MINNEAPOLIS – July 15, 2020 – In an effort to help its employees save for their own retirement, Allianz Life Insurance Company of North America has announced a new benefit that will help employees with personal student loan debt save for retirement through the company 401(k) program.
This new program, which launched July 1, will assist employees whose student loan payments may limit them from contributing enough to the company 401(k) program in order to earn the full 7.5% company contribution. To help ensure employees don’t miss out on the available company contribution because of student loan burden, the company will assess an employee’s personal student loan payments, and determine how much the company will contribute to their 401(k) account, up to the full contribution of 7.5% of eligible pay.
“As a company, we are committed to helping people secure their future and plan for retirement, and that should start with our own employees,” said Jenny Guldseth, chief human resources officer, Allianz Life. “We know that student loan debt is a significant issue, one that often delays saving for retirement. Being able to address this matter head-on as a part of our overall benefits package is important to us and our employees.”
Other Allianz Life benefits available to employees include medical coverage, the unique True Balance health and wellness program, career and professional development, and a range of onsite amenities including fitness center, child development center, two cafeterias, dry cleaning, and shipping/postal services.
Life Insurance Activity Rises Again In June, MIB Reports
COVID-19 Money Woes Push Americans To Tap Retirement Cash
Advisor News
- DOL proposes new independent contractor rule; industry is ‘encouraged’
- Trump proposes retirement savings plan for Americans without one
- Millennials seek trusted financial advice as they build and inherit wealth
- NAIFA: Financial professionals are essential to the success of Trump Accounts
- Changes, personalization impacting retirement plans for 2026
More Advisor NewsAnnuity News
- F&G joins Voya’s annuity platform
- Regulators ponder how to tamp down annuity illustrations as high as 27%
- Annual annuity reviews: leverage them to keep clients engaged
- Symetra Enhances Fixed Indexed Annuities, Introduces New Franklin Large Cap Value 15% ER Index
- Ancient Financial Launches as a Strategic Asset Management and Reinsurance Holding Company, Announces Agreement to Acquire F&G Life Re Ltd.
More Annuity NewsHealth/Employee Benefits News
- After enhanced Obamacare health insurance subsidies expire, the effects are starting to show
- CommunityCare: Your Local Medicare Resource
- AG warns Tennesseans about unlicensed insurance seller
- GOVERNOR HOCHUL LAUNCHES PUBLIC AWARENESS CAMPAIGN TO EDUCATE NEW YORKERS ON ACCESS TO BEHAVIORAL HEALTH TREATMENT
- Researchers from Pennsylvania State University (Penn State) College of Medicine and Milton S. Hershey Medical Center Detail Findings in Aortic Dissection [Health Insurance Payor Type as a Predictor of Clinical Presentation and Mortality in …]: Cardiovascular Diseases and Conditions – Aortic Dissection
More Health/Employee Benefits NewsProperty and Casualty News
- Should credit shape pricing?
Virginia bills say credit shouldn't be factor in auto insurance
- Florida Bar Board seeking applicants. To make appointments in May
- Multiple family members arraigned in coordinated auto insurance fraud scheme
- Virginia lawmakers consider removing credit as factor in auto insurance
- 2026 insurance satisfaction survey: How Gen Z, Millennials, Gen X and Boomers compare
More Property and Casualty News