Ball Corporation Employees & RMDs: What You Need to Know Before Age 73
Healthcare Provider Update: Healthcare Provider for Ball Corporation
Ball Corporation's healthcare coverage is primarily provided through Aetna, a well-established insurer known for a range of healthcare plans tailored to meet the diverse needs of employees.
Brief Overview of Potential Healthcare Cost Increases in 2026
As we look ahead to 2026, Ball Corporation employees should prepare for significant healthcare cost increases, with many anticipating premium hikes of over 60% in some states. This alarming trend is largely attributed to rising medical expenses, the potential expiration of enhanced federal premium subsidies, and aggressive actions from major insurers. Without congressional intervention to extend these vital subsidies, more than 22 million individuals could face an average increase of 75% in out-of-pocket costs, straining budgets and limiting access to essential healthcare services. It's crucial for employees to proactively plan for these developments to mitigate financial impacts in the coming year.
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'Ball Corporation employees can stay ahead of required minimum distributions by planning early and thoughtfully coordinating withdrawals with their broader retirement income goals.' — Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.
'Ball Corporation employees can benefit from understanding RMD rules early so they can thoughtfully incorporate withdrawals into a long-term income plan that fits their personal goals and timing.' — Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.
In this article, we will discuss:
When and how required minimum distributions (RMDs) must be taken.
Which retirement accounts are subject to RMD rules.
Strategies to thoughtfully use RMD withdrawals in retirement.
Under IRS rules, required minimum distributions (RMDs) begin at age 73 for those born between 1951 and 1959. Under these rules, you must take out a specific amount of money annually from tax-deferred retirement plans, such as IRAs, 401(k)s, and 403(b)s, once you turn 73. Answers to common questions are provided below to help you move forward confidently.
What is a required minimum distribution (RMD)?
A required minimum distribution (RMD) is a set amount of money that the IRS mandates you withdraw each year from your tax-deferred retirement accounts beginning at age 73, including accounts you may have contributed to while working for Ball Corporation.
When do I have to take my RMD?
Every year on December 31, your RMD must be taken. You can wait until April 1 of the year after your 73rd birthday to take your first RMD—but only your first. Delaying may result in taking two RMDs in the same year, which could increase your taxable income.
If I keep working, do I still need to take an RMD?
If you continue working past age 73 and remain in an employer-sponsored plan with your current employer, you may be able to delay RMDs from that account if:
- You are still actively employed
- You own no more than 5% of the company
- The employer plan permits delayed RMDs
This applies only to the plan with your current employer—not to IRAs or plans from former employers.
How is my RMD calculated?
Your RMD is generally calculated by dividing your retirement account balance as of December 31 of the previous year by a life-expectancy factor published by the IRS. The IRS Uniform Lifetime Table is typically used unless a spouse more than 10 years younger is the sole beneficiary.
What can I do with my RMD once I take it?
It helps to think through your options before withdrawing your RMD. For example, Ball Corporation professionals may:
Invest it: Place funds into a taxable investment account or contribute to a 529 plan (if eligible)
Spend it: Apply funds to retirement lifestyle needs
Gift it: Use a Qualified Charitable Distribution (QCD) directly from an IRA, which can satisfy RMD rules starting at age 70½ and is excluded from taxable income. For 2025, QCDs may reach up to
$108,000 per person
1
Which accounts require RMDs?
RMDs generally apply to:
- Most 401(k) and 403(b) plans
- Traditional, rollover, SIMPLE, and SEP IRAs
- Certain small business retirement accounts
Roth accounts in workplace plans—like a Roth 401(k)—do not require RMDs for the original owner starting in 2024. Beneficiaries of inherited Roth accounts may still need to withdraw funds.
What if I inherit an IRA?
Many general RMD rules still apply to inherited accounts. Your required withdrawal schedule depends on your relationship to the original account owner and applicable IRS inheritance rules.
Can I take all my RMDs from one account?
It depends on the account type:
IRAs: Can be aggregated and withdrawn from one or multiple IRA accounts
403(b)s: May be aggregated but calculated separately
401(k)s: Must be calculated
and
withdrawn from each account individually—including any Ball Corporation balance still held
Extra withdrawals do not count toward future years’ RMDs.
Are RMDs taxed?
Yes. RMDs are taxed as ordinary income and may be subject to both federal and state income taxes. Taking two RMDs in one year, often caused by delaying the first, can increase your taxable income.
