<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

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

image-table

Healthcare Provider Update: Healthcare Provider for KBR KBR, a company known for its engineering and construction services, provides health insurance through its partnerships with major health insurers. As of now, KBR employees have access to healthcare coverage options primarily through UnitedHealthcare, which is one of the largest health insurers in the United States. This ensures that employees can receive comprehensive health services, including preventive care and specialty treatments. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are projected to surge significantly, exacerbated by a challenging blend of factors. Many states are staring down potential increases in health insurance premiums beyond 60%, particularly influenced by the expiration of enhanced federal premium subsidies that could cause out-of-pocket costs to skyrocket by over 75% for most ACA marketplace enrollees. Coupled with rising medical expenses driven by inflation, the anticipated premium hikes reflect a perfect storm for consumers, increasing the financial burden on both individuals and families during a critical period. Insurers report significant revenue growth but also face mounting pressures that may further distress access to affordable healthcare coverage. 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%). KBR 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 KBR 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. KBR employees should consider these factors when planning their retirement locations.

Featured Video

Articles you may find interesting:

Loading...

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. KBR retirees might find such states especially appealing for their active and engaging post-retirement lifestyle.

What is KBR's 401(k) plan?

KBR's 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.

How does KBR match employee contributions to the 401(k) plan?

KBR offers a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions up to a certain limit.

When can employees at KBR start contributing to the 401(k) plan?

Employees at KBR can start contributing to the 401(k) plan after completing their initial eligibility period, which is usually outlined in the employee handbook.

What types of investment options are available in KBR's 401(k) plan?

KBR's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees diversify their portfolios.

Can employees at KBR take loans against their 401(k) savings?

Yes, KBR allows employees to take loans against their 401(k) savings, subject to certain conditions and limits set by the plan.

What happens to my KBR 401(k) if I leave the company?

If you leave KBR, you can choose to roll over your 401(k) balance to another retirement account, cash out your balance, or leave it in the KBR plan if allowed.

Is there a vesting schedule for KBR's 401(k) matching contributions?

Yes, KBR has a vesting schedule for matching contributions, meaning employees must work for a certain period to fully own the matched funds.

How can KBR employees change their contribution percentage to the 401(k) plan?

KBR employees can change their contribution percentage by accessing their account online or by contacting the HR department for assistance.

Does KBR provide educational resources for employees regarding their 401(k) plan?

Yes, KBR provides educational resources and workshops to help employees understand their 401(k) options and make informed investment decisions.

Are there any fees associated with KBR's 401(k) plan?

Yes, KBR's 401(k) plan may have administrative fees and investment-related fees, 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.
KBR Employee Pension Plan Name of the Pension Plan: KBR Pension Plan Pension Formula: KBR provides a defined benefit pension plan based on a formula that includes years of service and average salary. Years of Service and Age Qualification: Generally, employees need to have a minimum of 5 years of service and must be at least 55 years old to qualify for full benefits. Name of the 401(k) Plan: KBR 401(k) Savings Plan Eligibility: Employees are eligible to participate in the KBR 401(k) Savings Plan after completing 30 days of service
Restructuring and Layoffs: In 2023, KBR announced a significant restructuring plan aimed at streamlining its operations. This included a reduction in workforce, particularly targeting roles in administrative and support functions. The company cited the need to enhance operational efficiency and adapt to shifting market demands. This move is significant in the current economic environment as companies are focusing on optimizing resources amid economic uncertainty and evolving industry landscapes.
Stock Options: KBR offered stock options to senior executives and high-performing employees, primarily using the acronym SOP (Stock Option Plan). The SOP provided an opportunity for employees to purchase KBR stock at a fixed price, usually with a vesting period of four years. Source: SEC Form 10-K, Page 34 RSUs: KBR granted RSUs to eligible employees, typically using the acronym RSU (Restricted Stock Units). These RSUs vested over a period of three years, rewarding long-term commitment. Source: Yahoo Finance, KBR Annual Report, Page 20
Health Benefits: KBR provides a comprehensive benefits package including medical, dental, and vision coverage. They offer various plans including PPOs, HSAs, and FSAs. Acronyms and Terms: Common terms include PPO (Preferred Provider Organization), HSA (Health Savings Account), FSA (Flexible Spending Account), EAP (Employee Assistance Program), and EPO (Exclusive Provider Organization).
New call-to-action

Additional Articles

Check Out Articles for KBR employees

Loading...

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

https://www.thelayoff.com/ https://www.kbr.com/en/employee-tools https://intellizence.com/insights/layoff-downsizing/leading-companies-announcing-layoffs-and-hiring-freezes/ https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/fact-sheets/cash-balance-pension-plans https://www.kiplinger.com/retirement/cash-balance-pension-plan-options https://www.milliman.com/en/insight/2023-lump-sums-defined-benefit-plans-much-lower-as-interest-rates-rise https://www.dol.gov/

*Please see disclaimer for more information

Relevant Articles

Check Out Articles for KBR employees