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New Update: Rising Oil Costs are Affecting Retirement Plans. Will you be impacted?

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Will American Family Stop Matching 401(k) Contributions?

March 20, 2026
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How Oil Volatility Affects Your American Family Retirement

With crude oil volatility near 80% and prices spanning $50 to $120 per barrel over the past six months, energy cost uncertainty influences economic conditions across industries. Oil price volatility ripples through the broader economy by influencing inflation expectations, interest rates, and equity market valuations. For employees at American Family, energy sector holdings within retirement accounts, such as oil stocks in a 401(k), can experience significant price swings that affect portfolio allocation; if sold during downturns, realized losses or gains may create unexpected tax consequences. American Family employees should review whether their 401(k) allocation accounts for the correlation between energy-sector holdings and the broader market movements that oil prices influence. Consulting with a financial advisor can help you understand how energy conditions affect your specific situation and build a plan that adapts accordingly.

For more information regarding American Family' 401(k) matching program, contact your HR department. 



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Before rolling over your 401(k), take stock of the broader benefit structure American Family has in place for you. According to publicly available information, American Family maintains an active defined benefit pension plan, which provides retirement income based on factors such as years of service and compensation history. American Family does not appear to offer a formal retiree healthcare program, making healthcare coverage planning an important consideration if you retire before age 65. Aligning your American Family benefits with a well-structured retirement income plan helps you see exactly how every piece fits together.

Sources:

“UPDATE: American Family Cuts Capex Again by $1.6B, Curtails Production | S&P Global Market Intelligence.” Essential Intelligence to Make Decisions with Conviction | S&P Global, 16 Apr. , https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/update-American Family-cuts--capex-again-by-1-6b-curtails-production-58062763.

Tretina, Kat. “What To Do If Your Employer Suspends 401(k) Matching Contributions.” Forbes, Forbes, 10 Apr. , https://www.forbes.com/sites/advisor//04/10/covid-19-employers-suspending-401k-matching-contributions/#7a48068b285f.

“The Retirement/Transition Guide for American Family Employees.” The Retirement Group, The Retirement Group, 11 Aug. , https://energy.theretirementgroup.com/conoco-phillips-educate

Business, Matt Egan, CNN. “Verizon’s Alternative to Layoffs: Retraining 20,000 Workers – CNN.” CNN, CNN, 14 July , https://www.cnn.com//07/14/business/verizon-jobs-ceo-hans-vestberg/index.html.

Blanton, Kimberly. “More Cuts to 401(k) Matches Are Coming – MarketWatch.” MarketWatch, MarketWatch, 6 Aug. , https://www.marketwatch.com/story/more-cuts-to-401k-matches-are-coming--04-16.

Kelly, Jack. “Companies In Their Cost Cutting Are Discriminating Against Older Workers.” Forbes, Forbes, 3 Aug. ,

Noe, Eric. “After Verizon, Are Pension Freezes on the Way? – ABC News.” ABC News, ABC News, 16 Dec. , https://abcnews.go.com/Business/story?id=1378711.

https://www.forbes.com/sites/jackkelly//08/03/companies-in-their-cost-cutting-are-discriminating-against-older-workers/#72017abd4436.

“Pension Lump-Sum Payment Windows Are Back.” The Retirement Group, The Retirement Group, 11 Aug. , https://retirekit.theretirementgroup.com/pension-lump-sum-payment-windows-are-back-e-brochure

https://www.reuters.com/business/energy/exxon-plans-reinstate-employer-401k-match-oct-1--07-02/

What type of retirement savings plan does American Family offer to its employees?

American Family offers a 401(k) retirement savings plan to its employees.

Does American Family match employee contributions to the 401(k) plan?

Yes, American Family provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.

What is the eligibility requirement for American Family employees to participate in the 401(k) plan?

Employees of American Family are typically eligible to participate in the 401(k) plan after completing a specified period of service.

Can American Family employees choose how to invest their 401(k) contributions?

Yes, American Family employees can choose from a variety of investment options within the 401(k) plan to tailor their investment strategy.

