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

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As a Meritor 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 Meritor 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 Meritor 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 primary purpose of Meritor's 401(k) Savings Plan?

The primary purpose of Meritor's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax or after-tax basis.

How can employees enroll in Meritor's 401(k) Savings Plan?

Employees can enroll in Meritor's 401(k) Savings Plan by accessing the enrollment portal through the company’s HR website or by contacting the HR department for assistance.

What types of contributions can employees make to Meritor's 401(k) Savings Plan?

Employees can make pre-tax contributions, Roth (after-tax) contributions, and may also be eligible for catch-up contributions if they are age 50 or older.

Does Meritor offer any matching contributions to the 401(k) Savings Plan?

Yes, Meritor offers a matching contribution to the 401(k) Savings Plan, which is designed to encourage employees to save for retirement.

What is the vesting schedule for matching contributions at Meritor?

The vesting schedule for matching contributions at Meritor typically follows a graded schedule, where employees become vested in their employer match over a period of time.

Can employees change their contribution amounts to Meritor's 401(k) Savings Plan?

Yes, employees can change their contribution amounts to Meritor's 401(k) Savings Plan at any time, subject to the plan’s guidelines.

What investment options are available in Meritor's 401(k) Savings Plan?

Meritor's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees diversify their portfolios.

How often can employees reallocate their investments in Meritor's 401(k) Savings Plan?

Employees can typically reallocate their investments in Meritor's 401(k) Savings Plan on a quarterly basis or as specified in the plan documents.

Is there a loan provision in Meritor's 401(k) Savings Plan?

Yes, Meritor's 401(k) Savings Plan may allow employees to take loans against their account balance, subject to certain conditions and limits.

At what age can employees begin withdrawing from Meritor's 401(k) Savings Plan without penalties?

Employees can begin withdrawing from Meritor's 401(k) Savings Plan without penalties at age 59½, provided they meet the plan's requirements.

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

*Please see disclaimer for more information

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