Healthcare Provider Update: Healthcare Provider for Global Payments Global Payments, a prominent payment technology and software solutions provider, collaborates with various insurance providers to offer healthcare benefits to its employees. While specific healthcare providers may vary by region and plan, large insurers like Anthem and UnitedHealthcare are commonly associated with companies of this size, offering employer-sponsored health coverage options. Potential Healthcare Cost Increases in 2026 As we look toward 2026, employees of Global Payments may face significant increases in healthcare costs. A projected wave of premium hikes could see rates exceed 60% in some states, severely impacting out-of-pocket expenses. With many employers eyeing strategies to offset rising expenses, such as increasing deductibles and out-of-pocket maximums, employees must prepare for a potential financial strain. A recent study indicates that over 51% of large companies plan to shift more healthcare costs onto their workforce, coupled with the expiration of enhanced federal subsidies, which might ultimately leave employees with thousands in additional costs for same or lesser coverage. Careful planning and early decision-making regarding benefits will be crucial for navigating these changes effectively. Click here to learn more
The first few years of retirement are frequently a time of transitions for many, including those leaving Global Payments. It is a critical period that can influence the next few decades financially and emotionally. At the age of sixty-six, Wall Street Journal distinguished editor Stephen Kreider Yoder announced his retirement. His wife, sixty-seven-year-old Karen Kreider Yoder, followed suit. Their experiences, highlighted in the 'Retirement Rookies' column each month, demonstrate a departure from conventional retirement preparation. They emphasize crafting adaptable, meaningful experiences that serve as a foundation for future undertakings over following predetermined bucket lists.
This approach to retirement highlights a larger movement among individuals reimagining their post-employment years. By focusing on personal development and continual exploration, retirees can ensure a fuller, more satisfying experience. This narrative offers invaluable insights for Global Payments employees looking to maximize their life-changing retirement years.
Recent studies by the American Psychological Association (APA) underline the advantages of the Yoders' method of unstructured retirement planning. The research indicates that retirees adhering rigidly to their pre-planned bucket lists report lower levels of satisfaction and fulfillment compared to those who engage in activities based on their own interests and whims. This suggests that a flexible retirement lifestyle can lead to more fulfilling and significant experiences, an important consideration as employees transition from structured careers to the freedom of retirement.
In the Retirement Rookies column, Stephen and Karen Kreider Yoder share their journeys and offer a fresh perspective on retirement planning. Learn why they're passing on typical bucket lists in favor of flexible, meaningful experiences, and how this strategy might enhance your post-work years at Global Payments. Discover how embracing an unstructured retirement can lead to increased contentment and pleasure, setting the stage for a rewarding future.
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
Forgoing a conventional retirement plan is akin to sailing a ship without a defined course. Retirees like the Yoders choose to navigate the waters of their golden years with the liberty to uncover new horizons as they appear, rather than charting every port of call. This method, much like a sailor discovering new adventures in uncharted waters, allows them to encounter unexpected joys and experiences, enriching each day with personal growth and satisfaction.
What type of retirement savings plan does Global Payments offer to its employees?
Global Payments offers a 401(k) retirement savings plan to help employees save for their future.
Does Global Payments match employee contributions to the 401(k) plan?
Yes, Global Payments provides a matching contribution to employee 401(k) accounts, subject to certain terms and conditions.
What is the eligibility requirement for Global Payments employees to participate in the 401(k) plan?
Employees of Global Payments are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can Global Payments employees choose how their 401(k) contributions are invested?
Yes, Global Payments employees can choose from a variety of investment options within the 401(k) plan to align with their personal financial goals.
What is the maximum contribution limit for the Global Payments 401(k) plan?
The maximum contribution limit for the Global Payments 401(k) plan is subject to IRS annual limits, which can change each year.
How often can Global Payments employees change their contribution amounts to the 401(k) plan?
Global Payments employees can typically change their contribution amounts at any time, allowing for flexibility in their savings strategy.
Does Global Payments allow for loans against the 401(k) plan?
Yes, Global Payments may allow employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.
What happens to my Global Payments 401(k) if I leave the company?
If you leave Global Payments, you can choose to roll over your 401(k) balance to another retirement account, leave it in the plan, or withdraw it, subject to tax implications.
Is there a vesting schedule for the Global Payments 401(k) matching contributions?
Yes, Global Payments has a vesting schedule for matching contributions, which means you earn rights to the employer match over time.
Can I access my Global Payments 401(k) funds before retirement?
While accessing your Global Payments 401(k) funds before retirement is generally discouraged, there are certain circumstances, such as financial hardship, that may allow for early withdrawals.