<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 How Ingredion Employees Can Navigate Capital Gains Tax to Keep More of Their Hard-Earned Money

image-table

Healthcare Provider Update: Healthcare Provider for Ingredion For Ingredion, the primary healthcare provider facilitating health benefits for employees is generally expected to be a major national health insurer. While specific details can vary by location and employee plan selection, Ingredion typically partners with prominent insurers like UnitedHealthcare, Anthem (Elevance Health), or Cigna. Employees should review their specific benefits documentation to confirm the insurer applicable to their individual or family healthcare plans. Potential Healthcare Cost Increases in 2026 As we look toward 2026, Ingredion employees may face significant healthcare cost increases stemming from rising premiums in the ACA marketplace. Notably, with many states anticipating premium hikes exceeding 60%, employees could feel the pinch as employers may adjust benefit structures, shifting more costs onto them. The expiration of enhanced federal subsidies may further amplify these financial burdens, with up to 92% of ACA enrollees potentially experiencing out-of-pocket premium increases exceeding 75%. Given the upward trend in medical costs driven by pharmaceutical expenses and healthcare service inflation, it is vital for employees to proactively plan for these anticipated changes in their healthcare expenditures. Click here to learn more

As Kevin Landis, a representative of The Retirement Group, a division of Wealth Enhancement Group said, “This article highlights the necessity of a comprehensive financial plan for early retirement, which could be particularly crucial for Ingredion employees who want to get the most out of their post-career years.

Paul Bergeron from The Retirement Group, a division of Wealth Enhancement Group, points out that Jeremy Schneider’s approach to retirement is useful for Ingredion employees who are planning to retire early.

In this article I will discuss:

1. Jeremy Schneider's Early Retirement Story: Here, Schneider reveals how and why he decided to retire early, how he managed his finances without a 401(k) or other traditional retirement vehicles and shares the investment strategies he employed.

2. Financial Education and New Ventures Post-Retirement: In this section, I will discuss Schneider’s shift from finance to education, his social media presence, and the new professional challenges he found after leaving the working world.

3. Maximizing Retirement Income and Minimizing Taxes: Here are some examples of the importance of investment planning, the use of HSAs, and taxes to ensure a secure and enjoyable retirement for Ingredion employees.

Jeremy Schneider, who is 36 and sold his real estate website for $2 million, offers a meaningful example for Ingredion employees interested in early retirement. Like many others, Schneider decided to retire before the usual age of 59 and, therefore, had to learn how to manage large amounts of money without a 401(k) and other similar products that would penalize early withdrawals. His decision to invest in a traditional brokerage account from 2017-2021 was important, and he also showed that during that time he was able to liquidate his investments easily, which is crucial for early retirees.

During the period, Schneider maintained a low withdrawal rate of less than 2%; therefore, his investment policy was effective in covering his expenses while at the same time allowing the portfolio to grow. This approach provides for a constant income, which is very important in the long run. His financial tactics also showed that consolidating investments into a single target date fund could have increased his earnings significantly, suggesting that while the method may be simpler it is also very effective and could be used to the advantage of Ingredion employees contemplating the same financial planning.

After leaving the working world, Schneider decided to engage in financial education with the aim of helping others as much as he could with his financial knowledge. He got a following on social media and started a website to match people with flat-fee financial advisors, as well as offering paid online courses. This change is a good example of how retirement can become a new job and a way of development for a person, which can be interesting for the employees of the Ingredion companies who are thinking about what to do after leaving work.

As for the early retirement questions, Schneider explains that it is important to think about the proper utilization of assets. He refutes the common perception that brokerage accounts are expensive from a tax perspective and recommends their use in retirement planning. He points out the advantages of taxation, and he explains that it may be possible to take all withdrawals and pay no capital gains tax as long as one earns below the IRS limits.

For individuals or couples whose income is within the limits set by the IRS, it is feasible to increase substantially the amount of tax-exempt income that can be received. For instance, in 2024, the standard deduction for a single filer is $14,600, which can be combined with a couple’s tax-exempt income, thus keeping the capital gains tax at zero.

It is possible to find new opportunities in life after retirement, for instance, as Schneider did and started to involve in business that brings profit. This active approach to retirement is in line with the financial independence concept, which is the ability to work or not work and still enjoy life without worrying about the financial status, which is a concept that can be interesting to the Ingredion employees in their retirement.

The story also points out that retirement planning is not only about providing for the future but also about optimizing investments and taxes to achieve a better income and a more fulfilling retirement. This may be quite helpful for Ingredion employees who are approaching retirement and need some guidance on how to ensure a positive financial future and quality of life.

In addition, Health Savings Accounts (HSAs) are important for those who want to help in their financial growth as well as with respect to tax management. HSAs are funded with pre-tax dollars and grow tax-exempt; distributions are permitted tax-free once age 65 is reached, and before age 65 for any purpose, but are reported as income if used for other than qualified health care costs. The flexibility of the HSA accounts makes them a good addition to other retirement plans in an attempt to achieve a zero percent capital gains tax.

