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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 The Walt Disney Company 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 The Walt Disney Company 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 The Walt Disney Company employees who already put money away for college, the worksheet will take that amount into consideration. For The Walt Disney Company 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 The Walt Disney Company 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 The Walt Disney Company offer to its employees?
The Walt Disney Company offers a 401(k) savings plan to help employees save for retirement.
Does The Walt Disney Company match employee contributions to the 401(k) plan?
Yes, The Walt Disney Company provides a matching contribution to employee 401(k) accounts, subject to certain limits.
What is the eligibility requirement for The Walt Disney Company's 401(k) plan?
Employees of The Walt Disney Company are generally eligible to participate in the 401(k) plan after completing a specified period of service.
Can employees of The Walt Disney Company choose how their 401(k) contributions are invested?
Yes, employees can select from a variety of investment options for their 401(k) contributions through The Walt Disney Company's plan.
What is the maximum employee contribution limit for The Walt Disney Company's 401(k) plan?
The maximum employee contribution limit for The Walt Disney Company's 401(k) plan aligns with the IRS annual contribution limits, which may change each year.
Are there any fees associated with The Walt Disney Company's 401(k) plan?
Yes, The Walt Disney Company's 401(k) plan may have certain administrative fees, which are disclosed in the plan documents.
Can employees of The Walt Disney Company take loans against their 401(k) savings?
Yes, The Walt Disney Company's 401(k) plan allows eligible employees to take loans against their account balance under specific conditions.
What happens to my 401(k) savings if I leave The Walt Disney Company?
If you leave The Walt Disney Company, you can choose to roll over your 401(k) savings to another retirement account, leave it in the plan, or withdraw it, subject to tax implications.
Does The Walt Disney Company provide financial education resources for its 401(k) plan participants?
Yes, The Walt Disney Company offers financial education resources and tools to help employees make informed decisions about their 401(k) savings.
How can employees of The Walt Disney Company access their 401(k) account information?
Employees can access their 401(k) account information through the online portal provided by The Walt Disney Company's plan administrator.
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