New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Why Martin Marietta Materials Employees Can Thrive in Retirement Without a Bucket List

Healthcare Provider Update: Healthcare Provider for Martin Marietta Materials The healthcare provider for Martin Marietta Materials is primarily UnitedHealthcare. They offer a range of health insurance plans to employees, which typically include various coverage options catering to both individual and family needs. Potential Healthcare Cost Increases in 2026 As we look toward 2026, Martin Marietta Materials anticipates significant challenges as healthcare costs are projected to rise substantially, driven by several factors. The expiration of enhanced ACA subsidies may lead to a surge in premiums, with some states witnessing increases of over 60%. Additionally, industry-wide medical costs are expected to rise by approximately 8.5%, spurred by ongoing inflation in healthcare services and the increasing costs of prescription drugs. This confluence of factors means that many employees could face a steep increase in their out-of-pocket expenses, compelling the company to consider strategic adjustments to its health benefits offerings. Click here to learn more

The first few years of retirement are frequently a time of transitions for many, including those leaving Martin Marietta Materials. 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 Martin Marietta Materials 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 Martin Marietta Materials. Discover how embracing an unstructured retirement can lead to increased contentment and pleasure, setting the stage for a rewarding future.

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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 Martin Marietta Materials offer to its employees?

Martin Marietta Materials offers a 401(k) retirement savings plan to its employees.

How can I enroll in the 401(k) plan at Martin Marietta Materials?

Employees can enroll in the 401(k) plan at Martin Marietta Materials by completing the enrollment process through the company’s benefits portal.

Does Martin Marietta Materials match employee contributions to the 401(k) plan?

Yes, Martin Marietta Materials provides a matching contribution to employee 401(k) plan contributions, subject to certain limits.

What is the maximum contribution limit for the 401(k) plan at Martin Marietta Materials?

The maximum contribution limit for the 401(k) plan at Martin Marietta Materials is in line with the IRS annual contribution limits, which can change each year.

Can employees at Martin Marietta Materials take loans against their 401(k) savings?

Yes, employees at Martin Marietta Materials may have the option to take loans against their 401(k) savings, subject to the plan’s terms.

What investment options are available in the Martin Marietta Materials 401(k) plan?

The Martin Marietta Materials 401(k) plan offers a variety of investment options, including mutual funds and target-date funds, allowing employees to choose based on their risk tolerance.

Is there a vesting schedule for the employer match in the Martin Marietta Materials 401(k) plan?

Yes, there is a vesting schedule for the employer match in the Martin Marietta Materials 401(k) plan, which determines when employees fully own the matched contributions.

Can I change my contribution percentage to the 401(k) plan at Martin Marietta Materials?

Yes, employees can change their contribution percentage to the 401(k) plan at Martin Marietta Materials at any time, subject to plan rules.

What happens to my 401(k) savings if I leave Martin Marietta Materials?

If you leave Martin Marietta Materials, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the plan if permitted.

Are there any fees associated with the Martin Marietta Materials 401(k) plan?

Yes, there may be administrative fees associated with the Martin Marietta Materials 401(k) plan, which are disclosed in the plan documents.

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: Martin Marietta Materials Pension Plan provides benefits based on years of service and age, with a defined benefit formula. 401(k) Plan: Martin Marietta Materials 401(k) Savings Plan offers opportunities for employees to contribute with an employer match after 30 days of service.

Layoffs & Restructuring: In 2023, Martin Marietta Materials announced a strategic restructuring plan aimed at optimizing operational efficiency. This involved a reduction in workforce, particularly in non-core areas, to streamline operations and reduce costs. The company stated that the layoffs were part of a broader strategy to enhance its competitive position amid fluctuating market conditions. Given the current economic climate, such restructuring is significant as it reflects the company’s effort to remain agile in response to economic uncertainties and shifts in the construction industry. Benefit Changes & 401k: There have been notable changes to the company's benefits package and 401k plan. Martin Marietta updated its retirement benefits by increasing the company match for 401k contributions to better support employee financial planning. Additionally, there have been adjustments to health benefits to align with new regulations and to improve coverage. These changes are important to address because they impact employee financial security and retirement planning, especially in a volatile economic environment where investment and tax conditions are continually evolving

Martin Marietta Materials stock options and RSUs are granted to attract and retain key talent within the company. Martin Marietta Materials provides these benefits primarily to executives and high-potential employees to align their interests with the company's long-term goals. The stock options and RSUs offered by Martin Marietta Materials in 2022, 2023, and 2024 are designed to incentivize and reward significant contributions to the company's success.

Health Benefits Summary: Martin Marietta Materials provides a comprehensive benefits package that includes medical, dental, and vision coverage. The benefits extend to both employees and their dependents. Specific Terms: HDHP (High Deductible Health Plan): A health insurance plan with higher deductibles and lower premiums. HSA (Health Savings Account): Tax-advantaged savings account used in conjunction with an HDHP. EAP (Employee Assistance Program): Provides mental health resources and counseling.