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Healthcare Provider Update: Healthcare Provider for Performance Food Group Performance Food Group (PFG) collaborates with Vizient, Inc., a leading healthcare performance improvement company, to enhance its healthcare solutions for its employees. Vizient serves a significant portion of acute care providers and assists healthcare organizations in achieving cost-effective care and operational excellence. Potential Healthcare Cost Increases in 2026 As the healthcare landscape evolves, significant increases in costs are anticipated for 2026, particularly for consumers utilizing Affordable Care Act (ACA) plans. With potential hikes in premiums exceeding 60% in some states, the expiration of enhanced federal subsidies could leave over 22 million marketplace enrollees facing out-of-pocket premium increases of more than 75%. This scenario, compounded by rising medical costs and substantial profit margins reported by major insurers, signals a challenging economic environment for healthcare consumers in the upcoming year. Addressing these anticipated changes early will be critical for both individuals and businesses to mitigate potential financial burdens. Click here to learn more
Most Performance Food Group 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 Performance Food Group 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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- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
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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 Performance Food Group employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What type of retirement plan does Performance Food Group offer to its employees?
Performance Food Group offers a 401(k) retirement savings plan to its employees.
Does Performance Food Group match employee contributions to the 401(k) plan?
Yes, Performance Food Group provides a matching contribution to employee contributions made to the 401(k) plan, subject to certain limits.
What is the eligibility requirement to participate in the Performance Food Group 401(k) plan?
Employees of Performance Food Group are eligible to participate in the 401(k) plan after completing a specific period of service, typically outlined in the plan documents.
Can employees of Performance Food Group choose how their 401(k) contributions are invested?
Yes, employees can choose from a variety of investment options available within the Performance Food Group 401(k) plan.
How can employees of Performance Food Group enroll in the 401(k) plan?
Employees can enroll in the Performance Food Group 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.
What is the maximum contribution limit for the Performance Food Group 401(k) plan?
The maximum contribution limit for the Performance Food Group 401(k) plan is in line with IRS guidelines, which may change annually.
Does Performance Food Group offer a Roth 401(k) option?
Yes, Performance Food Group offers a Roth 401(k) option, allowing employees to make after-tax contributions to their retirement savings.
Are there any fees associated with the Performance Food Group 401(k) plan?
Yes, there may be administrative and investment fees associated with the Performance Food Group 401(k) plan, which are disclosed in the plan documents.
When can employees of Performance Food Group access their 401(k) funds?
Employees can access their 401(k) funds upon reaching retirement age, or in cases of hardship, termination of employment, or other qualifying events as defined by the plan.
How often can employees change their contribution percentage in the Performance Food Group 401(k) plan?
Employees can change their contribution percentage at designated times throughout the year, as specified in the Performance Food Group 401(k) plan guidelines.
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