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 American National Group 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 American National Group 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 American National Group employees who already put money away for college, the worksheet will take that amount into consideration. For American National Group 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 American National Group employees to consider reviewing:
www.studentaid.ed.gov
The government’s college and financial aid portal.
Featured Video
Articles you may find interesting:
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
- 401K, Social Security, Pension – How to Maximize Your Options
- Have You Looked at Your 401(k) Plan Recently?
- 11 Questions You Should Ask Yourself When Planning for Retirement
- Worst Month of Layoffs In Over a Year!
www.collegeboard.org
The group that administers the SAT test.
Estimating the Cost of College
What type of retirement savings plan does American National Group offer to its employees?
American National Group offers a 401(k) retirement savings plan to its employees.
How can employees of American National Group enroll in the 401(k) plan?
Employees of American National Group can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
Does American National Group provide matching contributions to the 401(k) plan?
Yes, American National Group provides matching contributions to the 401(k) plan, subject to certain eligibility criteria.
What is the vesting schedule for employer contributions at American National Group?
The vesting schedule for employer contributions at American National Group typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a period of time.
Can employees take loans against their 401(k) plans at American National Group?
Yes, employees may have the option to take loans against their 401(k) plans at American National Group, subject to the plan's terms and conditions.
What investment options are available in the American National Group 401(k) plan?
The American National Group 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How often can employees change their contribution amounts to the 401(k) plan at American National Group?
Employees at American National Group can typically change their contribution amounts on a quarterly basis or as specified in the plan documents.
What is the minimum contribution percentage required for the 401(k) plan at American National Group?
The minimum contribution percentage for the 401(k) plan at American National Group is usually outlined in the plan documents, often starting at 1% or 2%.
Does American National Group allow employees to make catch-up contributions to their 401(k) plans?
Yes, American National Group allows eligible employees aged 50 and older to make catch-up contributions to their 401(k) plans.
What happens to an employee's 401(k) balance if they leave American National Group?
If an employee leaves American National Group, they can choose to roll over their 401(k) balance to another retirement account, cash out, or leave the funds in the plan if allowed.
-2.png?width=300&height=200&name=office-builing-main-lobby%20(52)-2.png)
.webp?width=300&height=200&name=office-builing-main-lobby%20(27).webp)
-2.png)
.webp)