Need help creating your RMD strategy?
Understanding RMDs can influence how you structure your retirement income—especially for Ball Corporation employees shifting from workplace plans to personal withdrawal strategies. The Retirement Group can help you build an approach that aligns with your situation. Call us at
(800) 900-5867
to get started.
5. Myers, Elizabeth A.
Required Minimum Distribution (RMD) Rules for Original Owners of Retirement Accounts.
Congressional Research Service, 29 Aug. 2024,
www.congress.gov/crs-product/IF12750
.
What type of retirement plan does Ball Corporation offer to its employees?
Ball Corporation offers a 401(k) Savings Plan to its employees to help them save for retirement.
How does Ball Corporation match employee contributions to the 401(k) plan?
Ball Corporation provides a matching contribution to employee 401(k) contributions, typically matching a percentage of what employees contribute up to a certain limit.
Can employees at Ball Corporation choose how their 401(k) contributions are invested?
Yes, employees at Ball Corporation can choose from a variety of investment options for their 401(k) contributions, allowing them to tailor their investment strategy.
What is the eligibility requirement for Ball Corporation employees to participate in the 401(k) plan?
Most employees at Ball Corporation are eligible to participate in the 401(k) plan after completing a specified period of service, typically within their first year of employment.
Does Ball Corporation offer any educational resources for employees to learn about the 401(k) plan?
Yes, Ball Corporation provides educational resources and tools to help employees understand their 401(k) options and make informed investment decisions.
What is the maximum contribution limit for employees participating in Ball Corporation’s 401(k) plan?
The maximum contribution limit for employees in Ball Corporation’s 401(k) plan is set by the IRS and may change annually; employees should check the latest limits for the current year.
Are there any fees associated with Ball Corporation's 401(k) plan?
Yes, Ball Corporation's 401(k) plan may have certain administrative fees, which are disclosed in the plan documents provided to employees.
Can employees take loans against their 401(k) savings at Ball Corporation?
Yes, Ball Corporation allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What happens to employees' 401(k) savings if they leave Ball Corporation?
If employees leave Ball Corporation, they can roll over their 401(k) savings into another retirement account, cash out, or leave the funds in the Ball Corporation plan, depending on the plan’s rules.
Does Ball Corporation allow for after-tax contributions to the 401(k) plan?
Yes, Ball Corporation may allow for after-tax contributions to the 401(k) plan, enabling employees to save additional funds for retirement.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Ball Corporation offers a defined benefit pension plan called the Ball Corporation Pension Plan. Employees become eligible after one year and vested after five years of service. The plan calculates benefits based on final average salary and years of service. Ball’s 401(k) plan, known as the Ball Corporation 401(k) Savings Plan, matches employee contributions up to 4% when contributing 5% or more. Immediate 100% vesting is provided for all contributions. [Source: Ball Benefits Overview, 2022, p. 12]
Ball Corporation transferred its pension liabilities to Prudential Annuity to manage costs and streamline administration. The company reported strong financial results for Q1 2024 and continues to offer competitive benefits including a 401(k) plan with company match and additional contributions. Understanding these benefits is vital given the current tax and political landscape.
Ball Corporation provides stock options and RSUs as part of its compensation packages. Stock options allow employees to purchase shares at a set price post-vesting, while RSUs are awarded with vesting conditions such as tenure or performance. In 2022, Ball Corporation enhanced its equity programs with performance-based RSUs. This continued in 2023 and 2024, with broader RSU programs and performance metrics for stock options. Executives and middle management are the main recipients, ensuring alignment with long-term company goals. [Source: Ball Corporation Financial Results 2022-2024, p. 58]
Ball Corporation’s 2022 healthcare updates included improved mental health support and expanded telehealth services. The company introduced additional wellness programs and preventive care options by 2023. For 2024, Ball Corporation focused on maintaining comprehensive health coverage and integrating innovative solutions. The strategy aimed to support overall employee well-being with digital health tools and comprehensive care options. Ball Corporation’s approach reflected a commitment to addressing evolving employee needs and enhancing benefits. The updates were designed to improve employee satisfaction and health management.
For more information you can reach the plan administrator for Ball Corporation at 100 north riverside Chicago, IL 60606; or by calling them at 1-312-544-2000.
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