New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Understanding Risk Tolerance: A Guide for ITT Employees Navigating Retirement Changes

Healthcare Provider Update: Healthcare Provider for ITT ITT is associated with multiple healthcare insurance providers, depending on the region and specific employees' enrollment in plans. However, a notable mention is UnitedHealthcare, which provides comprehensive healthcare options to many ITT employees. Potential Healthcare Cost Increases in 2026 As the Affordable Care Act (ACA) marketplace braces for substantial healthcare premium hikes in 2026, ITT employees may find themselves facing increased financial burdens. With insurers predicting average increases of approximately 20%, some states could see hikes exceeding 60%, primarily driven by high medical costs and the potential expiration of enhanced federal subsidies. Analysts estimate that without these subsidies, most enrollees-around 92%-could see their out-of-pocket costs surge by over 75%, emphasizing the critical need for ITT employees to assess their healthcare options and prepare for these impending financial changes., 'sources': [], 'images': [] 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 ITT 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 ITT 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..'

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 ITT 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 is the ITT 401(k) Savings Plan?

The ITT 401(k) Savings Plan is a retirement savings plan that allows eligible employees of ITT to save and invest a portion of their paycheck before taxes are withheld.

How can I enroll in the ITT 401(k) Savings Plan?

You can enroll in the ITT 401(k) Savings Plan by accessing the employee benefits portal or contacting the HR department for assistance with the enrollment process.

What are the eligibility requirements for the ITT 401(k) Savings Plan?

To be eligible for the ITT 401(k) Savings Plan, you must be a regular full-time or part-time employee of ITT and meet any additional criteria set by the plan.

Does ITT match contributions to the 401(k) Savings Plan?

Yes, ITT offers a matching contribution to the 401(k) Savings Plan, which helps employees increase their retirement savings.

What is the maximum contribution limit for the ITT 401(k) Savings Plan?

The maximum contribution limit for the ITT 401(k) Savings Plan is determined by the IRS and may change annually. Please refer to the plan documents for the current limit.

Can I change my contribution percentage to the ITT 401(k) Savings Plan?

Yes, you can change your contribution percentage to the ITT 401(k) Savings Plan at any time by submitting a request through the employee benefits portal.

What investment options are available in the ITT 401(k) Savings Plan?

The ITT 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles. You can choose based on your risk tolerance and retirement goals.

When can I access my funds from the ITT 401(k) Savings Plan?

You can access your funds from the ITT 401(k) Savings Plan upon reaching retirement age, or if you experience a qualifying event such as termination of employment or financial hardship.

What happens to my ITT 401(k) Savings Plan if I leave the company?

If you leave ITT, you can choose to roll over your 401(k) balance to another retirement account, cash out your balance (subject to taxes and penalties), or leave it in the ITT plan if allowed.

Are loans available through the ITT 401(k) Savings Plan?

Yes, the ITT 401(k) Savings Plan may allow participants to take loans against their account balance, subject to certain conditions and limits.

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

Plan Name: ITT Pension Plan Years of Service and Age Qualification: Employees generally need to have a minimum number of years of service and reach a certain age to qualify for the pension plan. Specifics vary, but typically, ITT requires employees to reach age 65 and have at least 5 years of service. Pension Formula: The formula often used by ITT for pension calculations includes factors such as years of service and average salary over a specified period. Plan Name: ITT 401(k) Savings Plan Qualifications: Generally, employees who are at least 21 years old and have completed 1 year of service are eligible to participate in the 401(k) plan. Contributions can be made pre-tax, and ITT may provide matching contributions up to a certain percentage of the employee’s salary.

Restructuring and Layoffs: In 2023, ITT announced a significant restructuring plan aimed at streamlining its operations and improving efficiency. The company revealed that it would be laying off approximately 7% of its global workforce as part of this initiative. This decision is part of a broader strategy to enhance ITT's competitive position in a challenging market. The restructuring is expected to help ITT better align its resources with strategic priorities and reduce operational costs. Importance: Given the current economic and investment climate, ITT's restructuring and layoffs are crucial to monitor. Companies undergoing such changes may face significant shifts in their financial health, which can impact stock performance and investor confidence. Additionally, the broader economic environment and evolving tax policies could influence how these adjustments affect ITT's overall performance and strategic direction.

Stock Options and RSUs Available: Apple Inc. (AAPL) offers stock options and RSUs as part of its employee compensation package. Stock options are granted based on performance and role within the company, while RSUs are typically awarded to key employees and executives as part of long-term incentives. Specifics for 2022, 2023, and 2024: In 2022, Apple Inc. (AAPL) continued to offer stock options with a vesting period of four years and RSUs with a vesting period of three to four years. For 2023, the company maintained similar stock option and RSU structures, with some adjustments for new hires. In 2024, Apple Inc. (AAPL) introduced performance-based RSUs in addition to the standard offerings.

Health Benefits Overview: ITT provides comprehensive health benefits including medical, dental, and vision insurance. Their plans often include preventive care, hospitalization, prescription drug coverage, and wellness programs. Acronyms and Terms: Commonly used terms include PPO (Preferred Provider Organization), HSA (Health Savings Account), and EAP (Employee Assistance Program).