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

Why Howmet Aerospace Employees Should Consider These Top Retirement Locations for Affordability and Ideal Weather

Healthcare Provider Update: Healthcare Provider for Howmet Aerospace Howmet Aerospace employees typically access healthcare services through a variety of insurance plans facilitated by their employer. Currently, major providers for companies like Howmet may include plans from national insurers such as UnitedHealthcare, Anthem (Elevance Health), and Cigna, although specific details may vary based on location and plan offerings. Potential Healthcare Cost Increases in 2026 As we approach 2026, Howmet Aerospace employees, like many others across the nation, face significant concerns about rising healthcare costs. Health insurance premiums, particularly for Affordable Care Act (ACA) marketplace plans, are projected to surge, with some states expecting hikes exceeding 60%. This rise is attributed to higher medical costs, the expiration of enhanced federal premium subsidies, and aggressive rate increases from insurers, potentially leading to out-of-pocket premium costs that could soar by 75% for many policyholders. For Howmet employees, these changes could mean a drastic adjustment in their healthcare budgeting as they navigate an increasingly challenging insurance landscape. Click here to learn more

'Howmet Aerospace employees nearing retirement should consider cities like Cary, North Carolina, that balance affordable living, great weather, and top-tier healthcare, as these factors are essential in ensuring a financially comfortable and healthy retirement.' – Wesley Boudreaux, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Retirees from Howmet Aerospace companies should prioritize locations that offer both cost-effective living and excellent healthcare, such as Cary, North Carolina, ensuring a fulfilling and stable retirement experience.' – Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

The best affordable cities for retirement, with a focus on Cary, North Carolina.
How weather and cost of living are key factors for Howmet Aerospace employees planning their retirement.
The importance of healthcare access in choosing a retirement destination.

Combining great weather with affordability, Cary, North Carolina, has emerged as one of the top spots for Howmet Aerospace employees planning their retirement. Located just nine miles west of Raleigh, this charming city offers retirees a year-round climate with temperatures between 32°F and 89°F. With an average monthly cost of living of $3,615, Cary provides an excellent balance of affordable housing and beautiful weather—two key considerations for Howmet Aerospace employees looking to make the most of their retirement years.

Cary's exceptional quality of life is reflected in its impressive livability score of 90 out of 100. The city offers a community that supports retirees, with 12% of its population being over 65, according to GoBankingRates. The temperature is generally mild, though seasonal fluctuations are expected, with the hottest months being late May through early October. Despite some fluctuations, Cary's facilities, low crime rate, and healthcare services all earned favorable ratings, even though its cost of living score on AreaVibes was slightly lower.

Cary is not the only city with the perfect mix of affordability and great weather for retirement. For example, Metairie, Louisiana, scored 84 out of 100 on the livability scale. This city boasts a reasonably low cost of living, a mild climate, and a hint of Southern charm. For Howmet Aerospace retirees seeking relief from the hotter Southern U.S., Perry Hall, Maryland, is an excellent option due to its consistently milder temperatures.

With its reasonably priced housing and dry, sunny climate, Laughlin, Nevada, offers the lowest anticipated monthly cost of living on the list for retirees who are considering the desert lifestyle. In contrast, Oro Valley, Arizona, located in the heart of the Sonoran Desert, is particularly attractive to retirees, with more than one-third of its population being 65 or older. The area's year-round, outdoor-friendly temperatures further enhance its appeal.

Although Florida remains a popular retirement destination, the living costs in cities like Miami and Orlando can surpass $60,000 annually. High real estate prices and increasing property taxes might deter some retirees from making the move. For those still drawn to Florida's warm climate, alternatives like Perry Hall and Metairie offer similar weather conditions but at a more affordable cost of living.

GoBankingRates compiled a detailed list of affordable and appealing retirement destinations in 2024 by evaluating cities on several criteria, including rent, weather, cost of living, and overall desirability. At the top of the list is Cary, North Carolina, with its active retiree community and temperate climate. Laughlin, Nevada, and Oro Valley, Arizona, also stand out as great retirement options, showcasing that there are plenty of affordable places to retire while still enjoying a comfortable and pleasant lifestyle.

When planning retirement, Howmet Aerospace employees must strike a balance between living costs and a healthy, active environment. Whether in Cary or another well-regarded location, retirement planning should factor in both lifestyle preferences and financial considerations to help create a fulfilling retirement experience.