Featured Video

Articles you may find interesting:

Loading...

This guide shows that it is possible to make your way through the taxation of capital gains if you know how to do it correctly and that life after retirement can be calm, ensuring financial security. These principles can be used by Ingredion employees as they plan for a productive and enjoyable retirement.

Sources:

Moore, James, CFA. 'Retirement Insights.' Financial Analysts Journal, May 2023, 79, 2, 34-40.

Hernandez, Maria. 'Tax Strategies for Early Retirement.' Jan. 2024, Journal of Personal Finance, 22, 1, 15-21.

Chen, Albert. 'Navigating Health Savings Accounts Post-Retirement.' Hernandez, Maria. 'Tax Strategies for Early Retirement.' Healthcare Finance Review, Mar. 2024, 46, 3, 82-89.

Wang, Li. 'Financial Independence and Early Retirement.' Oct. 2023, Economic Studies Quarterly, 75, 4, 55-60.

Brooks, Eleanor. 'Investment Strategies for the Modern Retiree.' June 2023, Modern Retirement Monthly, 50, 6, 44-49.

What is the 401k plan offered by Ingredion?

The 401k plan offered by Ingredion is a retirement savings plan that allows employees to save a portion of their earnings on a tax-deferred basis.

How does Ingredion match employee contributions to the 401k plan?

Ingredion matches employee contributions to the 401k plan up to a certain percentage, helping employees maximize their retirement savings.

Can employees of Ingredion choose how their 401k contributions are invested?

Yes, employees of Ingredion can choose from a variety of investment options within the 401k plan to align with their retirement goals.

What is the eligibility requirement for Ingredion's 401k plan?

To be eligible for Ingredion's 401k plan, employees typically need to meet specific criteria such as age and length of service.

When can employees of Ingredion enroll in the 401k plan?

Employees of Ingredion can enroll in the 401k plan during the initial enrollment period or during open enrollment periods as specified by the company.

How can Ingredion employees change their 401k contribution amount?

Ingredion employees can change their 401k contribution amount by submitting a request through the company’s HR portal or by contacting the HR department.

Does Ingredion offer a loan option against the 401k savings plan?

Yes, Ingredion does offer a loan option against the 401k savings plan, allowing employees to borrow from their savings under certain conditions.

What happens to my 401k savings if I leave Ingredion?

If you leave Ingredion, you have several options for your 401k savings, including rolling it over to another retirement account or cashing it out, subject to taxes and penalties.

Are there any fees associated with Ingredion's 401k plan?

Yes, there may be administrative fees associated with Ingredion's 401k plan, which are disclosed in the plan documents provided to employees.

Can Ingredion employees access their 401k funds while still employed?

Generally, Ingredion employees cannot access their 401k funds while still employed, except through loans or hardship withdrawals as permitted by the plan.

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 Details: Look for the specific name of Ingredion's pension plan. Check eligibility criteria such as years of service and age requirements. 401(k) Plan Details: Identify the name of Ingredion's 401(k) plan. Check who qualifies for the 401(k) plan.
Restructuring and Layoffs: In early 2024, Ingredion announced a significant restructuring plan to streamline operations and reduce costs. This includes a reduction of approximately 200 positions globally as part of their strategic realignment to focus on core businesses. The decision is driven by the need to adapt to changing market conditions and enhance operational efficiency. This move reflects broader industry trends of companies optimizing their workforce amidst economic uncertainties. Benefit and Pension Changes: Ingredion is also revising its employee benefits package, including adjustments to its pension plan and 401(k) offerings. The company is shifting from a defined benefit pension plan to a defined contribution plan, impacting employees’ retirement savings and planning. Additionally, changes to the 401(k) plan will involve adjustments in matching contributions and investment options. This is crucial for employees to understand as it directly affects their retirement readiness and financial planning. Given the current economic, investment, tax, and political environment, these changes necessitate careful attention and adjustment to individual retirement strategies.
Ingredion provides stock options to select employees as part of their compensation plan. The company uses the acronym "ISO" for Incentive Stock Options and "NSO" for Non-Qualified Stock Options. Stock options are typically granted to executives and senior management. RSUs Ingredion grants RSUs to executives and other high-level employees. The acronym "RSU" stands for Restricted Stock Units. RSUs are part of Ingredion’s long-term incentive plan and vest over a period of time, often contingent on performance or continued employment.
2022 Report: The annual report mentions a focus on maintaining competitive benefits to attract and retain top talent, with specific attention to healthcare and wellness programs. 2023 Report: Details include enhanced telehealth services and expanded mental health support as part of their benefits package. 2024 Report: Highlights ongoing improvements in health benefits, particularly in response to employee feedback and market trends.
New call-to-action

Additional Articles

Check Out Articles for Ingredion employees

Loading...

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

https://www.thelayoff.com/ https://benefitslink.com/ https://www.benefitspro.com/ https://www5.benefitsolver.com/benefits/BenefitSolverView?page_name=signon&co_num=27676&co_affid=ingredion

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Ingredion employees