Healthcare Provider Update: Roku offers comprehensive health insurance benefits including medical, dental, vision, life, and disability coverage. Employees receive an annual stipend that typically covers the full cost of health insurance premiums, making coverage effectively $0 out-of-pocket for most staff 1. As ACA premiums are projected to rise by 1518% in 2026 and subsidies may expire, Rokus fully subsidized health plans provide a strong financial advantage, shielding employees from the volatility and cost increases expected in the individual marketplace. Click here to learn more
Most Roku 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 Roku 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 Roku employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What type of retirement savings plan does Roku offer to its employees?
Roku offers a 401(k) retirement savings plan to help employees save for their future.
Does Roku match employee contributions to the 401(k) plan?
Yes, Roku provides a matching contribution to employee 401(k) accounts, subject to specific terms and conditions.
What is the vesting schedule for Roku's 401(k) matching contributions?
Employees at Roku typically vest in the company’s matching contributions over a specified period, which is detailed in the plan documents.
Can Roku employees choose how to invest their 401(k) contributions?
Yes, Roku employees can select from a variety of investment options within the 401(k) plan to align with their retirement goals.
What is the minimum age for Roku employees to participate in the 401(k) plan?
Employees at Roku can participate in the 401(k) plan as soon as they meet the eligibility requirements, which typically include being at least 18 years old.
How often can Roku employees change their 401(k) contribution amounts?
Roku employees can change their 401(k) contribution amounts at regular intervals, usually once per pay period or as specified in the plan guidelines.
Is there a limit to how much Roku employees can contribute to their 401(k) plan each year?
Yes, Roku employees must adhere to the annual contribution limits set by the IRS for 401(k) plans.
Does Roku provide educational resources for employees to help them understand their 401(k) options?
Yes, Roku offers educational resources and tools to assist employees in making informed decisions about their 401(k) investments.
What happens to a Roku employee's 401(k) if they leave the company?
Upon leaving Roku, employees have several options for their 401(k), including rolling it over to another retirement account or leaving it in the Roku plan, depending on the plan rules.
Can Roku employees take loans against their 401(k) savings?
Yes, Roku allows employees to take loans from their 401(k) accounts under certain conditions outlined in the plan.
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