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Understanding Risk Tolerance: A Guide for Mercury General Employees Navigating Retirement Changes

Healthcare Provider Update: Offers medical, dental, vision, life insurance, and HSAs/FSAs, with up to 95% employer coverage depending on the plan3. As ACA subsidies phase out, Mercurys generous employer contributions and comprehensive benefits may shield employees from the financial impact of rising premiums. 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 Mercury General 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 Mercury General 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 Mercury General 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 Mercury General offer to its employees?

Mercury General offers a 401(k) retirement savings plan to its employees.

Is the 401(k) plan at Mercury General available to all employees?

Yes, the 401(k) plan at Mercury General is available to all eligible employees.

What is the employer match policy for the 401(k) plan at Mercury General?

Mercury General provides a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions, up to a certain limit.

How can employees at Mercury General enroll in the 401(k) plan?

Employees at Mercury General can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What are the contribution limits for the 401(k) plan at Mercury General?

The contribution limits for the 401(k) plan at Mercury General follow the IRS guidelines, which are updated annually.

Does Mercury General offer a Roth 401(k) option?

Yes, Mercury General offers a Roth 401(k) option, allowing employees to contribute after-tax dollars.

Can employees at Mercury General take loans against their 401(k) savings?

Yes, Mercury General allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

What investment options are available in the Mercury General 401(k) plan?

The Mercury General 401(k) plan includes a variety of investment options, such as mutual funds, stocks, and bonds.

How often can employees at Mercury General change their 401(k) contribution amounts?

Employees at Mercury General can change their 401(k) contribution amounts at any time, subject to plan rules.

What happens to my 401(k) balance if I leave Mercury General?

If you leave Mercury General, you can choose to roll over your 401(k) balance to another retirement account, cash it out, or leave it in the plan if eligible.

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

Pension Plan Name: Mercury General does not offer a traditional defined benefit pension plan. The company primarily focuses on offering a 401(k) plan to its employees. 401(k) Plan Name: Mercury General Corporation 401(k) Plan Eligibility: Employees are eligible to participate in the Mercury General Corporation 401(k) Plan after completing 30 days of service. The plan is available to full-time employees. Company Match: Mercury General provides a matching contribution to the 401(k) plan, though specifics about the match percentage may vary based on the company’s policies and plan documents.

Restructuring and Layoffs: In 2023, Mercury General announced a significant restructuring plan aimed at streamlining operations and improving efficiency. This move was driven by the need to adapt to changing market conditions and the economic environment. The restructuring included layoffs in several departments, with a focus on reducing operational costs and reallocating resources to more strategic areas. The company's management emphasized that these changes were necessary to enhance competitiveness and long-term sustainability. The impact of these layoffs on employees and the broader organizational structure is a key concern amid current economic uncertainties.

Description: Mercury General's 2022 annual report details the stock options and RSUs offered to employees. Stock options are generally available to executives and key employees, while RSUs may be granted to a broader range of employees based on performance.

Benefits Overview: Offers a comprehensive benefits package including medical, dental, and vision insurance. They provide health savings accounts (HSAs), flexible spending accounts (FSAs), and wellness programs. Medical Plans: Includes PPO and HMO plans. Employees can choose between different levels of coverage based on their needs. Wellness Programs: Includes access to fitness resources, mental health support, and preventive care programs.