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Healthcare Provider Update: Atmos Energy offers medical, dental, and vision insurance through Blue Cross Blue Shield of Texas, along with HSAs, FSAs, and telemedicine via MDLIVE 1. With ACA premiums projected to rise by 1518% and subsidies set to expire, Atmoss employer-sponsored plans provide a stable and cost-effective alternative to marketplace coverage. Click here to learn more
Most Atmos Energy 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 Atmos Energy 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
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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 Atmos Energy employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the Atmos Energy 401(k) plan?
The Atmos Energy 401(k) plan is a retirement savings plan that allows employees to save a portion of their salary on a tax-deferred basis.
How can I enroll in the Atmos Energy 401(k) plan?
You can enroll in the Atmos Energy 401(k) plan by accessing the employee portal and completing the online enrollment process.
Does Atmos Energy match contributions to the 401(k) plan?
Yes, Atmos Energy offers a matching contribution to the 401(k) plan, which helps employees increase their retirement savings.
What is the maximum contribution I can make to the Atmos Energy 401(k) plan?
The maximum contribution limit is determined by IRS guidelines, and Atmos Energy follows these limits, which may change annually.
When can I start contributing to the Atmos Energy 401(k) plan?
Employees at Atmos Energy can start contributing to the 401(k) plan after they have completed their eligibility requirements, typically within the first few months of employment.
What investment options are available in the Atmos Energy 401(k) plan?
The Atmos Energy 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.
How can I change my contribution percentage in the Atmos Energy 401(k) plan?
You can change your contribution percentage by logging into the employee portal and updating your 401(k) settings.
Is there a vesting schedule for Atmos Energy's matching contributions?
Yes, Atmos Energy has a vesting schedule for matching contributions, which means you will earn ownership of those contributions over time.
Can I take a loan from my Atmos Energy 401(k) plan?
Yes, Atmos Energy allows employees to take loans from their 401(k) accounts under certain conditions outlined in the plan.
What happens to my Atmos Energy 401(k) if I leave the company?
If you leave Atmos Energy, you have several options for your 401(k) funds, including rolling them over to another retirement account, cashing out, or leaving them in the Atmos Energy plan if permitted.
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