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Healthcare Provider Update: Offers PPO and HDHP plans via Collective Health and Blue Shield of California, with additional options through Kaiser Permanente 10. As ACA subsidies phase out, Pures flexible plan options and employer HSA contributions provide financial protection against rising premiums. 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 Pure Storage 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 Pure Storage 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 Pure Storage employees who already put money away for college, the worksheet will take that amount into consideration. For Pure Storage 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 Pure Storage 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 Pure Storage offer to its employees?
Pure Storage offers a 401(k) retirement savings plan to help employees save for their future.
Does Pure Storage match employee contributions to the 401(k) plan?
Yes, Pure Storage provides a matching contribution to the 401(k) plan, which enhances employees' retirement savings.
What is the eligibility criteria for Pure Storage employees to participate in the 401(k) plan?
Most employees at Pure Storage are eligible to participate in the 401(k) plan after completing a specified period of employment.
Can employees at Pure Storage choose how to invest their 401(k) contributions?
Yes, employees at Pure Storage can choose from a variety of investment options within the 401(k) plan.
What is the maximum contribution limit for the Pure Storage 401(k) plan?
The maximum contribution limit for the Pure Storage 401(k) plan is in line with IRS guidelines, which may change annually.
Does Pure Storage allow employees to take loans against their 401(k) savings?
Yes, Pure Storage allows employees to take loans against their 401(k) savings, subject to certain terms and conditions.
What happens to my 401(k) balance if I leave Pure Storage?
If you leave Pure Storage, you can choose to roll over your 401(k) balance to another retirement account or withdraw it, subject to applicable taxes and penalties.
Is there a vesting schedule for the employer match in Pure Storage's 401(k) plan?
Yes, Pure Storage has a vesting schedule for the employer match, which means employees must work for a certain period to fully own the matched funds.
Can Pure Storage employees change their contribution percentage to the 401(k) plan?
Yes, employees at Pure Storage can change their contribution percentage at any time, subject to plan rules.
How often can employees at Pure Storage make changes to their investment allocations in the 401(k) plan?
Employees at Pure Storage can typically make changes to their investment allocations on a regular basis, often daily or monthly, depending on the plan provisions.
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