/General/General%209.png?width=1280&height=853&name=General%209.png)
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 Sanderson Farms 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 Sanderson Farms 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 Sanderson Farms employees who already put money away for college, the worksheet will take that amount into consideration. For Sanderson Farms 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 Sanderson Farms 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 is the primary purpose of the 401(k) plan offered by Sanderson Farms?
The primary purpose of the 401(k) plan at Sanderson Farms is to help employees save for retirement by providing a tax-advantaged savings option.
Does Sanderson Farms match employee contributions to the 401(k) plan?
Yes, Sanderson Farms offers a matching contribution to employee 401(k) accounts, which helps to enhance retirement savings.
What types of contributions can employees make to the Sanderson Farms 401(k) plan?
Employees at Sanderson Farms can make pre-tax contributions, Roth contributions, and possibly after-tax contributions, depending on the plan's provisions.
How can employees enroll in the Sanderson Farms 401(k) plan?
Employees can enroll in the Sanderson Farms 401(k) plan by completing the enrollment process through the company’s HR portal or by speaking with a benefits representative.
What is the vesting schedule for employer contributions in the Sanderson Farms 401(k) plan?
The vesting schedule for employer contributions at Sanderson Farms typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a set period.
Can Sanderson Farms employees take loans against their 401(k) savings?
Yes, Sanderson Farms allows employees to take loans against their 401(k) savings, subject to certain terms and conditions outlined in the plan.
What investment options are available in the Sanderson Farms 401(k) plan?
The Sanderson Farms 401(k) plan offers a range of investment options, including mutual funds, target-date funds, and possibly company stock, allowing employees to diversify their portfolios.
Is there a minimum contribution requirement for the Sanderson Farms 401(k) plan?
Yes, Sanderson Farms may have a minimum contribution requirement for employees participating in the 401(k) plan, which is typically communicated during the enrollment process.
How often can Sanderson Farms employees change their contribution amounts to the 401(k) plan?
Employees at Sanderson Farms can typically change their contribution amounts to the 401(k) plan on a quarterly basis or as specified in the plan guidelines.
What happens to my Sanderson Farms 401(k) if I leave the company?
If you leave Sanderson Farms, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Sanderson Farms 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)