Healthcare Provider Update: Offers multiple High Deductible Health Plans (HDHPs) through UnitedHealthcare, with HSA contributions, dental (MetLife), vision, and wellness programs 1. As ACA premiums rise and subsidies expire, Energizers HDHPs with HSA support offer a tax-advantaged way to manage healthcare costs, especially for employees with predictable medical needs. 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 Energizer Holdings 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 Energizer Holdings 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 Energizer Holdings employees who already put money away for college, the worksheet will take that amount into consideration. For Energizer Holdings 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 Energizer Holdings 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 Energizer Holdings offer to its employees?
Energizer Holdings offers a 401(k) retirement savings plan to its employees.
Does Energizer Holdings provide a company match for contributions made to the 401(k) plan?
Yes, Energizer Holdings provides a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions.
What is the eligibility requirement to participate in the Energizer Holdings 401(k) plan?
Employees of Energizer Holdings are typically eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.
Can employees of Energizer Holdings choose how their 401(k) contributions are invested?
Yes, employees at Energizer Holdings can choose from a variety of investment options for their 401(k) contributions.
How does Energizer Holdings ensure that employees are informed about their 401(k) plan options?
Energizer Holdings provides educational materials, workshops, and access to financial advisors to help employees understand their 401(k) plan options.
Is there a vesting schedule for the company match in the Energizer Holdings 401(k) plan?
Yes, there is a vesting schedule for the company match in the Energizer Holdings 401(k) plan, which determines how much of the match employees are entitled to based on their years of service.
What is the maximum contribution limit for the Energizer Holdings 401(k) plan?
The maximum contribution limit for the Energizer Holdings 401(k) plan is in line with IRS guidelines, which may change annually.
Can employees of Energizer Holdings take loans against their 401(k) accounts?
Yes, Energizer Holdings allows employees to take loans against their 401(k) accounts under certain conditions outlined in the plan.
What happens to an employee's 401(k) account if they leave Energizer Holdings?
If an employee leaves Energizer Holdings, they have several options for their 401(k) account, including cashing out, rolling it over to another retirement account, or leaving it in the Energizer Holdings plan if allowed.
Does Energizer Holdings offer any resources for retirement planning?
Yes, Energizer Holdings provides resources and tools for retirement planning, including access to financial advisors and online calculators.
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