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Healthcare Provider Update: ScanSource offers medical, dental, and vision insurance to its employees, along with access to Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Mental Health Benefits. Additional perks include paid time off, tuition assistance, and flexible work arrangements 1. As ACA premiums are projected to rise by 1518% in 2026, ScanSources employer-sponsored coverage may offer more financial stability compared to marketplace plans. With enhanced subsidies set to expire, employees relying on ACA alternatives could face out-of-pocket increases exceeding 75%. Click here to learn more
As a ScanSource 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 ScanSource 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 ScanSource 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 ScanSource?
The 401(k) plan offered by ScanSource is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How does ScanSource match employee contributions to the 401(k) plan?
ScanSource provides a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions, up to a certain limit.
When can employees at ScanSource start contributing to the 401(k) plan?
Employees at ScanSource can start contributing to the 401(k) plan after completing their initial eligibility period, which is usually outlined in the employee handbook.
Does ScanSource offer a Roth 401(k) option?
Yes, ScanSource offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.
What investment options are available in ScanSource's 401(k) plan?
ScanSource's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How can employees at ScanSource access their 401(k) account information?
Employees at ScanSource can access their 401(k) account information through the plan's online portal or by contacting the plan administrator.
What is the vesting schedule for ScanSource's 401(k) matching contributions?
The vesting schedule for ScanSource's 401(k) matching contributions typically follows a graded schedule, meaning employees earn ownership of the match over time.
Can employees at ScanSource take loans against their 401(k) savings?
Yes, ScanSource allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.
What are the withdrawal options available in ScanSource's 401(k) plan?
ScanSource's 401(k) plan may allow for various withdrawal options, including hardship withdrawals, loans, and distributions upon retirement or termination of employment.
Is there an annual limit on contributions to ScanSource's 401(k) plan?
Yes, there is an annual limit on contributions to ScanSource's 401(k) plan, which is set by the IRS and may change annually.
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