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Empowering Women at Old Republic International: 4 Essential Retirement Strategies to Consider

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Preparing for retirement at Old Republic International 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 Old Republic International 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 Old Republic International. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your Old Republic International retirement accounts stand today? Being proactive with your Old Republic International 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 is the 401(k) plan offered by Old Republic International?

The 401(k) plan at Old Republic International is a retirement savings plan that allows employees to save a portion of their salary on a pre-tax basis, helping them build a nest egg for retirement.

How does Old Republic International match employee contributions to the 401(k) plan?

Old Republic International offers a company match on employee contributions, which means that for every dollar an employee contributes, the company will match a certain percentage, up to a specified limit.

What are the eligibility requirements for Old Republic International's 401(k) plan?

Employees at Old Republic International typically become eligible for the 401(k) plan after completing a specified period of service, usually within the first year of employment.

Can employees of Old Republic International change their contribution rates to the 401(k) plan?

Yes, employees of Old Republic International can change their contribution rates to the 401(k) plan at designated times throughout the year.

What investment options are available in Old Republic International's 401(k) plan?

The 401(k) plan at Old Republic International offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

Is there a vesting schedule for the employer match in Old Republic International's 401(k) plan?

Yes, Old Republic International has a vesting schedule that determines when employees fully own the employer contributions made to their 401(k) accounts.

How can employees of Old Republic International enroll in the 401(k) plan?

Employees can enroll in the 401(k) plan at Old Republic International by completing the necessary enrollment forms, which are typically available through the HR department or the company’s benefits portal.

What is the maximum contribution limit for Old Republic International's 401(k) plan?

The maximum contribution limit for Old Republic International's 401(k) plan is subject to IRS regulations, which may change annually. Employees should check the latest guidelines for the current limit.

Does Old Republic International offer a Roth 401(k) option?

Yes, Old Republic International offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

What happens to my 401(k) savings if I leave Old Republic International?

If you leave Old Republic International, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the Old Republic International plan if permitted.