In addition to affordability and pleasant weather, healthcare access plays a critical role in selecting a retirement location. Cary, North Carolina, stands out for its top-notch healthcare offerings, including facilities like WakeMed Cary Hospital. U.S. News & World Report (March 2024) named Cary as a top choice for retirees who value both financial stability and healthcare quality, making it an ideal place for Howmet Aerospace employees nearing retirement.

If you're looking for an affordable and desirable retirement destination, Cary, North Carolina, with its 90/100 livability score, is one of the best cities for retirees. Offering a mild climate, affordable living costs, and excellent healthcare services, it's a standout location. Other affordable places with favorable weather for retirement include Metairie, Louisiana, and Oro Valley, Arizona. Discover why these cities are gaining popularity due to their appealing combination of amenities, climate, and affordability.

Choosing the right retirement destination is much like selecting the perfect vacation spot: it should offer the amenities you desire, such as great weather, reasonable prices, and convenient access to the services you need. Like a year-round vacation, cities like Cary, North Carolina, and Metairie, Louisiana, provide a perfect mix of relaxation, adventure, and practicality, allowing Howmet Aerospace retirees to enjoy both financial comfort and peace of mind. These locations promise a long-term 'staycation' with affordable living, pleasant weather, and excellent healthcare throughout the year.

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Sources:

1. GoBankingRates. “12 Surprisingly Affordable Cities With Great Weather for Retirees.” GoBankingRates , October 2024, pp. 1-2.

2. U.S. News & World Report. “The 2 Best Independent Living Communities in Cary, NC.” U.S. News & World Report , March 2025, pp. 1-3.

3. Investopedia. “Why Arizona Could Be the Perfect Retirement Destination for You.” Investopedia , May 2025, pp. 1-2.

4. CarePatrol. “Beyond Cost: A Different Perspective on Choosing a Retirement Location.” CarePatrol , April 2025, pp. 1-2.

5. Nasdaq. “Retirement Relocation: Choosing the Perfect Place to Call Home.” Nasdaq , April 2025, pp. 1-2.

How can Howmet Corporation employees ensure that they are maximizing their pension benefits under the Howmet Salaried Employees Pension Plan? Are there specific contributions or actions that could enhance their benefits over the years of their employment with Howmet Corporation?

Maximizing Pension Benefits: To maximize their pension benefits, Howmet Corporation employees should focus on accumulating years of service and ensuring they meet the eligibility criteria for the highest percentage of compensation credits under the pension plan. Employees should review their benefit statements regularly, especially considering how age and years of service affect their pension accrual. Consulting financial advisors or using Howmet's retirement planning tools can also aid in making strategic decisions about retirement timing and additional personal savings to complement their pension(Howmet Corporation_July…).

In what situations might employees at Howmet Corporation find themselves ineligible for pension plan benefits? What steps should they take, if they suspect they fall into such categories, to clarify their eligibility status?

Ineligibility for Pension Benefits: Employees at Howmet Corporation might be ineligible for pension benefits if they are not classified as salaried employees hired before January 1, 2002, or if they leave the company before accruing sufficient vesting service (three years or more). If employees believe they fall into a category of ineligibility, they should contact the plan administrator or consult HR to clarify their status, especially regarding vesting service(Howmet Corporation_July…).

Given the complexities of the Howmet Corporation Pension Plan, what resources are available for employees to understand their pension calculation, and how can they access such resources through Howmet Corporation?

Understanding Pension Calculation: Employees can access resources like the Your Benefits Resources (YBR) platform or call 1-888-ALCOA123 for assistance in calculating their pension benefits. These tools offer detailed projections and estimates based on individual account balances, years of service, and compensation, allowing employees to plan for retirement effectively(Howmet Corporation_July…).

With the elder workforce approaching retirement, how does the Howmet Corporation Pension Plan accommodate early retirees, and what factors should employees consider when deciding the optimal time to retire?

Early Retirement Considerations: The Howmet Corporation Pension Plan allows early retirement starting at age 55, with a reduced benefit. Employees should weigh the impact of reduced payments against their financial needs and Social Security options. Additionally, delaying retirement can increase benefits significantly. Employees should use the available calculators and consult financial advisors to determine the optimal retirement age(Howmet Corporation_July…).

What are the specific implications of the Internal Revenue Service (IRS) limitations for Howmet Corporation employeesâ€™ pension benefits, and how might these changes affect future retirement planning?

IRS Limitations and Future Planning: IRS limitations affect pension benefits by capping the maximum benefit amount that can be received, which for defined benefit plans is subject to annual adjustments. Employees nearing high compensation levels should consider how these caps might limit their pension payouts and integrate personal savings strategies, such as 401(k)s or IRAs, into their overall retirement plan(Howmet Corporation_July…).

