<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

Why Magellan Midstream Partners Employees Can Thrive in Retirement Without a Bucket List

image-table

Healthcare Provider Update: Healthcare Provider for Magellan Midstream Partners Magellan Midstream Partners, like many large companies, typically provides a range of healthcare options for its employees, including coverage through major national insurers. The specific providers may vary, but among the top insurers suggesting significant premium increases for 2026 are UnitedHealthcare, Anthem, and Cigna, which may impact Magellan employees. Potential Healthcare Cost Increases in 2026 As the healthcare landscape evolves, Magellan Midstream Partners employees are poised to face significant cost increases in 2026. With healthcare premiums expected to rise sharply, particularly due to the expiration of enhanced federal subsidies, employees could see out-of-pocket costs escalate by over 75%. These anticipated hikes, with some states reporting individual market increases of more than 60%, highlight the pressing need for employees to review their healthcare plans proactively, taking steps to minimize financial strain amidst these escalating expenses. Click here to learn more

The first few years of retirement are frequently a time of transitions for many, including those leaving Magellan Midstream Partners. 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 Magellan Midstream Partners 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 Magellan Midstream Partners. 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:

Loading...


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 Magellan Midstream Partners offer to its employees?

Magellan Midstream Partners offers a 401(k) retirement savings plan to its employees.

Does Magellan Midstream Partners match employee contributions to the 401(k) plan?

Yes, Magellan Midstream Partners provides a matching contribution to employee contributions to the 401(k) plan, subject to certain limits.

What is the eligibility requirement for employees to participate in the Magellan Midstream Partners 401(k) plan?

Employees of Magellan Midstream Partners are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

How can employees of Magellan Midstream Partners enroll in the 401(k) plan?

Employees can enroll in the Magellan Midstream Partners 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What investment options are available in the Magellan Midstream Partners 401(k) plan?

The Magellan Midstream Partners 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees of Magellan Midstream Partners change their contribution percentage to the 401(k) plan?

Yes, employees can change their contribution percentage to the Magellan Midstream Partners 401(k) plan at any time, subject to plan rules.

Is there a limit on how much employees can contribute to the Magellan Midstream Partners 401(k) plan?

Yes, the IRS sets annual contribution limits for 401(k) plans, and employees of Magellan Midstream Partners must adhere to these limits.

When can employees of Magellan Midstream Partners access their 401(k) funds?

Employees can access their 401(k) funds upon reaching retirement age, or in cases of hardship, termination of employment, or other qualifying events as defined by the plan.

Does Magellan Midstream Partners offer a loan option against the 401(k) plan?

Yes, Magellan Midstream Partners allows employees to take loans against their 401(k) balance, subject to specific terms and conditions.

What happens to the 401(k) plan if an employee leaves Magellan Midstream Partners?

If an employee leaves Magellan Midstream Partners, they may roll over their 401(k) balance to another retirement account, cash out, or leave it in the plan if permitted.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Plan Name: Magellan Midstream Partners Pension Plan Years of Service and Age Qualification: Employees generally need to have 5 years of service to qualify for benefits. The typical retirement age is 65. Pension Formula: Benefits are calculated based on a formula that considers years of service and average salary, but specific details are not disclosed publicly. Plan Name: Magellan Midstream Partners 401(k) Plan Eligibility: Employees are eligible to participate in the 401(k) plan after completing 30 days of service. Matching Contributions: The company offers a matching contribution up to a certain percentage of the employee's contribution, which is outlined in the plan details. Source Document: Magellan Midstream Partners 2023 Employee Benefits Summary
Restructuring and Layoffs: In 2023, Magellan Midstream Partners announced a restructuring plan aimed at streamlining operations and reducing costs. This included layoffs as part of their effort to optimize their workforce and improve overall efficiency. This restructuring is part of their strategy to better align with current market conditions and enhance profitability.
In 2022, Magellan Midstream Partners offered Stock Options (SO) and Restricted Stock Units (RSUs) to its senior executives and key employees. These were detailed in the annual report,
Company Official Website: The company's official website is Magellan Midstream Partners. Typically, companies include detailed health benefits information in the "Careers" or "Employee Benefits" sections. I'll look for specific terms and acronyms used by the company. HR and Benefits Reports: Magellan Midstream Partners often publishes annual reports or updates on their benefits. These reports can be found in the "Investor Relations" section or similar areas. Employee Reviews and Forums: Websites like Glassdoor and Indeed offer insights from current and former employees about the company's health benefits. These can provide practical details and employee sentiments. News Articles and Industry Reports: News outlets and industry reports might cover recent changes or news related to employee health benefits. Websites like Bloomberg, Reuters, or industry-specific publications are good sources. Healthcare Benefits Providers: Information about the healthcare providers and plans offered by the company can sometimes be found on third-party benefits comparison sites or directly from the providers themselves
New call-to-action

Additional Articles

Check Out Articles for Magellan Midstream Partners employees

Loading...

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

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for Magellan Midstream Partners employees