New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

Franklin Resources Employees: Unlock the Benefits of the Federal Student Grant Program for Your Family's Education

Healthcare Provider Update: Healthcare Provider for Franklin Resources Franklin Resources, Inc., commonly known as Franklin Templeton, typically collaborates with various healthcare providers depending on the specific needs of its employees and plans. While they do not publicly list a single healthcare provider, companies like Aetna, Cigna, and UnitedHealthcare often serve large corporations like Franklin Resources for group health insurance and benefits. Predicted Healthcare Cost Increases in 2026 for Franklin Resources As 2026 approaches, Franklin Resources faces significant challenges regarding healthcare costs. A perfect storm of factors is contributing to anticipated sharp increases in premiums, with some states expecting hikes over 60%. The looming expiration of enhanced federal premium subsidies will leave many policyholders exposing them to potential out-of-pocket cost increases of more than 75%. Meanwhile, coupled with a general uptick in medical costs-primarily due to inflation and rising demand for care-the financial burden on employees could become substantial moving forward. Organizations like Franklin must prepare both strategically and financially for this impending shift in the healthcare landscape. Click here to learn more

Most Franklin Resources 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 Franklin Resources 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 Franklin Resources employee could secure may surprise you.

Finder.com, 2019

StudentAid.gov, 2020

What retirement savings options does Franklin Resources offer to its employees?

Franklin Resources offers a 401(k) plan as part of its employee benefits package, allowing employees to save for retirement.

How does Franklin Resources match employee contributions to the 401(k) plan?

Franklin Resources provides a matching contribution to the 401(k) plan, typically matching a percentage of the employee's contributions up to a certain limit.

Can employees of Franklin Resources choose how to invest their 401(k) contributions?

Yes, employees at Franklin Resources can select from a variety of investment options within the 401(k) plan to tailor their retirement savings according to their risk tolerance and financial goals.

What is the eligibility requirement for Franklin Resources employees to participate in the 401(k) plan?

Employees of Franklin Resources are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically within their first year of employment.

Does Franklin Resources offer any educational resources for employees to learn about their 401(k) options?

Yes, Franklin Resources provides educational resources, including workshops and online tools, to help employees understand their 401(k) options and make informed investment decisions.

How can employees of Franklin Resources access their 401(k) account information?

Employees can access their 401(k) account information through the Franklin Resources employee portal or by contacting the plan administrator directly.

What types of contributions can employees make to the 401(k) plan at Franklin Resources?

Employees at Franklin Resources can make pre-tax contributions, Roth contributions, and possibly after-tax contributions, depending on the plan's provisions.

Is there a vesting schedule for the matching contributions made by Franklin Resources?

Yes, Franklin Resources typically has a vesting schedule for matching contributions, meaning employees must work for a certain period before they fully own those contributions.

Can employees take loans against their 401(k) balance at Franklin Resources?

Yes, Franklin Resources allows employees to take loans against their 401(k) balance, subject to the plan's rules and limits.

What happens to an employee's 401(k) plan if they leave Franklin Resources?

If an employee leaves Franklin Resources, they can choose to roll over their 401(k) balance into an IRA or a new employer's retirement plan, or they can cash out, subject to taxes and penalties.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

In 2024, Franklin Resources announced a major restructuring plan that includes significant layoffs across various departments. The company is also revising its pension plan, which will impact future retirees. Furthermore, changes to the 401(k) matching contributions are expected.