<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=314834185700910&amp;ev=PageView&amp;noscript=1">

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

Learn More

Discover the Best Countries for Greif Retirees: Top Global Destinations for Your Next Adventure

image-table

Healthcare Provider Update: Healthcare Provider for Greif Greif, Inc. does not seem to have publicly disclosed a single primary healthcare provider; rather, they typically offer a range of health insurance options to their employees through various insurers, depending on the specific locations and participation in regional healthcare plans. Companies like Greif often partner with large insurers such as UnitedHealthcare, Anthem, and Cigna to provide their employees with comprehensive health benefits. Healthcare Cost Increases in 2026 As healthcare costs are projected to rise significantly in 2026, Greif could face challenges in managing employee health benefits amid anticipated record increases in ACA premiums. Estimates suggest that without congressional action to extend enhanced subsidies, premiums could soar by over 75% for many enrollees, potentially impacting a majority of their workforce. This surge is largely attributed to rising medical costs and major insurers' rate hikes, which could compel organizations like Greif to reassess their health benefits strategy, balancing financial sustainability with the well-being of their employees. Strategically navigating these changes will be crucial for maintaining competitive health coverage in a challenging market. Click here to learn more

Evaluating Global Retirement Index (GRI): The Top Places for Retirement

As the year unfolds, the Global Retirement Index (GRI) by the esteemed investment bank Natixis provides invaluable insights into potential retirement destinations for Greif retirees. Examining 44 countries, the GRI accounts for pivotal factors such as health, post-retirement financial security, quality of life, and overall well-being during the golden years. Each country is subsequently rated on a scale, with the apex being 100 points.

To better inform decisions, let's delve deeper into the top five nations according to the GRI:

1. Norway:  Leading the list, Norway scored 81% on the GRI, reclaiming its top position after a brief stint in third place for four years. Although it has seen a dip from its 87% in 2012, Norway's commendable consistency across all four subindices, especially finance, is noteworthy. The country leaped from 25th to eighth place, attributed to its shift to a positive five-year interest rate average. Additionally, advances in life expectancy and insured health expenditure are also worth highlighting. Even though there was a slight surge in unemployment, Norway's robust healthcare infrastructure lends it a sturdy foundation.

2. Switzerland:  With a score of 80%, Switzerland took the second spot, showing a marginal decline from 81% in the preceding year. The most significant decrease emanated from its material well-being metrics, particularly in income equality and unemployment. However, it continues to have the fourth-highest income per capita. The finance sub-index may have seen a slight dip, but Switzerland’s scores in environmental and happiness factors, as well as health expenditure per capita indicators, showcased improvement.

3. Iceland:  Iceland, having achieved the pinnacle in 2021, witnessed a significant drop to 79%, placing it third. The primary determinants for this decline were in its financial and material well-being metrics. A significant contributor to the dip was the upswing in government indebtedness. Yet, it still achieved second place in income equality and boasted commendable scores in environmental and happiness metrics.

4. Ireland:  Consistently at fourth place, Ireland recorded a GRI score of 76%, marking a minor drop from 78% the previous year. The decline primarily stemmed from its finances and material well-being. While there was a surge in unemployment and income equality metrics, Ireland still boasts the third-highest income per capita globally. The nation also secured remarkable placements in the happiness and health indices, propelled by its air quality and environmental initiatives, and advancements in health expenditure.

5. Australia:  Completing the top five, Australia posted a score of 75%, a slight decrease from 76% in 2021. The downtrend, akin to other countries, is mainly attributed to its financial and material well-being indices. However, there was a discernible decline in its quality of life metrics. Australia's achievements in income per capita and unemployment metrics were offset by a diminished income equality score. Yet, the nation boasts some of the most impressive air quality metrics, albeit with a minimal uptick in environmental initiatives. The strength of its healthcare infrastructure, with life expectancy being a predominant factor, has solidified its place in the top five.

