Ernst & Young Guide to Seamless Retirement Planning

Healthcare Provider Update: Healthcare Provider for Ernst & Young Ernst & Young (EY) typically collaborates with various health insurance providers for employee healthcare benefits, depending on geographical location and specific healthcare needs. Major insurers that may be associated with EY include UnitedHealthcare, Aetna, and Blue Cross Blue Shield, among others. The specific provider may vary based on individual employee requirements and the location of the business unit. Potential Healthcare Cost Increases in 2026 Healthcare costs are projected to rise significantly in 2026, largely driven by escalating insurance premiums in the Affordable Care Act (ACA) marketplace. Recent analyses indicate that some states may see premium hikes exceeding 60%, as major insurers cite rising medical costs and the potential lapse of enhanced federal subsidies as key contributors. Without these subsidies, over 22 million enrollees could face out-of-pocket premium increases of upwards of 75%, creating a challenging financial landscape for many consumers as they navigate their healthcare expenses. Click here to learn more

For Ernst & Young employees, having a defined financial plan and reviewing investment strategies is critical to long-term success - and working with a trusted advisor like myself at The Retirement Group can help you stay on course.

'I represent The Retirement Group and recommend Ernst & Young employees review their retirement contributions and tax strategies annually to prepare for expected and unexpected financial milestones,' said Sullivan.

In this article we will discuss:

1. Wealth management for Ernst & Young employees - goal setting, tax planning and investment reviews.

2. Monthly financial actions & milestones like tax payments, retirement contributions and estate planning adjustments.

3. Strategic retirement planning - using benefits, managing Required Minimum Distributions (RMDs), and Qualified Charitable Distributions (QCDs).

Wealth management takes planning and constant attention. The following document is a month by month guide to financial management using proven economic methods to cover all of your financial life.

January: Setting Wealth Goals for the Ernst & Young.

Ernst & Young employees are encouraged at the start of the year to set financial goals. Obligations need to be defined - reducing debt, perfecting your estate plan or getting ready for early retirement. Writing them down and making a detailed plan increases the chances of them coming true.

Tax Considerations: In January, submit the last estimated tax payment for the previous year to the IRS for earnings between September 1 and December 31.

Quarterly Investment Review: Quarterly reviews - These are great for checking how investments are doing and if they are performing against your overall strategy. Strategic reviews from firms like Motley Fool Wealth Management may help (source).

February: Getting Tax Documents Ready for Ernst & Young Employees.

By January 31, employers must issue tax documents like W-2s and 1099s. Gather all supporting documents for tax filing in February so they can be submitted by the April deadline.Contribute to a Spousal IRA to build retirement savings for a non-working spouse. This method plans for your household's future in one financial plan.

March: Addressing Lifestyle Creep

As income increases, so does the temptation to spend more. A share of these gains could help strengthen retirement funds and limit wasteful spending.Review your contribution to 401(k)s and other retirement accounts. Catch-up contributions for those over 50 help build reserves more efficiently.

March 31 - Tax Freedom Day for Ernst & Young Employees.

The average American must work on Tax Freedom Day to complete their annual taxes. This date illustrates how planning can reduce taxes.

Continuing Retirement Contributions: If contribution limits for the previous year were not met, the deadline extended to April 15 allows additional contributions.

Filing and Payments: File any remaining taxes on time and consider an extension if more time is needed.

May: Evaluating Education Expenses

Check out the benefits of a 529 Plan contribution in light of new updates under SECURE Act 2.0 which expands its applications (source).

June: Planning Estimated Tax Payments.

Make the second estimated tax payment for the year for income from January 1 through March 31. Timely payments help with compliance.

July: Enhancing Estate Planning

Apply Transfer on Death (TOD) registrations to brokerage accounts to simplify asset distribution and administrative burden for your beneficiaries.

August: Reviewing Beneficiaries

Update estate plans and beneficiary designations as circumstances or family structures change.

September: Financial Preparedness

This National Preparedness Month encourages review of emergency funds and insurance coverage. Preparedness may be the key to handling unexpected situations.

October: Medicare Enrollment & RMD Planning.

You can adjust coverage during open Medicare enrollment. Start preparations early for RMD to avoid end-of-year rushes.

November: Reviewing Employment Benefits

Change health savings accounts and retirement contributions during open enrollment. Those decisions can bolster tax advantages while meeting longer-term objectives.

December: Reviewing Year-End Finances

Analyze investment income for tax impacts such as IRMAA surcharges on Medicare premiums (source). This prevents surprises come tax season.

Supporting Your Financial Journey

Get organized with tools like NerdWallet's budget planner (source) or Wealth Analytics' financial checklist (source).Its monthly financial calendar outlines steps to plan and review your financial journey. Applying these strategies may increase confidence in financial management.

QCDs—Qualified Charitable Distributions

Ernst & Young people age 70 1/2 or older can direct up to USD 100,000 annually from their IRA to a qualified charity that meets RMD requirements without increasing taxable income and may reduce Medicare premiums or tax liabilities.

Articles you may find interesting:

Sources:

1. Warren Street Wealth Management. 'Ernst & Young and Large Company Employees.'  Warren Street Wealth Management ,  www.warrenstreetwealth.com/fortune-500-and-large-company-employees/?utm_source=chatgpt.com . Accessed 6 Mar. 2025.

2. Lord Abbett. 'For Qualified Charitable Distributions, Timing Is Everything.'  Lord Abbett ,  www.lordabbett.com/en-us/financial-advisor/insights/retirement-planning/qualified-charitable-distributions---timing-is-everything.html?utm_source=chatgpt.com . Published Feb. 2025.

3. CLA. 'Qualified Charitable Distributions: Benefits and Impact.'  CLA Connect ,  www.claconnect.com/en/resources/articles/24/qualified-charitable-distributions-benefits-and-impact?utm_source=chatgpt.com . Published Dec. 2024.

4. The Retirement Group. 'Guide to a Secure Retirement for Ernst & Young Employees or Retirees.'  The Retirement Group ,  www.theretirementgroup.com/guide-to-a-secure-retirement-for-fortune-500-employees-or-retirees?utm_source=chatgpt.com . Published June 2024.

5. State Street Global Advisors. '6 Steps to Bring Financial Wellness to the Workplace.'  State Street Global Advisors ,  www.ssga.com/library-content/pdfs/dc/6-steps-to-bring-financial-wellness-to-the-workplace.pdf?utm_source=chatgpt.com . Published Aug. 2024.