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Top Retirement Destinations for Flowers Foods Employees: Discover Where You Can Thrive in Your Golden Years

Healthcare Provider Update: Offers PPO and PPO Plus medical plans, with HSA/FSA options. Includes dental, vision, EAP, and short/long-term disability. ACA-related planning advised for retirees anticipating 2026 premium increases Click here to learn more

In a recent survey by Bankrate , Delaware has been identified as the premier state for retirement, ranking first in the company's annual survey, which assesses key elements influencing retirees' decisions. This year, Delaware rose from second place, surpassing Iowa, which now finds itself at ninth due to increased living expenses, property taxes, and homeowner insurance costs.

The Bankrate evaluation involved a comprehensive analysis of several data points across all states, excluding the District of Columbia. The rankings were based on five major categories: affordability (40% of the total score), overall well-being (25%), healthcare costs and quality (20%), weather (10%), and crime rate (5%). Flowers Foods employees will find these factors essential when considering where to enjoy their retirement.

Often overlooked as a retirement destination, Delaware boasts numerous benefits that have solidified its status among retirees. It offers superior healthcare services, a favorable tax environment with no state or municipal tax, and an exemption from Social Security benefit taxes, enhancing its affordability. Despite higher-than-average living expenses, these financial perks make Delaware an attractive option for those seeking a stable post-career life.

The demographic profile of the country is notable for its high proportion of residents aged 62 and older, which enriches its collective diversity. However, Delaware does have areas of concern, including crime rates and the cost of living, which have not been as favorable. For Flowers Foods retirees, understanding these dynamics is crucial to making an informed decision.

Alongside Delaware were West Virginia, Georgia, South Carolina, and Missouri, all renowned for their great affordability. In particular, West Virginia's low living and real estate expenses, coupled with affordable home insurance, secured its second-place position, even though it achieved better health quality. Georgia advanced from fifth to third place last year due to lower living expenses and home insurance rates, despite continuing issues with healthcare and crime. South Carolina, ranked fourth since the nineteenth century, is valued for its affordability and climate, despite crime-related challenges.

In contrast, the states deemed least favorable for retirement included Alaska, New York, Washington, California, and North Dakota. Alaska remained the least favored due to its poor accessibility and adverse weather conditions. High living costs are a common challenge across the Northeast and West, affecting retirees' financial stability and their ability to maintain their savings. Flowers Foods employees should consider these factors when planning their retirement locations.

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Bankrate's study underscores the importance of feasibility in retirement planning, especially as many Americans feel financially unprepared for their retirement years. Relocating to a state that offers financial benefits can be a strategic decision for those nearing retirement age, thus allowing them to maximize their savings and enhance their quality of life during their golden years. This approach is particularly significant for individuals who are behind on their retirement savings, as moving to a more affordable location can significantly extend the duration and comfort of their retirement funds.

An often overlooked aspect of retirement planning is the availability of senior-friendly recreational activities, which can significantly enhance quality of life. For example, South Carolina, ranked fourth among the best states for retirement, offers a wide range of senior-friendly recreational activities, including over 360 golf courses and numerous national parks. This infrastructure not only provides entertainment but also opportunities for physical activity and socialization, which are essential for maintaining health and well-being in later life. Flowers Foods retirees might find such states especially appealing for their active and engaging post-retirement lifestyle.

What is the 401(k) plan offered by Flowers Foods?

The 401(k) plan at Flowers Foods is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them prepare for retirement.

Does Flowers Foods offer a company match for the 401(k) contributions?

Yes, Flowers Foods offers a company match for employee contributions to the 401(k) plan, which helps boost employees' retirement savings.

What is the eligibility requirement to participate in the Flowers Foods 401(k) plan?

Employees of Flowers Foods are eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.

How can employees of Flowers Foods enroll in the 401(k) plan?

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

What types of investment options are available in the Flowers Foods 401(k) plan?

The Flowers Foods 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their retirement savings.

Can employees change their contribution percentage to the Flowers Foods 401(k) plan?

Yes, employees can change their contribution percentage to the Flowers Foods 401(k) plan at any time, subject to the plan’s guidelines.

