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

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Healthcare Provider Update: Compass offers comprehensive medical, dental, and vision insurance, plus HSAs, FSAs, and supplemental coverage like accident and critical illness insurance 3. With ACA premiums rising and enhanced subsidies expiring, Compasss robust benefits help employees maintain coverage without facing steep out-of-pocket costs. Click here to learn more

As a Compass 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.' woman signing on white printer paper beside woman about to touch the documents

 


As a Compass 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 Compass 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 is the 401(k) plan offered by Compass?

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

How can I enroll in the Compass 401(k) plan?

You can enroll in the Compass 401(k) plan by completing the online enrollment form available on the employee portal.

Does Compass match contributions to the 401(k) plan?

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

What is the maximum contribution limit for the Compass 401(k) plan?

The maximum contribution limit for the Compass 401(k) plan is in line with IRS guidelines, which are updated annually.

When can I start contributing to the Compass 401(k) plan?

Employees at Compass can start contributing to the 401(k) plan after completing their eligibility period, typically within the first few months of employment.

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

The Compass 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can I take a loan against my Compass 401(k) plan?

Yes, Compass allows employees to take loans against their 401(k) plan, subject to certain terms and conditions.

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

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

Is there a vesting schedule for the Compass 401(k) plan?

Yes, Compass has a vesting schedule for employer contributions, which determines how much of the company's contributions you own based on your years of service.

How often can I change my contributions to the Compass 401(k) plan?

Employees can change their contribution amounts to the Compass 401(k) plan at any time, subject to payroll processing deadlines.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Compass has announced a significant restructuring plan, including a 10% reduction in workforce and changes to employee benefits. The restructuring aims to streamline operations and improve profitability in a competitive real estate market. These changes are crucial to address due to the current economic uncertainty, which affects investment stability and may impact tax policies.
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For more information you can reach the plan administrator for Compass at 90 Fifth Avenue New York, NY 10011; or by calling them at (212) 913-9058.

*Please see disclaimer for more information

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