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Healthcare Provider Update: Offers a Health and Welfare Benefits Plan with multiple medical options including PPOs and HSAs. Coverage includes medical, dental, vision, prescription drugs, and COBRA continuation. ACA-related planning is emphasized for early retirees, with guidance to evaluate ACA marketplace options due to projected 2026 premium hikes Click here to learn more
As a Terex 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 Terex 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 Terex 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 purpose of Terex's 401(k) Savings Plan?
The purpose of Terex's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can Terex employees enroll in the 401(k) Savings Plan?
Terex employees can enroll in the 401(k) Savings Plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
What types of contributions can Terex employees make to the 401(k) Savings Plan?
Terex employees can make pre-tax contributions, Roth (after-tax) contributions, and may also be eligible for employer matching contributions.
Is there a company match for contributions to Terex's 401(k) Savings Plan?
Yes, Terex offers a company match for employee contributions to the 401(k) Savings Plan, subject to certain limits and conditions.
What is the vesting schedule for Terex's 401(k) employer match?
The vesting schedule for Terex's 401(k) employer match typically follows a graded vesting schedule, where employees earn rights to the employer contributions over a specified period.
At what age can Terex employees start withdrawing from their 401(k) Savings Plan?
Terex employees can generally start withdrawing from their 401(k) Savings Plan at age 59½, although there are specific conditions and penalties for early withdrawals.
Can Terex employees take loans against their 401(k) Savings Plan?
Yes, Terex allows employees to take loans against their 401(k) Savings Plan, subject to the plan's terms and conditions.
How often can Terex employees change their contribution percentage to the 401(k) Savings Plan?
Terex employees can typically change their contribution percentage to the 401(k) Savings Plan at any time, subject to the plan's rules.
What investment options are available in Terex's 401(k) Savings Plan?
Terex'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.
How can Terex employees access their 401(k) account information?
Terex employees can access their 401(k) account information through the company’s online portal or by contacting the plan administrator for assistance.
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