When can employees of Flowers Foods take a loan from their 401(k) plan?

Employees can take a loan from their Flowers Foods 401(k) plan under certain conditions, such as financial hardship or specific personal needs, as outlined in the plan documents.

What happens to the Flowers Foods 401(k) plan if an employee leaves the company?

If an employee leaves Flowers Foods, they can either roll over their 401(k) balance to a new employer's plan, an IRA, or withdraw the funds, subject to taxes and penalties.

Is there a vesting schedule for the company match in the Flowers Foods 401(k) plan?

Yes, Flowers Foods has a vesting schedule for the company match, meaning employees must work for a certain number of years before they fully own the matched contributions.

How often can employees of Flowers Foods review their 401(k) account statements?

Employees can review their Flowers Foods 401(k) account statements quarterly, and they can also access their accounts online at any time.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Flowers Foods offers a 401(k) Retirement Savings Plan through Empower for its employees, known as the FLOWERS FOODS, INC. 401(K) RETIREMENT SAVINGS PLAN. This plan covers approximately 11,266 employees. Flowers Foods, headquartered in Thomasville, Georgia, has been in operation since 1919, specializing in the production of bread, buns, cakes, and pastries. Their 401(k) plan includes a company match program, encouraging employees to contribute towards their retirement. Employees have the option to roll over their 401(k) into an IRA or a new 401(k) if they no longer work at the company (Jobs at Flowers Foods) (Capitalize). The specific eligibility criteria for the 401(k) plan at Flowers Foods includes full-time employment, and the company offers professional growth opportunities as part of their benefits package. For 2023 and 2024, Flowers Foods has maintained this plan under Empower with consistent matching contributions

Restructuring Layoffs: Flowers Foods has recently undergone significant restructuring, resulting in the elimination of approximately 250 positions across various departments. This move is part of a broader strategy to streamline operations, reduce complexity, and improve profitability. Despite the layoffs, Flowers Foods continues to pursue growth opportunities through innovation and strategic investments, indicating a focus on long-term sustainability. It's crucial to address these restructuring efforts due to the current economic pressures and the need for companies to adapt to changing market conditions. Benefit Changes and Pension/401(k) Updates: The company has also made adjustments to its employee benefits, including pension plans. They recently purchased an annuity to complete the termination of a pension plan, which aligns with their strategy of focusing resources on more profitable ventures. Additionally, Flowers Foods continues to provide a standard 401(k) match of up to 6%, although the program remains underutilized by employees. This highlights the importance of staying informed about benefit changes, especially in an uncertain economic and political environment. Addressing these updates is crucial as they directly impact employees' financial security and retirement planning.

2022: Flowers Foods granted Time-Based Restricted Stock Units (TBRSUs) under its 2014 Omnibus Equity and Incentive Compensation Plan. These RSUs vest based on continued employment over a specific period, typically three years. The RSUs do not carry voting rights or dividend rights until they vest and convert into actual shares of Flowers Foods stock (Justia). 2023: The company continued to offer similar equity incentives, focusing on performance-contingent RSUs. These RSUs vest based on the company's performance metrics, such as Return on Invested Capital (ROIC) and Total Shareholder Return (TSR). The vesting periods for these RSUs run through 2024, ensuring that recipients remain with the company while contributing to its long-term success (Nasdaq). 2024: The company has not significantly altered its stock options and RSU offerings, continuing to use performance-based vesting criteria to motivate and retain key personnel. The RSUs remain a key component of compensation for Flowers Foods’ executives and upper management (Justia) (Nasdaq).

Flowers Foods offers a comprehensive health benefits package aimed at supporting the long-term well-being of its employees and their families. The company provides two main medical plan options: PPO and PPO Plus, the latter of which is associated with a Health Savings Account (HSA). Other benefits include Flexible Spending Accounts (FSA) for healthcare and dependent care, dental and vision insurance, short-term disability coverage, and voluntary long-term disability insurance. The company also offers an Employee Assistance Plan (EAP) and various supplemental insurance options

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

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