Healthcare Provider Update: Kelly Services offers ACA-compliant health coverage to eligible employees, along with optional plans for dental, vision, life, disability, and critical illness. Benefits include telemedicine, wellness support, legal counseling, and student loan assistance. Employees also have access to retirement plans and corporate discounts. Coverage is customizable for employees, spouses, and dependents 5. Kelly Services With ACA insurers requesting premium hikes of up to 66% in some states, Kellys flexible benefit options and ACA-compliant plans help employees maintain affordable coverage and avoid costly marketplace alternatives. 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 Kelly Services 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 Kelly Services 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 Kelly Services employees who already put money away for college, the worksheet will take that amount into consideration. For Kelly Services 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 Kelly Services 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 plan does Kelly Services offer to its employees?
Kelly Services offers a 401(k) retirement savings plan to help employees save for their future.
How can I enroll in the Kelly Services 401(k) plan?
Employees can enroll in the Kelly Services 401(k) plan by visiting the company’s benefits portal or contacting the HR department for assistance.
Does Kelly Services match contributions to the 401(k) plan?
Yes, Kelly Services provides a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the eligibility requirement to participate in the Kelly Services 401(k) plan?
Employees of Kelly Services are typically eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the plan documents.
What investment options are available in the Kelly Services 401(k) plan?
The Kelly Services 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.
Can I take a loan against my 401(k) plan with Kelly Services?
Yes, Kelly Services allows employees to take loans against their 401(k) balances, subject to the plan’s terms and conditions.
What is the vesting schedule for the Kelly Services 401(k) matching contributions?
The vesting schedule for Kelly Services 401(k) matching contributions varies, so employees should refer to the plan documents for specific details.
How often can I change my contribution amount to the Kelly Services 401(k) plan?
Employees can change their contribution amount to the Kelly Services 401(k) plan at any time, typically through the benefits portal.
What happens to my 401(k) plan if I leave Kelly Services?
If you leave Kelly Services, you can choose to roll over your 401(k) balance to another retirement account, withdraw the funds, or leave the balance in the Kelly Services plan if allowed.
Does Kelly Services offer financial education resources for 401(k) participants?
Yes, Kelly Services provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.