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Navigating Retirement at Moderna: A Guide to Helping Increase Your Benefits in 2025

'Moderna employees must remain vigilant in adapting to ongoing changes in retirement benefits, from COLA adjustments to TSP contributions, to ensure they are maximizing their retirement options and securing their financial future.' – Wesley Boudreaux, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Moderna employees should take advantage of retirement tools like catch-up contributions and Medicare strategies to optimize their benefits, ensuring a smooth transition into retirement with comprehensive coverage and financial security.' – Patrick Ray, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

Key Updates on Retirement Benefits— Changes in annuities, cost-of-living adjustments, and Thrift Savings Plan (TSP) contributions.
Essential Insurance and Healthcare Considerations— Medicare enrollment strategies, FEGLI policy adjustments, and FEDVIP premium updates.
Financial and Estate Planning for a Comprehensive Future— Long-term care options, estate planning, and managing post-retirement benefits.

As 2025 unfolds, more options and considerations for Moderna employees and retirees are emerging in the retirement landscape. You will find this guide useful for making the transition to retirement.

Updates on Annuities & Cost of Living Adjustments.

Here are a few tools and services from Moderna to help you manage your annuity benefits. Annuity payments for retirees were adjusted in January 2025 for the 2024 cost-of-living adjustments (COLA), effective December 1, 2024. The COLA is 2.0% for Federal Employees Retirement System recipients and 2.5% for Civil Service Retirement System recipients. Social Security and military retirement payments also rise 2.5%. [Source needed]

Insurance Considerations

In retirement planning, insurance is an essential purchase. Regular reviews of your Federal Employees Group Life Insurance (FEGLI) policy are recommended as retirement approaches. Remember, FEGLI premiums increase every five years starting at age 50 - this can squeeze your budget. You can also enroll in Medicare Part A when you reach 65 to avoid penalties if you haven't claimed Social Security benefits yet.

Thrift Savings Plan Insights

Contributions to the Thrift Savings Plan (TSP) must increase. Those over 50 can contribute an additional USD 7,500 in 2025. To receive the full benefit of matching contributions, a minimum contribution of 5% per pay period is advised.

Medicare Enrollment Strategies

Crucial decisions regarding Medicare enrollment include when to enroll in parts A, B, C, and D. Combining your FEHB and TRICARE for Life with Medicare Parts A and B can lower your out-of-pocket costs.

The Federal Employees Dental and Vision Insurance Program (FEDVIP) is administered by the Federal Employees Dental and Vision Insurance Program (FEDVIP).

Participants in FEDVIP should know that 2025 premium changes could impact benefits. Update your enrollment details after a major life event or relocation for coverage continuity.

Long-Term Care & Retirement Planning.

Understand long-term care insurance and how it fits into your retirement planning. Check out the terms of your policy and how it fits in with other benefits you may be able to receive.

Estate Planning & Beneficiary Designations.

Estate planning and current beneficiary designations are critical to your assets. Regularly review and update these designations based on your personal situation.

Retirement Training and Resources

People nearing retirement can get training and tools. They include webinars and seminars on topics as simple as retirement planning to more complex issues like long-term care and Medicare options.

TSP Withdrawals and Regulations

New legislation affecting required minimum distributions (RMDs) and TSP withdrawals will help you manage your TSP account in retirement.

Retention of Personal Documents

Retaining copies of important documents, such as your proof of insurance and Notification of Personnel Action (SF-50s), is helpful when you retire to verify eligibility and service estimates.

Post-Retirement Federal Benefits Management

Staying connected with the Office of Personnel Management and other relevant agencies helps with benefit administration after retirement. Continuous management is needed for Medicare coordination, insurance coverage maintenance, and annuity adjustment.

So, in conclusion, 2025 brought many updates and revisions to retirement planning at Moderna. Staying proactive in managing your retirement plans, understanding policy impacts, and making informed decisions will enhance your retirement outcomes for a full and fulfilling retirement.

Articles you may find interesting:

Sources:

1. The Thrift Savings Plan. 2025 TSP Contribution Limits . 13 Nov. 2024, www.tsp.gov .

2. Friedman, Drew. 2025 COLA Will Be 2.5%, but Some Federal Retirees Get a Smaller Percentage . Federal News Network , 10 Oct. 2024, www.federalnewsnetwork.com .

3. Internal Revenue Service. 401(k) Limit Increases to $23,500 for 2025, IRA Limit Remains $7,000 . 1 Nov. 2024, www.irs.gov .

4. Serving Those Who Serve Editorial Team. 2025 Social Security COLA Increase . Serving Those Who Serve , Oct. 2024, www.stwserve.com .

5. The Thrift Savings Plan. SECURE Act 2.0, Section 109: Higher Catch-Up Limit to Apply at Age 60, 61, 62, and 63 . Jan. 2025, www.tsp.gov .

What is the 401(k) plan offered by Moderna?

Moderna offers a 401(k) plan that allows employees to save for retirement by contributing a portion of their salary on a pre-tax or Roth after-tax basis.

How can I enroll in Moderna's 401(k) plan?

Employees can enroll in Moderna's 401(k) plan through the company’s benefits portal during the open enrollment period or within 30 days of their hire date.

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

Yes, Moderna provides a company match for employee contributions to the 401(k) plan, which helps boost retirement savings.

What is the maximum contribution limit for Moderna's 401(k) plan?

For 2023, the maximum contribution limit for Moderna's 401(k) plan is $22,500, with an additional catch-up contribution of $7,500 for employees aged 50 and older.

Can I change my contribution percentage to Moderna's 401(k) plan?

Yes, employees can change their contribution percentage to Moderna's 401(k) plan at any time through the benefits portal.

What investment options are available in Moderna's 401(k) plan?

Moderna's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

How often can I change my investment choices in Moderna's 401(k) plan?

Employees can change their investment choices in Moderna's 401(k) plan at any time, allowing for flexibility in managing their retirement savings.

Is there a vesting schedule for the company match in Moderna's 401(k) plan?

Yes, Moderna has a vesting schedule for the company match, which typically requires employees to work for a certain number of years before they fully own the matched contributions.

Can I take a loan against my 401(k) with Moderna?

Yes, Moderna allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan document.

What happens to my 401(k) plan if I leave Moderna?

If you leave Moderna, you have several options for your 401(k) plan, including rolling it over to an IRA or a new employer's plan, cashing it out, or leaving it with Moderna.