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

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Top Retirement Destinations for WEC Energy Group Employees: Discover Where You Can Thrive in Your Golden Years

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Healthcare Provider Update: WEC Energy Group's healthcare provider is the Retirement Group, a division of Wealth Enhancement Group, which assists employees with navigating complex benefit structures and potential healthcare challenges. In 2026, employees at WEC Energy Group may face significant healthcare cost increases due to projected premium hikes in the ACA marketplace, influenced by the expiration of enhanced federal subsidies, rising medical costs, and the push from insurers seeking higher premiums. As a result, many employees might see a steep rise in out-of-pocket expenses, with some forecasts suggesting increases could exceed 75%. To navigate these financial pressures, employees are encouraged to familiarize themselves with upcoming benefit changes and strategically review their healthcare options. 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%). WEC Energy Group 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 WEC Energy Group 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. WEC Energy Group 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. WEC Energy Group retirees might find such states especially appealing for their active and engaging post-retirement lifestyle.

What is the 401(k) plan offered by WEC Energy Group?

The 401(k) plan at WEC Energy Group is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.

How can I enroll in the WEC Energy Group 401(k) plan?

Employees can enroll in the WEC Energy Group 401(k) plan by completing the enrollment process online through the company’s benefits portal.

Does WEC Energy Group offer any matching contributions to the 401(k) plan?

Yes, WEC Energy Group offers matching contributions to the 401(k) plan, which helps employees boost their retirement savings.

What is the vesting schedule for the WEC Energy Group 401(k) plan?

The vesting schedule for the WEC Energy Group 401(k) plan typically requires employees to work for a certain number of years before they fully own the company’s matching contributions.

Can I change my contribution amount to the WEC Energy Group 401(k) plan?

Yes, employees can change their contribution amounts to the WEC Energy Group 401(k) plan at any time, subject to plan rules.

What investment options are available in the WEC Energy Group 401(k) plan?

The WEC Energy Group 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.

Is there a loan option available in the WEC Energy Group 401(k) plan?

Yes, the WEC Energy Group 401(k) plan may allow employees to take loans against their account balance under certain conditions.

What happens to my 401(k) account if I leave WEC Energy Group?

If you leave WEC Energy Group, you will have several options for your 401(k) account, including rolling it over to another retirement account or leaving it with WEC Energy Group.

How can I access my 401(k) account information with WEC Energy Group?

Employees can access their 401(k) account information through the WEC Energy Group benefits portal or by contacting the HR department.

Are there any fees associated with the WEC Energy Group 401(k) plan?

Yes, the WEC Energy Group 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

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

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