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Healthcare Provider Update: Offers group health insurance, including medical, dental, vision, and life insurance. Includes short/long-term disability, 401(k), and profit sharing. ACA planning encouraged for employees nearing retirement 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 Skechers U.S.A. 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 Skechers U.S.A. 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 Skechers U.S.A. employees who already put money away for college, the worksheet will take that amount into consideration. For Skechers U.S.A. 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 Skechers U.S.A. 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 Skechers U.S.A. offer to its employees?
Skechers U.S.A. offers a 401(k) retirement savings plan to its employees.
Is there a company match for contributions made to the 401(k) plan at Skechers U.S.A.?
Yes, Skechers U.S.A. provides a company match for eligible employee contributions to the 401(k) plan.
How can employees at Skechers U.S.A. enroll in the 401(k) plan?
Employees at Skechers U.S.A. can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What is the minimum age requirement to participate in the Skechers U.S.A. 401(k) plan?
The minimum age requirement to participate in the Skechers U.S.A. 401(k) plan is 21 years old.
How much can employees contribute to their 401(k) plans at Skechers U.S.A.?
Employees at Skechers U.S.A. can contribute up to the IRS limit for 401(k) contributions, which is adjusted annually.
Does Skechers U.S.A. offer any investment options within the 401(k) plan?
Yes, Skechers U.S.A. offers a variety of investment options within the 401(k) plan, including mutual funds and target-date funds.
Can employees at Skechers U.S.A. take loans against their 401(k) savings?
Yes, Skechers U.S.A. allows employees to take loans against their 401(k) savings under certain conditions.
What happens to the 401(k) plan if an employee leaves Skechers U.S.A.?
If an employee leaves Skechers U.S.A., they have several options for their 401(k) plan, including rolling it over to another retirement account or cashing it out.
Are there any fees associated with the Skechers U.S.A. 401(k) plan?
Yes, there may be administrative fees associated with the Skechers U.S.A. 401(k) plan, which are disclosed in the plan documents.
How often can employees at Skechers U.S.A. change their contribution amounts to the 401(k) plan?
Employees at Skechers U.S.A. can change their contribution amounts to the 401(k) plan at specified times, typically during open enrollment periods.
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