The United States' Position:

A pivotal inquiry remains – where does the U.S. stand? The nation has settled at the 18th position, descending to 69% from 71% in 2021. The primary contributors to this placement are unemployment and income equality metrics. While the U.S. secured the sixth-highest income per capita, this was overshadowed by its subpar performance in income equality. Factors like government indebtedness, old-age dependency, and tax pressures further dragged the U.S. down the list. On a positive note, the nation saw an uplift in its life expectancy metrics for 2022, with the highest score in health expenditure per capita and the fourth-highest in insured health expenditure globally. This implies that while there is a decline in finance and material well-being, quality of life, encapsulating healthcare, environmental, and happiness factors, is showing signs of amelioration.

According to the World Health Organization's Global Age-friendly Cities Guide published in 2007, the environment plays a crucial role in determining the health and well-being of older individuals. The infrastructure, services, and community connections in a country can significantly influence retirees' quality of life. For Greif professionals considering retirement, it's essential to evaluate not just a nation's ranking on indices but also its compatibility with age-friendly infrastructures. This includes ease of transportation, accessible healthcare facilities, and opportunities for social engagement, ensuring a fruitful and active retirement.

Articles you may find interesting:

Loading...

In conclusion, while each country has its strengths and areas of improvement, this index serves as a guide for Greif employees considering their retirement options. With a holistic understanding of each nation’s standing, Greif employees are better equipped to make informed decisions for their future.

Selecting a country to retire in is much like choosing the perfect wine for a connoisseur's collection. Norway is the vintage Bordeaux - consistently exquisite with a history of rich offerings. Switzerland and Iceland are akin to fine Chardonnays, providing elegance and a hint of robust adventure. Ireland resembles a well-aged Cabernet, deep in tradition yet with layers of modern vibrancy. Australia, with its sunny disposition, can be likened to a crisp Sauvignon Blanc. Meanwhile, the U.S., though a popular choice like a classic Pinot Noir, doesn't quite make it to the top shelf in this year's selection. Choose wisely for the perfect Greif retirement toast.

What is the primary purpose of Greif's 401(k) Savings Plan?

The primary purpose of Greif's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a tax-deferred basis.

How can I enroll in Greif's 401(k) Savings Plan?

You can enroll in Greif's 401(k) Savings Plan by completing the enrollment process through the company’s benefits portal or by contacting the HR department for assistance.

What types of contributions can I make to Greif's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and possibly catch-up contributions if they are age 50 or older in Greif's 401(k) Savings Plan.

Does Greif offer any matching contributions to the 401(k) Savings Plan?

Yes, Greif offers a matching contribution to the 401(k) Savings Plan, which is designed to encourage employees to save for retirement.

What is the vesting schedule for Greif's matching contributions?

The vesting schedule for Greif's matching contributions typically follows a graded schedule, meaning employees earn ownership of the contributions over a period of time.

Can I take a loan against my 401(k) Savings Plan with Greif?

Yes, Greif allows participants to take loans against their 401(k) Savings Plan balance, subject to certain terms and conditions outlined in the plan documents.

What investment options are available in Greif's 401(k) Savings Plan?

Greif's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and possibly company stock, allowing employees to diversify their portfolios.

How often can I change my contribution amount to Greif's 401(k) Savings Plan?

Employees can typically change their contribution amount to Greif's 401(k) Savings Plan at any time, subject to the plan’s rules and limitations.

When can I access my funds from Greif's 401(k) Savings Plan?

Employees can access their funds from Greif's 401(k) Savings Plan upon reaching retirement age, or in cases of hardship, termination of employment, or other qualifying events.

Does Greif provide financial education regarding the 401(k) Savings Plan?

