Healthcare Provider Update: Alight Solutions is partnered with various healthcare providers to support its employee benefits initiatives, with national insurers such as UnitedHealthcare and Cigna frequently featured in their offerings. Alight focuses on delivering customized health plans that cater to the diverse needs of its workforce while emphasizing cost-efficiency and quality of care. As we look ahead to 2026, Alight employees should brace for notable increases in healthcare costs. With projections indicating premiums for Affordable Care Act (ACA) plans could surge by as much as 66% in some states, the impact will be significant. Additionally, the anticipated expiration of enhanced federal subsidies could exacerbate out-of-pocket expenses, with many households potentially facing a chilling 75% rise in monthly premiums. Amidst this landscape, it is crucial for employees to carefully review benefit changes and explore strategies to manage increasing healthcare expenses effectively. Click here to learn more
A recent Fidelity Investments poll illuminates new trends in the ever-changing retirement planning landscape. Notably, 66% of respondents envision a phased-in approach to retirement, which deviates from the conventional full-stop strategy. This choice shows a shift towards flexible retirement solutions across generations, as evidenced by the significant interest shown by both Gen Zers and millennials.
The wide-ranging implications of this trend point to the necessity of flexibility in retirement advice and planning when preparing to retire from Alight. The departure from traditional retirement models highlights a more comprehensive reassessment of retirement goals and work-life balance, reflecting shifting perspectives toward the end of your Alight career. Advisors who want to fulfill their Alight clients' complex needs must have a thorough understanding of these preferences as retirement planning continues to change.
A growing number of retirees who desire social connection and intellectual stimulation in addition to financial security are adopting the idea of 'Work for Pleasure' in phased retirement, a viable option for Alight employees.
According to an American Psychological Association study, continuing to work after retirement can enhance mental well-being, increase life satisfaction, and facilitate the transition to complete retirement. Retirement is now seen as a new chapter with opportunity for learning, growth, and contribution rather than as an end. This is especially true for seasoned professionals from high-ranking roles.
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Retirement is becoming less and less like the unexpected curtain call at the end of a play and more like a well planned art display. Similar to how an exhibition progressively moves from one theme and era to another, providing visitors with an extensive array of experiences, the modern retirement trip, as defined by Fidelity Investments, takes place in stages. With this method, people can combine the elegant brushstrokes of their personal passions and hobbies with their professional creations. Today's retirees and soon-to-be retirees find joy and fulfillment in doing work that pleases them, much like an artist who paints for the love of art even after their formal career has concluded. This is creating a retirement experience that is as nuanced and fulfilling as a well-curated gallery.
What is the primary purpose of Alight's 401(k) Savings Plan?
The primary purpose of Alight's 401(k) Savings Plan is to help employees save for retirement through tax-advantaged contributions.
How can Alight employees enroll in the 401(k) Savings Plan?
Alight employees can enroll in the 401(k) Savings Plan through the company’s HR portal or by contacting the benefits department for assistance.
Does Alight provide a matching contribution to the 401(k) Savings Plan?
Yes, Alight offers a matching contribution to the 401(k) Savings Plan to encourage employees to save for their retirement.
What types of investment options are available in Alight's 401(k) Savings Plan?
Alight's 401(k) Savings Plan includes a variety of investment options, such as mutual funds, target-date funds, and stable value funds.
Can Alight employees change their contribution percentage to the 401(k) Savings Plan?
Yes, Alight employees can change their contribution percentage at any time by accessing their account online or contacting HR.
What is the minimum age requirement to participate in Alight's 401(k) Savings Plan?
The minimum age requirement to participate in Alight's 401(k) Savings Plan is typically 21 years old.
Are there any fees associated with Alight's 401(k) Savings Plan?
Yes, Alight's 401(k) Savings Plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.
How often can Alight employees make changes to their investment allocations in the 401(k) Savings Plan?
Alight employees can typically make changes to their investment allocations in the 401(k) Savings Plan on a quarterly basis or as specified in the plan guidelines.
What happens to Alight employees' 401(k) Savings Plan when they leave the company?
When Alight employees leave the company, they can choose to roll over their 401(k) savings into an IRA or a new employer's plan, or they may cash out their account, subject to taxes and penalties.
Is there a loan option available within Alight's 401(k) Savings Plan?
Yes, Alight's 401(k) Savings Plan may offer a loan option, allowing employees to borrow against their savings under certain conditions.