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Healthcare Provider Update: Uses Blue Cross Blue Shield for health insurance, along with dental, vision, and disability coverage 7. Rising ACA premiums could make BlueLinxs group coverage more appealing, especially for employees with dependents.. Click here to learn more
The world of investing is very subjective--the investment plan that’s right for you depends largely upon the level of comfort that you have when it comes to risk. We'd like our clients from BlueLinx Holdings to remember that you can’t completely avoid risk when it comes to investing, but it's possible for you to manage it.
There are two aspects of risk tolerance for BlueLinx Holdings employees to consider: (1) the capacity of your investment plan itself to absorb losses, and (2) how comfortable you are personally with risk. The first aspect can be quantified--the more flexibility your investment plan has when it comes to potential loss, the more risk your plan can tolerate. For example, as we’ve discussed, a long investment time horizon may allow you to take on more risk than a short time horizon.
| 'You can’t completely avoid risk when it comes to investing, but it is possible for you to manage it..' |
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The second aspect, how comfortable you are personally with risk, is more of an emotional measure, and depends on many factors, including your objectives, life stage, personality, and investment experience. Some investors are comfortable with a high degree of risk, while others can tolerate only minimal risk. Individual risk tolerance is an important factor for BlueLinx Holdings employees in deciding which individual investments are appropriate for them, as well as how their investment dollars should be allocated among different investment classes.
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Investors are typically grouped into three categories for purposes of discussing risk tolerance: aggressive (those who have a high degree of risk tolerance); moderate (those willing to accept some degree of risk), and conservative (those who are risk averse).
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.
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