Healthcare Provider Update: StoneX provides health insurance, cafeteria perks, and job training, though details on specific providers are limited 6. With ACA premiums expected to rise sharply, StoneXs internal coverage may offer more stability, especially for employees with dependents. Click here to learn more
Preparing for retirement at StoneX Group 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 StoneX Group 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 StoneX Group. Do you have clear, defined goals for what you want your retirement to look like? And do you know where your StoneX Group retirement accounts stand today? Being proactive with your StoneX Group 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 StoneX Group offer to its employees?
StoneX Group offers a 401(k) retirement plan to help employees save for their future.
How can employees at StoneX Group enroll in the 401(k) plan?
Employees can enroll in the StoneX Group 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does StoneX Group match employee contributions to the 401(k) plan?
Yes, StoneX Group offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the maximum contribution limit for the StoneX Group 401(k) plan?
The maximum contribution limit for the StoneX Group 401(k) plan follows the IRS guidelines, which are updated annually.
Can employees at StoneX Group take loans against their 401(k) savings?
Yes, StoneX Group allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.
Are there any fees associated with the StoneX Group 401(k) plan?
Yes, there may be administrative fees associated with the StoneX Group 401(k) plan, which are disclosed in the plan documents.
What investment options are available in the StoneX Group 401(k) plan?
The StoneX Group 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds.
When can employees at StoneX Group start withdrawing from their 401(k) plan?
Employees can typically start withdrawing from their StoneX Group 401(k) plan at age 59½, subject to certain conditions.
Does StoneX Group provide educational resources about the 401(k) plan?
Yes, StoneX Group offers educational resources and workshops to help employees understand their 401(k) plan options and investment strategies.
How often can employees at StoneX Group change their 401(k) contribution amounts?
Employees at StoneX Group can change their 401(k) contribution amounts at any time, typically during open enrollment periods or as specified in the plan.