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Empowering Women at PC Connection: 4 Essential Retirement Strategies to Consider

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Preparing for retirement at PC Connection 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 PC Connection 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 PC Connection. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your PC Connection retirement accounts stand today? Being proactive with your PC Connection 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 plan does PC Connection offer to its employees?

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

When can employees at PC Connection enroll in the 401(k) plan?

Employees at PC Connection can enroll in the 401(k) plan during the initial enrollment period or during the annual open enrollment period.

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

Yes, PC Connection offers a matching contribution to employee contributions up to a certain percentage.

What is the vesting schedule for employer contributions at PC Connection?

The vesting schedule for employer contributions at PC Connection typically follows a graded vesting schedule over a period of years.

How can employees at PC Connection access their 401(k) account information?

Employees at PC Connection can access their 401(k) account information through the company's designated retirement plan website or portal.

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

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

Can employees at PC Connection take loans against their 401(k) savings?

Yes, employees at PC Connection may be able to take loans against their 401(k) savings, subject to specific plan rules.

What is the minimum contribution percentage required for employees at PC Connection to participate in the 401(k) plan?

The minimum contribution percentage required for employees at PC Connection to participate in the 401(k) plan is typically set at 1% of their salary.

Are there any penalties for withdrawing funds from the PC Connection 401(k) plan before retirement age?

Yes, there are generally penalties for withdrawing funds from the PC Connection 401(k) plan before reaching retirement age, unless certain conditions are met.

How often can employees at PC Connection change their contribution amount to the 401(k) plan?

Employees at PC Connection can change their contribution amount during the annual open enrollment period or as permitted by the plan.

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

In 2024, PC Connection announced a restructuring plan that involves a reduction of approximately 5% of its workforce. The company also revised its 401(k) matching contributions, reducing the match percentage from 6% to 4%. This restructuring is part of a broader strategy to streamline operations and focus on high-growth areas.