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

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As a Snap 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 Snap 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 Snap 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 Snap offer to its employees?

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

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

Yes, Snap provides a matching contribution to employee 401(k) contributions, subject to certain limits.

What is the eligibility requirement to participate in Snap's 401(k) plan?

Employees at Snap are eligible to participate in the 401(k) plan after completing a specified period of service.

Can Snap employees choose their own contribution amount to the 401(k) plan?

Yes, Snap employees can choose their own contribution amount, within the limits set by the IRS.

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

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

How does Snap communicate changes to the 401(k) plan?

Snap communicates changes to the 401(k) plan through official employee communications, emails, and updates on the company intranet.

Is there a vesting schedule for Snap's 401(k) matching contributions?

Yes, Snap has a vesting schedule for its matching contributions, which means employees must work for a certain period to fully own the match.

Can Snap employees take loans against their 401(k) savings?

Yes, Snap allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

What happens to Snap employees' 401(k) accounts if they leave the company?

If Snap employees leave the company, they can choose to roll over their 401(k) balance to another retirement account or withdraw the funds, subject to tax implications.

Does Snap provide any financial education resources for employees regarding the 401(k) plan?

Yes, Snap offers financial education resources and workshops to help employees understand and maximize their 401(k) savings.

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

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