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Empowering Women at BlueLinx Holdings: 4 Essential Retirement Strategies to Consider

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Preparing for retirement at BlueLinx Holdings can look a little different for women than it does for men. Although stereotypes are changing, women are still more likely to serve as caretakers than men are, meaning they may accumulate less income and benefits due to their time absent from the workforce. Research shows that 31% of women are currently or have been caregivers during their careers. Women who are working also tend to put less money aside for retirement. According to one report, women contribute 30% less to their retirement accounts than men.

These numbers may seem overwhelming, but you don’t have to be a statistic. With a little foresight, you can start taking steps now, which may help you in the long run. Here are three steps to consider that may put BlueLinx Holdings employees ahead of the curve.

Talk about money. Nowadays, discussing money is less taboo than it’s been in the past, and it’s crucial to take control of your financial future. If you’re single, consider writing down your retirement goals and keeping them readily accessible. If you have a partner, make sure you are both on the same page regarding your retirement goals. The more comfortably you can talk about your future, the more confident you may be to make important decisions when they come up.
Be proactive about your retirement after BlueLinx Holdings. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your BlueLinx Holdings retirement accounts stand today? Being proactive with your BlueLinx Holdings retirement accounts allows you to create a goal-oriented roadmap. It may also help to adapt when necessary and continue their journey regardless of things like relationship status or market fluctuations.

Make room for your future in your budget. Adjust your budget to allow for retirement savings, just as you would for a new home or your dream vacation. Like any of your other financial goals, you may find it beneficial to review your retirement goals on a regular basis to make sure you’re on track.

Retirement may look a little different for women, but with the right strategies – and support – you’ll be able to live the retirement you’ve always dreamed of.

Transamerica.com, 2021

GAO.gov, 2021

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What type of retirement savings plan does BlueLinx Holdings offer to its employees?

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

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

Yes, BlueLinx Holdings provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.

What is the eligibility requirement for employees to participate in the BlueLinx Holdings 401(k) plan?

Employees of BlueLinx Holdings are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

How can employees of BlueLinx Holdings enroll in the 401(k) plan?

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

What investment options are available in the BlueLinx Holdings 401(k) plan?

The BlueLinx Holdings 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can employees of BlueLinx Holdings take loans against their 401(k) savings?

Yes, BlueLinx Holdings allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What is the vesting schedule for the employer contributions in the BlueLinx Holdings 401(k) plan?

The vesting schedule for employer contributions in the BlueLinx Holdings 401(k) plan typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a period of time.

How often can employees change their contribution amount to the BlueLinx Holdings 401(k) plan?

Employees can change their contribution amount to the BlueLinx Holdings 401(k) plan at any time, subject to the plan’s guidelines.

What resources does BlueLinx Holdings provide to help employees manage their 401(k) investments?

BlueLinx Holdings provides educational resources, including workshops and online tools, to help employees manage their 401(k) investments effectively.

Is there a minimum contribution requirement for the BlueLinx Holdings 401(k) plan?

Yes, BlueLinx Holdings may have a minimum contribution requirement for employees participating in the 401(k) plan, which is outlined in the plan documents.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

BlueLinx Holdings has announced a significant restructuring plan, including layoffs of 10% of its workforce and a reduction in benefits to cut costs amid declining market demand.

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For more information you can reach the plan administrator for BlueLinx Holdings at 4300 Wildwood Pkwy Atlanta, GA 30339; or by calling them at +1 770-953-7000.