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Healthcare Provider Update: Offers fully subsidized healthcare for employees and dependents, including mental health support and international emergency travel coverage5. As ACA costs surge, Airbnbs generous benefits eliminate out-of-pocket premium concerns, making it a standout in healthcare affordability. Click here to learn more
It doesn’t take a degree in finance to see the cost of college continues to rise.
In its 2017 report, the College Board showed that public four-year institutions raised prices an average of 3.2% annually between the 2007-08 and 2017-18 school years. Put another way, a $5,000 education in 2007-08 would cost $6,851 in 2017-18.
For a few families, the lion’s share of education costs falls on parents and, in some cases, on grandparents. For our Airbnb clients who are parents you may already know, generally, the majority of families rely on a combination of scholarships, grants, financial aid, part-time jobs, and parent support to help pay the cost.
For Airbnb employees who have children approaching college age, a good first step is estimating the potential costs. The accompanying worksheet can help you get a better idea about the cost of a four-year college.
For Airbnb employees who already put money away for college, the worksheet will take that amount into consideration. For Airbnb employees who haven’t, it’s never too late to start.
Resources
There are a number of resources that can help individuals prepare for college. The U.S. government distributes certain information on colleges and costs. Here are two sites for these Airbnb employees to consider reviewing:
www.studentaid.ed.gov
The government’s college and financial aid portal.
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www.collegeboard.org
The group that administers the SAT test.
Estimating the Cost of College
What type of retirement savings plan does Airbnb offer to its employees?
Airbnb offers a 401(k) retirement savings plan to its employees.
Does Airbnb match employee contributions to the 401(k) plan?
Yes, Airbnb provides a matching contribution to the 401(k) plan, helping employees maximize their retirement savings.
What is the eligibility requirement for employees to participate in Airbnb's 401(k) plan?
Employees at Airbnb are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.
Can Airbnb employees choose how their 401(k) contributions are invested?
Yes, Airbnb employees can choose from a variety of investment options for their 401(k) contributions based on their individual risk tolerance and retirement goals.
What is the contribution limit for Airbnb employees who participate in the 401(k) plan?
The contribution limit for Airbnb employees is set according to IRS guidelines, which may change annually. Employees should check the current limit for the year.
Does Airbnb allow employees to take loans against their 401(k) savings?
Yes, Airbnb allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan.
What happens to an Airbnb employee's 401(k) if they leave the company?
If an Airbnb employee leaves the company, they can roll over their 401(k) balance to another retirement account or leave it in the Airbnb plan, depending on the balance and company policies.
Are there any fees associated with managing the 401(k) plan at Airbnb?
Yes, Airbnb's 401(k) plan may have administrative fees and investment-related fees, which are disclosed to employees in the plan documents.
How often can Airbnb employees change their 401(k) contribution amounts?
Airbnb employees can change their 401(k) contribution amounts during designated enrollment periods or as allowed by the plan throughout the year.
Is there a vesting schedule for the employer match in Airbnb's 401(k) plan?
Yes, Airbnb has a vesting schedule for the employer match, meaning employees must work for a certain period before they fully own the matched contributions.
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