Yes, Greif provides resources and educational materials to help employees understand their 401(k) Savings Plan options and make informed investment decisions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Greif offers a 401(k) retirement plan for its employees, known as the Greif 401(k) Retirement Plan. This plan allows employees to contribute a portion of their paychecks into the 401(k), with pre-tax contributions providing tax deferral benefits. Employees are eligible to participate immediately upon meeting the plan's requirements. The Greif 401(k) Retirement Plan is designed to help employees accumulate savings over time, leveraging investment options available under the plan. Greif also provides a pension plan, called the Greif Pension Plan. This defined benefit plan calculates retirement benefits based on years of service and a pension formula that factors in final average pay. Employees typically qualify for this plan after meeting a certain age and years of service criteria, though the specifics vary depending on the individual employee’s situation. The plan's structure provides a guaranteed income upon retirement.
Restructuring and Layoffs: In 2023, Greif announced a restructuring plan aimed at improving operational efficiency. This plan involved streamlining various business units and resulted in a significant reduction in the workforce. The company cited the need to adapt to changing market conditions and optimize its cost structure as key reasons behind this decision. The impact of these changes is significant due to the current economic environment, which emphasizes the importance of companies enhancing their operational efficiency to remain competitive and sustainable. Additionally, such restructuring moves can affect employee morale and job security, highlighting the importance of staying informed about these developments.
Greif offers a variety of stock options and Restricted Stock Units (RSUs) as part of its employee compensation program. Through the Colleague Stock Purchase Plan (CSPP), Greif employees can purchase stock at a discounted rate compared to market prices. This aligns employees' interests with shareholders, encouraging long-term value creation. The program allows participants to elect a percentage of their salary towards stock purchases, with a cap of $25,000 annually in purchases​ (Greif Investor)​ (Greif Investor). The RSU plan awards eligible employees a set number of units that convert to shares upon vesting, typically over a few years. In 2023, Greif expanded its CSPP to all U.S.-based employees​ (Greif)​ (Greif Investor), further enhancing participation. Both stock options and RSUs are aimed at providing a financial incentive to improve performance and foster employee retention. Greif's stock options and RSUs are available primarily to full-time employees, and eligibility may vary based on employment level and tenure
Greif Health Benefits Information 1. Official Greif Website 2022 Benefits Overview: Greif provides comprehensive health benefits including medical, dental, and vision insurance. Employees have access to a variety of plan options through Greif’s health benefits portal. 2023 Benefits Overview: The company introduced new wellness programs and expanded mental health support. They emphasize preventive care and offer telemedicine services. 2024 Benefits Overview: Greif continued to enhance benefits with increased coverage options and integrated health management services. Specific details on premium changes or new plan options might be available in their annual benefits guide. 2. Indeed General Health Benefits: Reviews suggest that Greif offers competitive health benefits, including healthcare insurance, wellness programs, and employee assistance programs. Employees appreciate the comprehensive nature of the benefits package. Recent Changes: Some reviews mention adjustments in co-payments and deductibles, reflecting the company’s effort to manage rising healthcare costs. 3. Glassdoor Employee Feedback: Employees report positive experiences with Greif’s health benefits, noting the inclusivity of coverage and support for work-life balance. Recent Updates: Recent updates include enhanced mental health resources and more flexible spending account options. 4. LinkedIn Benefits Information: LinkedIn’s job postings and employee reviews often highlight Greif’s health benefits, including health insurance, wellness initiatives, and preventive care programs. Recent Developments: The focus has shifted towards providing more personalized health management tools and resources. 5. HR Websites (e.g., SHRM) Benefits Details: Greif’s health benefits are described as comprehensive, including various health insurance plans, wellness programs, and support for mental health. Recent News: There are updates about Greif’s efforts to improve employee health and well-being through new programs and partnerships with healthcare providers.
New call-to-action

Additional Articles

Check Out Articles for Greif employees

Loading...

For more information you can reach the plan administrator for Greif at , ; or by calling them at .

https://www.thelayoff.com/ https://finance.yahoo.com/ https://www.bloomberg.com/asia

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Greif employees