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Healthcare Provider Update: Offers several Cigna medical plans, along with dental, vision, HSAs/FSAs, and paid parental leave3. As ACA subsidies expire, Taylor Morrisons robust benefits packageincluding preventive care and adoption assistanceprovides financial stability and broader coverage than ACA plans. Click here to learn more
Most Taylor Morrison Home 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 Taylor Morrison Home 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 Taylor Morrison Home employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the 401(k) plan offered by Taylor Morrison Home?
The 401(k) plan at Taylor Morrison Home is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.
How can I enroll in the 401(k) plan at Taylor Morrison Home?
Employees can enroll in the 401(k) plan at Taylor Morrison Home by completing the enrollment process through the company’s benefits portal or by contacting the HR department for assistance.
What is the employer match for the 401(k) plan at Taylor Morrison Home?
Taylor Morrison Home offers a competitive employer match for the 401(k) plan, which typically matches a percentage of employee contributions up to a certain limit.
Are there any eligibility requirements to participate in Taylor Morrison Home's 401(k) plan?
Yes, employees must meet specific eligibility criteria, such as being a full-time employee and completing a certain period of service, to participate in Taylor Morrison Home's 401(k) plan.
What types of investment options are available in the Taylor Morrison Home 401(k) plan?
The 401(k) plan at Taylor Morrison Home offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees grow their retirement savings.
Can I take a loan from my 401(k) plan at Taylor Morrison Home?
Yes, Taylor Morrison Home allows employees to take loans from their 401(k) plan, subject to specific terms and conditions outlined in the plan documents.
How often can I change my contribution amount to the 401(k) plan at Taylor Morrison Home?
Employees at Taylor Morrison Home can change their contribution amount to the 401(k) plan at any time, typically through the benefits portal or by contacting HR.
What happens to my 401(k) if I leave Taylor Morrison Home?
If you leave Taylor Morrison Home, you have several options for your 401(k), including rolling it over to an IRA or a new employer’s plan, cashing it out, or leaving it with Taylor Morrison Home.
Is there a vesting schedule for the employer match in Taylor Morrison Home's 401(k) plan?
Yes, Taylor Morrison Home has a vesting schedule for the employer match, which means that employees must work for a certain number of years before they fully own the matched funds.
Can I contribute to my 401(k) plan at Taylor Morrison Home if I am also contributing to an IRA?
Yes, employees can contribute to both a 401(k) plan at Taylor Morrison Home and an IRA, as long as they adhere to the contribution limits set by the IRS.
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