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

As a Quanta Services 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 Quanta Services 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 Quanta Services 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 Quanta Services?

The 401(k) plan offered by Quanta Services 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 Quanta Services 401(k) plan?

Employees can enroll in the Quanta Services 401(k) plan during the initial enrollment period or during open enrollment periods by accessing the benefits portal.

Does Quanta Services match employee contributions to the 401(k) plan?

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

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

The maximum contribution limit for the Quanta Services 401(k) plan follows the IRS guidelines, which may change annually. Employees should check the latest limits for the current year.

Can I take a loan against my 401(k) plan with Quanta Services?

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

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

The Quanta Services 401(k) 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 I change my contribution amount to the Quanta Services 401(k) plan?

Employees can change their contribution amounts to the Quanta Services 401(k) plan at any time, typically through the benefits portal or by contacting HR.

Is there a vesting schedule for the Quanta Services 401(k) matching contributions?

Yes, Quanta Services has a vesting schedule for matching contributions, which determines how much of the employer's contributions employees are entitled to based on their years of service.

What happens to my 401(k) plan if I leave Quanta Services?

If you leave Quanta Services, you have several options regarding your 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it with Quanta Services until you reach retirement age.

Can I access my 401(k) funds while still employed at Quanta Services?

Generally, employees cannot access their 401(k) funds while still employed at Quanta Services unless they meet specific hardship criteria.