/General/General%204.png?width=1280&height=853&name=General%204.png)
Healthcare Provider Update: Healthcare Provider for Archer Daniels Midland (ADM) Archer Daniels Midland primarily partners with Aetna as its healthcare provider for offering employee health benefits. This arrangement aids in delivering comprehensive health insurance coverage for its employees, ensuring access to necessary medical services. Potential Healthcare Cost Increases in 2026 Archer Daniels Midland employees may face notable increases in healthcare costs in 2026 as the Affordable Care Act (ACA) marketplace anticipates significant premium hikes. With projections indicating that some states may see increases surpassing 60%, many employees could see their out-of-pocket expenses soar, particularly if enhanced federal subsidies expire. Consequently, financial pressures may prompt ADM to adjust its employee benefit structures, potentially leading to higher deductibles and out-of-pocket maximums, thereby making it crucial for employees to evaluate their healthcare options and budgeting strategies early. Click here to learn more
Most Archer Daniels Midland employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Archer Daniels Midland employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
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!
No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Archer Daniels Midland employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the Archer Daniels Midland 401(k) plan?
The Archer Daniels Midland 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.
How does Archer Daniels Midland match employee contributions to the 401(k) plan?
Archer Daniels Midland provides a matching contribution to the 401(k) plan, typically matching a percentage of employee contributions up to a certain limit.
What types of investment options are available in the Archer Daniels Midland 401(k) plan?
The Archer Daniels Midland 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock.
When can employees at Archer Daniels Midland start contributing to the 401(k) plan?
Employees at Archer Daniels Midland can start contributing to the 401(k) plan after completing a specified period of employment, usually within the first few months.
Is there a limit to how much I can contribute to the Archer Daniels Midland 401(k) plan?
Yes, the IRS sets annual contribution limits for 401(k) plans, and Archer Daniels Midland adheres to these limits.
Can I take a loan against my 401(k) plan at Archer Daniels Midland?
Yes, Archer Daniels Midland allows employees to take loans against their 401(k) savings, subject to certain conditions and limits.
What happens to my Archer Daniels Midland 401(k) account if I leave the company?
If you leave Archer Daniels Midland, you can choose to roll over your 401(k) account to another retirement plan, cash it out, or leave it with Archer Daniels Midland.
Does Archer Daniels Midland offer financial education resources for 401(k) participants?
Yes, Archer Daniels Midland provides financial education resources, including workshops and online tools, to help employees make informed decisions about their 401(k) savings.
How often can I change my investment options in the Archer Daniels Midland 401(k) plan?
Employees can typically change their investment options in the Archer Daniels Midland 401(k) plan at any time, subject to the plans specific rules.
Are there any fees associated with the Archer Daniels Midland 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Archer Daniels Midland 401(k) plan, which are disclosed in the plan documents.
Importance: This could signify a shift in the workforce structure, impacting job stability and service continuity amid economic uncertainties.
-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)