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Navigating Inflation: Essential Insights for Caleres Employees to Safeguard Their Retirement Plans

Healthcare Provider Update: Caleres provides employees with medical, dental, and vision insurance, along with HSA and FSA options. The company offers a 401(k) plan with up to 6.5% contribution, life and disability insurance, education assistance, and paid time off. Additional benefits include pet insurance, employee discounts, and charitable match programs 4. Caleres As ACA premiums climb, Caleres diverse benefits and employer contributions offer employees a cost-effective alternative to individual coverage. Strategic planning in 2025 can help employees maximize these offerings before marketplace costs spike. Click here to learn more

As a Caleres employee earning a good wage, remember when everyday products were much cheaper than they are now? That's a real-life example of inflation, an unavoidable phenomenon that erodes the value of money by pushing prices up over time. If capital isn't being put to work and making a return during inflationary periods, the purchasing power of investor capital is declining.

'If capital isn't being put to work and making a return during inflationary periods, the purchasing power of investor capital is declining.'

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As a Caleres employee interested in investing, it is important to consider how investors have a wide range of tools at their disposal to protect their portfolios from inflation. Some prefer inflation-protected bonds, while others swear by commodities such as gold as effective inflation hedges. Investing in stocks has historically been one of the best ways to offset, or even outpace, inflation's degenerative effects on one's savings. For Caleres employees, it is important to account for this information when planning your finances as to create a portfolio that minimizes volatility and accounts for inflation.

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We still have a tremendous amount of interest from advisors looking into commodity funds, ETFs and other inflation protection instruments to protect against potential inflation.

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

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

How can employees at Caleres enroll in the 401(k) plan?

Employees can enroll in the Caleres 401(k) plan by completing the enrollment process through the company's designated benefits portal or by contacting the HR department for assistance.

Does Caleres provide any matching contributions to the 401(k) plan?

Yes, Caleres offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.

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

Employees must meet specific eligibility criteria, such as age and length of service, to participate in Caleres' 401(k) plan.

Can employees at Caleres change their contribution amounts to the 401(k) plan?

Yes, employees at Caleres can change their contribution amounts to the 401(k) plan at any time, subject to the plan's rules.

What investment options are available in the Caleres 401(k) plan?

The Caleres 401(k) plan offers a variety of investment options, including mutual funds and target-date funds, allowing employees to choose based on their risk tolerance and retirement goals.

Is there a vesting schedule for employer contributions in Caleres' 401(k) plan?

Yes, Caleres has a vesting schedule for employer contributions, which determines when employees have full ownership of those contributions.

How can employees at Caleres access their 401(k) account information?

Employees can access their 401(k) account information through the online portal provided by the plan administrator or by contacting Caleres' HR department.

What happens to an employee's 401(k) account if they leave Caleres?

If an employee leaves Caleres, they have several options for their 401(k) account, including rolling it over to another retirement account, cashing it out, or leaving it in the Caleres plan if allowed.

Are loans available through the Caleres 401(k) plan?

Yes, Caleres allows employees to take loans against their 401(k) balance, subject to the plan's terms and conditions.

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

Caleres has announced a significant restructuring plan, including layoffs across several departments. The company is focusing on streamlining operations and reducing overhead costs.

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For more information you can reach the plan administrator for Caleres at 8300 Maryland Ave. St. Louis, MO 63105; or by calling them at +1 314-854-4000.