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Healthcare Provider Update: Offers medical, dental, and vision insurance, plus vacation discounts, wellness programs, and a minimum wage of $14/hour 7. As ACA subsidies expire, Suns internal coverage and perks help employees maintain affordability and access to care. 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 Sun Communities 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 Sun Communities 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.
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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 Sun Communities 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 plan does Sun Communities offer to its employees?
Sun Communities offers a 401(k) retirement savings plan to help employees save for their future.
Does Sun Communities match employee contributions to the 401(k) plan?
Yes, Sun Communities provides a matching contribution to the 401(k) plan, helping employees maximize their retirement savings.
What is the eligibility requirement for Sun Communities employees to participate in the 401(k) plan?
Employees of Sun Communities 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 Sun Communities employees enroll in the 401(k) plan?
Sun Communities employees can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What investment options are available in the Sun Communities 401(k) plan?
The Sun Communities 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
Can Sun Communities employees change their contribution percentage to the 401(k) plan?
Yes, employees at Sun Communities can change their contribution percentage at any time, subject to certain restrictions.
Is there a vesting schedule for the employer match in the Sun Communities 401(k) plan?
Yes, Sun Communities has a vesting schedule for employer matching contributions, which means employees must work for a certain period to fully own those contributions.
What is the maximum contribution limit for the Sun Communities 401(k) plan?
The maximum contribution limit for the Sun Communities 401(k) plan follows the IRS guidelines, which are updated annually.
Are there any fees associated with the Sun Communities 401(k) plan?
Yes, like most 401(k) plans, the Sun Communities 401(k) plan may have administrative and investment fees, which are disclosed in the plan documents.
Can Sun Communities employees take loans against their 401(k) savings?
Yes, Sun Communities allows employees to take loans against their 401(k) savings, subject to the plan’s terms and conditions.
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