Healthcare Provider Update: Offers medical, dental, vision, FSAs, HSAs, and supplemental insurance options like critical illness and accident coverage 5. As ACA premiums surge, PBFs tax-advantaged accounts and group-rate insurance help employees manage rising healthcare expenses. Click here to learn more
As a PBF Energy 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 PBF Energy 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 PBF Energy 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 PBF Energy’s 401(k) Savings Plan?
The primary purpose of PBF Energy’s 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a tax-deferred basis.
How can I enroll in PBF Energy's 401(k) Savings Plan?
Employees can enroll in PBF Energy's 401(k) Savings Plan by completing the enrollment process through the company’s designated benefits portal or by contacting the HR department for assistance.
Does PBF Energy offer matching contributions to the 401(k) Savings Plan?
Yes, PBF Energy offers matching contributions to the 401(k) Savings Plan, which helps employees increase their retirement savings.
What types of investment options are available in PBF Energy’s 401(k) Savings Plan?
PBF Energy’s 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
When can I start contributing to PBF Energy’s 401(k) Savings Plan?
Employees can start contributing to PBF Energy’s 401(k) Savings Plan after they have completed their eligibility requirements, typically within the first few months of employment.
What is the maximum contribution limit for PBF Energy’s 401(k) Savings Plan?
The maximum contribution limit for PBF Energy’s 401(k) Savings Plan is determined by the IRS limits, which may change annually. Employees should refer to the plan documents for the current limits.
Can I take a loan against my 401(k) savings at PBF Energy?
Yes, PBF Energy’s 401(k) Savings Plan allows employees to take loans against their savings under certain conditions. Employees should review the plan documents for specific terms and conditions.
What happens to my 401(k) savings if I leave PBF Energy?
If you leave PBF Energy, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the PBF Energy plan if permitted.
Is there a vesting schedule for PBF Energy's matching contributions?
Yes, PBF Energy has a vesting schedule for matching contributions, which means that employees earn ownership of the matching funds over time based on their years of service.
How often can I change my contribution amount to PBF Energy’s 401(k) Savings Plan?
Employees can change their contribution amount to PBF Energy’s 401(k) Savings Plan at designated times throughout the year, as outlined in the plan documents.