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

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As a OneMain Holdings 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 OneMain Holdings 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 OneMain Holdings 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 OneMain Holdings?

The 401(k) plan at OneMain Holdings is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are deducted.

Does OneMain Holdings match employee contributions to the 401(k) plan?

Yes, OneMain Holdings offers a company match on employee contributions to the 401(k) plan, which helps employees save for retirement more effectively.

What is the eligibility requirement for OneMain Holdings' 401(k) plan?

Employees of OneMain Holdings are eligible to participate in the 401(k) plan after completing a specified period of service, typically outlined in the employee handbook.

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

Employees can enroll in the OneMain Holdings 401(k) plan through the company's benefits portal or by contacting the HR department for assistance.

What types of investment options are available in the OneMain Holdings 401(k) plan?

The OneMain Holdings 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles tailored to different risk levels.

Can employees at OneMain Holdings take loans against their 401(k) savings?

Yes, OneMain Holdings allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan documents.

What happens to my 401(k) savings if I leave OneMain Holdings?

If you leave OneMain Holdings, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out (which may incur penalties), or leaving it in the OneMain Holdings plan if allowed.

Is there a vesting schedule for the company match in the OneMain Holdings 401(k) plan?

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

How often can employees at OneMain Holdings change their 401(k) contribution amounts?

Employees can change their 401(k) contribution amounts at OneMain Holdings during designated enrollment periods or as allowed by the plan guidelines.

Does OneMain Holdings provide financial education resources for employees regarding the 401(k) plan?

Yes, OneMain Holdings provides financial education resources and workshops to help employees understand their 401(k) options and make informed investment decisions.