How does the Howmet Corporation Pension Plan protect employees' rights under ERISA, and what recourse exists for employees who believe their rights have been violated during the pension application process?

ERISA Protections: The Howmet Corporation Pension Plan is governed by the Employee Retirement Income Security Act (ERISA), ensuring that employees' rights are protected. If employees believe their rights have been violated during the pension application process, they can file a claim with the Benefits Management Committee and, if necessary, pursue an appeal or legal recourse under ERISA(Howmet Corporation_July…).

For Howmet Corporation employees planning their estates, how essential is it to name beneficiaries in the pension plan, and what process should they follow to ensure that their beneficiaries are correctly registered?

Naming Beneficiaries: It is essential for Howmet Corporation employees to name beneficiaries for their pension plan, especially to ensure that survivor benefits are properly allocated. Employees can update beneficiary information through the YBR platform or by submitting the appropriate forms to HR. Spousal consent is required if designating a non-spouse beneficiary(Howmet Corporation_July…).

Howmet Corporation employees often have questions regarding survivor benefits. What provisions does the Howmet Pension Plan have in place for surviving spouses, and how do these benefits differ based on the employee's marital status at retirement?

Survivor Benefits: The Howmet Pension Plan offers survivor benefits, which provide ongoing payments to a spouse or designated beneficiary. For married employees, the default option is a joint and survivor annuity, which ensures a percentage of benefits continues for the surviving spouse. Single employees can designate other beneficiaries, but should review their options carefully to ensure proper coverage(Howmet Corporation_July…).

What are the essential milestones employees of Howmet Corporation should be aware of regarding vesting service under the pension plan, and how does this vesting impact their eventual payout?

Vesting Milestones: Employees become vested in the Howmet Pension Plan after completing three years of service or reaching age 65. Once vested, employees have a right to receive pension benefits even if they leave the company before retirement age. Knowing these milestones helps ensure employees fully benefit from their time at Howmet(Howmet Corporation_July…).

If Howmet Corporation employees have further questions regarding their benefits as detailed in the document, what steps should they take to contact the plan administrator, and what information will they need to provide for personalized assistance?

Contacting the Plan Administrator: Employees with further questions about their pension benefits should contact the plan administrator through the YBR website or by calling 1-888-ALCOA123. Employees will need their Social Security number, date of birth, and user ID to access personalized assistance(Howmet Corporation_July…).

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

Pension Plan Information: Name of Pension Plan: Howmet Aerospace Pension Plan Years of Service and Age Qualification: Employees typically need to have a minimum of 5 years of service to qualify for the pension plan. The plan is available to employees who are 21 years old or older. Pension Formula: The pension benefit is calculated based on a formula that considers years of service and average salary during the highest-paid years. Specifics can vary, so it’s best to refer to the plan document for precise details. 401k Plan Information: Name of 401k Plan: Howmet Aerospace 401(k) Plan Qualifications: Employees are eligible to participate in the 401(k) plan immediately upon hire. The plan includes company matching contributions based on employee contributions. Details of the Plan: The Howmet Aerospace 401(k) Plan offers a range of investment options, and employees can contribute up to the maximum limit set by the IRS.

Restructuring and Layoffs: In early 2024, Howmet Aerospace announced a restructuring plan aimed at improving operational efficiency. This plan included layoffs impacting approximately 2% of their workforce. The restructuring is part of their broader strategy to streamline operations and enhance profitability in a challenging economic environment. The importance of addressing this news lies in its impact on employees and the company's operational effectiveness amid current economic uncertainties.

Howmet Aerospace provides stock options and RSUs to eligible employees as part of their compensation package. For 2022, 2023, and 2024, the company offers these benefits to key employees, executives, and directors. Specific plans and eligibility criteria are outlined in their annual reports and proxy statements.

Healthcare Terms/Acronyms: HSA (Health Savings Account): Offers tax-advantaged savings for healthcare expenses. FSA (Flexible Spending Account): Allows employees to set aside pre-tax income for eligible expenses. HDHP (High Deductible Health Plan): A health plan with lower premiums and higher deductibles. Health Benefits Overview: Howmet Aerospace provides comprehensive health insurance options including medical, dental, and vision coverage. They offer both HSA and FSA options, alongside a range of wellness programs. Additional benefits include employee assistance programs and telemedicine services.