Healthcare Provider Update: Healthcare Provider for BrightView Holdings: BrightView Holdings offers its employees access to healthcare solutions through various insurers participating in the Affordable Care Act (ACA) marketplace. As employees explore their options for 2026, a variety of plans will be available that align with their individual healthcare needs. Potential Healthcare Cost Increases in 2026: In 2026, BrightView Holdings employees may face substantial increases in healthcare costs, primarily due to anticipated surges in ACA marketplace premiums. With some insurers indicating rate hikes of over 60%, many employees could see their out-of-pocket expenses dramatically rise, particularly if the enhanced federal subsidies expire. The combination of elevated medical costs, corporate shifts towards cost-sharing, and changes in plan structures may further strain budgets, making it crucial for employees to proactively review benefit options ahead of the new year. Understanding these dynamics can help employees navigate potential challenges in maintaining affordable healthcare access. Click here to learn more
This paper is for BrightView Holdings employees who will have to know the basics of their 401(k) plans, including the role of the company's contributions and the way the assets are invested in order to understand the basics of the retirement planning process.'
'['Free' means that, as a BrightView Holdings employee, you can optimize your retirement savings and, thus, your future financial independence by frequently checking and changing your 401(k) contributions, as well as by consulting for a Roth 401(k)].
In this article, we will discuss:
1. How to increase your chances of retirement savings by taking advantage of employer contributions.
2. What are the conditions under which you own the company contributions? Do not miss the money! A simple guide to the basics of stock investing within your 401(k) plan.
3. It is not intended to be an exhaustive treatment of the subject, but rather a general introduction that will help you understand the basics and consider whether or not to participate.
In a time of increasing financial complexity, it is essential to know how to make the most out of your savings, especially when you are planning for your retirement. The 401k plan has been and will be one of the best ways to build wealth over the long term. However, as with any instrument, its effectiveness depends on the user’s understanding of its capabilities and potential risks.
Harnessing Matching Contributions:
Most of the BrightView Holdings companies provide for matching schemes under which they pay for a certain percentage of the amount an employee places into a 401k. On average, companies match 4.5% of employee contributions, as per Vanguard’s annual report. Although this percentage may not be very high, it can amount to a lot of money over the years. When you include the interest that is charged on the account, this can make for a good retirement portfolio.
Vesting Requirements - Patience Pays:
Vesting refers to the conditions under which an employee is entitled to the company contributions to a 401(k) plan. Two main types are:
Cliff Vesting: Contributions are fully vested at the end of the set period, which is usually three years.
Graded Vesting: The employer’s contributions become vested at 20% annually from the second year and at 100% by the end of the sixth year.
Thus, if you change jobs before your contributions become vested, you will deny yourself access to the money. So, it is important to know your company’s vesting policy.
The Risk of Company Stock:
While it may be tempting to invest in your company’s stock, it’s wise to limit such investments to 5-10% of your total 401(k) assets. This is because too much money is at risk in the event the company is not doing well.
The Dual-Edge of Stock Investments:
Equities, or stocks, shouldn’t be avoided entirely. Although they are risky, very conservative products may not perform well versus inflation, and, thus, reduce your buying power in the future. This is where balanced equity investments come in to help with this.
Sources:
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1. Internal Revenue Service (IRS). 'Matching Contributions Help You Save More for Retirement.' IRS, https://www.irs.gov/retirement-plans/matching-contributions-help-you-save-more-for-retirement . Accessed 17 Feb. 2025.
2. Internal Revenue Service (IRS). 'Retirement Topics - Vesting.' IRS, https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-vesting . Accessed 17 Feb. 2025.
3. Empower. 'What is 401(k) Matching & How Does It Work?' Empower, https://www.empower.com/the-currency/work/how-does-401k-matching-work . Accessed 17 Feb. 2025.
4 Investopedia. '401(k) Vesting Rules.' Investopedia, https://www.investopedia.com/401-k-vesting-rules-5323652 . Accessed 17 Feb. 2025.
5. National Council on Aging (NCOA). 'Leverage Employer Matching Contributions to Your 401(k).' NCOA, https://www.ncoa.org/article/matching-contributions-101-how-to-maximize-your-retirement-savings-now . Accessed 17 Feb. 2025.
What type of retirement plan does BrightView Holdings offer to its employees?
BrightView Holdings offers a 401(k) retirement savings plan to its employees.
How can employees of BrightView Holdings enroll in the 401(k) plan?
Employees of BrightView Holdings can enroll in the 401(k) plan by completing the online enrollment process through the company’s benefits portal.
Does BrightView Holdings match employee contributions to the 401(k) plan?
Yes, BrightView Holdings provides a matching contribution to the 401(k) plan, subject to certain limits.
What is the maximum employee contribution percentage allowed in the BrightView Holdings 401(k) plan?
Employees of BrightView Holdings can contribute up to 100% of their eligible compensation, subject to the IRS annual contribution limit.
When can employees of BrightView Holdings start contributing to the 401(k) plan?
Employees of BrightView Holdings can start contributing to the 401(k) plan after they have completed their eligibility requirements, typically after 30 days of employment.
Are there any fees associated with the BrightView Holdings 401(k) plan?
Yes, there may be administrative and investment fees associated with the BrightView Holdings 401(k) plan, which will be disclosed in the plan documents.
Can employees of BrightView Holdings take loans against their 401(k) savings?
Yes, the BrightView Holdings 401(k) plan allows employees to take loans against their savings, subject to specific terms and conditions.
What investment options are available in the BrightView Holdings 401(k) plan?
The BrightView Holdings 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can employees change their investment choices in the BrightView Holdings 401(k) plan?
Employees of BrightView Holdings can change their investment choices at any time through the plan's online portal.
What happens to the 401(k) savings if an employee leaves BrightView Holdings?
If an employee leaves BrightView Holdings, they have several options for their 401(k) savings, including rolling over to an IRA or a new employer's plan.