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

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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 Patterson 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 Patterson 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 Patterson 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 primary purpose of Patterson's 401(k) Savings Plan?

The primary purpose of Patterson's 401(k) Savings Plan is to help employees save for retirement by providing a tax-advantaged way to invest a portion of their income.

How does Patterson match employee contributions to the 401(k) plan?

Patterson matches employee contributions to the 401(k) plan up to a certain percentage of their salary, enhancing the overall savings potential for employees.

When can employees at Patterson enroll in the 401(k) Savings Plan?

Employees at Patterson can enroll in the 401(k) Savings Plan during their initial onboarding period or during the annual open enrollment period.

What types of investment options are available in Patterson's 401(k) Savings Plan?

Patterson's 401(k) Savings Plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.

Can employees at Patterson take loans against their 401(k) Savings Plan?

Yes, employees at Patterson may have the option to take loans against their 401(k) Savings Plan, subject to specific terms and conditions.

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

Employees at Patterson can access their 401(k) account information online through the plan's dedicated portal or by contacting the plan administrator.

What happens to the 401(k) Savings Plan if an employee leaves Patterson?

If an employee leaves Patterson, they have several options regarding their 401(k) Savings Plan, including rolling it over to another retirement account or leaving it in the plan.

Does Patterson offer a Roth 401(k) option within its Savings Plan?

Yes, Patterson offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.

Are there any fees associated with Patterson's 401(k) Savings Plan?

Yes, Patterson's 401(k) Savings Plan may have certain administrative fees, which are disclosed in the plan documents provided to employees.

How often can employees at Patterson change their contribution amounts to the 401(k) plan?

Employees at Patterson can change their contribution amounts to the 401(k) plan during the annual open enrollment period or at any time as permitted by the plan.