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

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Healthcare Provider Update: Provides medical, dental, vision, life insurance, disability coverage, FSAs, HSAs, wellness programs, and retirement plans. Also includes employee assistance programs and financial education resources. As ACA premiums rise, Populars comprehensive benefits and financial wellness tools help employees avoid the financial burden of marketplace plans. Click here to learn more

As a Popular 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 Popular 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 Popular 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 Popular offer to its employees?

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

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

Employees at Popular can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

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

Yes, Popular provides a matching contribution to the 401(k) plan, helping employees maximize their retirement savings.

What is the eligibility requirement for Popular's 401(k) plan?

Employees at Popular typically become eligible for the 401(k) plan after completing a specified period of service, usually within the first year of employment.

Can employees at Popular change their contribution percentage to the 401(k) plan?

Yes, employees at Popular can change their contribution percentage at any time, subject to the plan's guidelines.

What investment options are available in Popular's 401(k) plan?

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

Is there a loan provision in Popular's 401(k) plan?

Yes, Popular's 401(k) plan includes a loan provision, allowing employees to borrow against their savings under certain conditions.

How often can employees at Popular review their 401(k) account statements?

Employees at Popular can review their 401(k) account statements quarterly, and they can also access their account online anytime.

What happens to my 401(k) balance if I leave Popular?

If you leave Popular, you can choose to roll over your 401(k) balance to another retirement account, cash it out, or leave it in the Popular plan if eligible.

Are there any fees associated with Popular's 401(k) plan?

Yes, there may be administrative fees associated with Popular's 401(k) plan, which are disclosed in the plan documents.

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

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