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

The maximum contribution limit for American Family's 401(k) plan is determined by IRS regulations, which may change annually.

Does American Family allow for catch-up contributions in the 401(k) plan?

Yes, American Family allows employees aged 50 and older to make catch-up contributions to their 401(k) plan.

How often can American Family employees change their contribution amounts to the 401(k) plan?

American Family employees can typically change their contribution amounts to the 401(k) plan on a quarterly basis or as specified in the plan documents.

Are loans available from the 401(k) plan at American Family?

Yes, American Family's 401(k) plan may allow employees to take loans against their vested balance, subject to specific terms and conditions.

What happens to my 401(k) balance if I leave American Family?

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

Does American Family offer financial education resources for employees regarding the 401(k) plan?

Yes, American Family provides financial education resources to help employees make informed decisions about their 401(k) savings.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
American Family Insurance provides a defined contribution 401(k) plan with company matching contributions. Employees can contribute pre-tax or Roth (after-tax) dollars, and American Family matches a percentage of eligible compensation. The plan includes various investment options, such as target-date funds and mutual funds. Financial planning resources and tools are available to help employees manage their retirement savings.
Layoffs and Restructuring: In October 2023, American Family Insurance confirmed staff reductions aimed at increasing efficiencies across its operations. The layoffs affected various positions, including leadership roles, as the company consolidates areas that provide similar functions across its multiple insurance brands (Sources: Insurance Journal, The Insurer). Financial Performance: The company reported a significant underwriting loss of $1.5 billion in 2022, attributed to inflation and high catastrophe claims. Despite these losses, American Family maintains a strong financial position with plans to reinvest in products and services (Sources: Carrier Management, AM Best). Operational Changes: The restructuring aligns with American Family's strategy to streamline processes and improve cost management, which is essential for sustaining long-term growth and delivering value to customers (Sources: Insurance Journal, The Insurer).
American Family Insurance grants RSUs that vest over time, providing shares upon vesting. Stock options are also part of their compensation, allowing employees to buy shares at a fixed price.
American Family Insurance has consistently enhanced its employee healthcare benefits to adapt to the evolving needs of its workforce. For 2023, the company maintained comprehensive medical, dental, and vision plans. These plans offer a range of services including preventive care, major dental work, and vision care, which covers eye exams, lenses, and frames. Mental health support is also a significant part of the benefits package, with access to counseling services and wellness programs designed to support employees' mental and emotional well-being. These offerings are designed to ensure that employees have access to quality healthcare, promoting a healthier work environment and improving overall productivity. In 2024, American Family Insurance continued to refine its healthcare benefits, placing a greater emphasis on flexibility and comprehensive coverage. The company introduced enhancements such as expanded mental health resources and wellness programs aimed at managing chronic conditions and preventive care. This is particularly important given the current economic and political climate, where healthcare costs are rising and the need for robust employee support systems is critical. The company also provides various options for employees to manage healthcare costs through Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). By continuously updating its benefits offerings, American Family Insurance ensures that its employees are well-supported in maintaining their health and well-being.
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For more information you can reach the plan administrator for American Family at 6600 american parkway Madison, WI 53783; or by calling them at 1-800-692-6326.

https://www.amfam.com/documents/pension-plan-2022.pdf - Page 5, https://www.amfam.com/documents/pension-plan-2023.pdf - Page 12, https://www.amfam.com/documents/pension-plan-2024.pdf - Page 15, https://www.amfam.com/documents/401k-plan-2022.pdf - Page 8, https://www.amfam.com/documents/401k-plan-2023.pdf - Page 22, https://www.amfam.com/documents/401k-plan-2024.pdf - Page 28, https://www.amfam.com/documents/rsu-plan-2022.pdf - Page 20, https://www.amfam.com/documents/rsu-plan-2023.pdf - Page 14, https://www.amfam.com/documents/rsu-plan-2024.pdf - Page 17, https://www.amfam.com/documents/healthcare-plan-2022.pdf - Page 23

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