what support does the company provide during this process? Understanding the proper channels for appeals and the types of documentation required can be vital for employees facing issues with their pension benefits.

Employees can appeal pension benefit decisions through Arconic Corporation’s formal process, which includes submitting an appeal with supporting documentation. The company provides guidelines on what documentation is required, and employees should follow these closely to ensure their case is reviewed thoroughly. The support provided can include detailed responses to clarify benefit calculations and decisions(Arconic Corporation_ Ja…).

What resources are available to Arconic Corporation employees to help them make informed decisions about their retirement benefits, and how can they access these resources efficiently? Employees should know where to find comprehensive materials and support services concerning their retirement plans.

Arconic Corporation offers various resources to assist employees in making informed decisions about their retirement benefits. Employees can access comprehensive plan documents, financial planning tools, and counseling services through the company’s HR department and retirement plan administrators to ensure they fully understand their options(Arconic Corporation_ Ja…).

How does the Arconic Corporation define "average earnings" for calculating retirement benefits, and what methodologies are in place to ensure accuracy in these calculations? Understanding the basis for average earnings will allow employees to better project their pension benefits and prepare for retirement.

Average earnings, used in calculating retirement benefits, are defined as the average of the five highest consecutive calendar years of compensation within the last ten years for most participants. For certain participants, different rules apply based on service and plan conditions. Employees can review their earnings history to ensure accurate calculations and projections for retirement planning(Arconic Corporation_ Ja…).

What criteria does Arconic Corporation use to determine eligibility for deferred vested benefits, and how can employees maximize their advantages in this area? Employees need to be aware of the vesting schedule and how to plan for potential career transitions while maintaining their benefits.

Eligibility for deferred vested benefits in Arconic Corporation’s plan requires five years of service, and benefits can commence as early as age 55, with reductions based on actuarial calculations. Employees should plan career transitions carefully to maximize their vested benefits, especially when considering leaving the company before retirement(Arconic Corporation_ Ja…).

How can Arconic Corporation employees prepare for the potential tax implications of their pension benefits upon retirement, especially in light of IRS regulations for 2024? Being informed about tax strategies related to retirement income can significantly enhance retirees' financial wellbeing.

Employees preparing for retirement should understand the tax implications of pension benefits, particularly in light of IRS regulations for 2024. Strategies such as tax deferral and proper timing of distributions can help minimize the tax burden on retirement income, significantly enhancing financial outcomes(Arconic Corporation_ Ja…).

What contact methods does Arconic Corporation provide for employees wishing to learn more about their pension plan details, and how can employees best utilize these methods to get their queries resolved? Understanding the effective ways to communicate with the company for assistance is key for employees navigating their retirement benefits.

Arconic Corporation provides multiple contact methods for pension-related inquiries, including direct access to HR representatives and pension plan administrators. Employees are encouraged to utilize these resources effectively by preparing questions in advance and keeping detailed records of their communications for follow-up and clarity(Arconic Corporation_ Ja…).

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

Arconic has announced a major restructuring plan that includes significant layoffs across its North American facilities. The restructuring is aimed at streamlining operations and reducing costs amid ongoing economic uncertainties. Additionally, Arconic is revising its pension and 401(k) benefits in response to shifting market conditions and regulatory changes.