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
- Flexibility is the future of employee financial wellness benefits
- Bill aims to boost access to work retirement plans for millions of Americans
- A new era of advisor support for caregiving
- Millennial Dilemma: Home ownership or retirement security?
- How OBBBA is a once-in-a-career window
More Advisor NewsAnnuity News
- 2025 Top 5 Annuity Stories: Lawsuits, layoffs and Brighthouse sale rumors
- An Application for the Trademark “DYNAMIC RETIREMENT MANAGER” Has Been Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
- Product understanding will drive the future of insurance
- Prudential launches FlexGuard 2.0 RILA
- Lincoln Financial Introduces First Capital Group ETF Strategy for Fixed Indexed Annuities
More Annuity NewsHealth/Employee Benefits News
Property and Casualty News
- TOP DEMOCRATS ON ENVIRONMENT, FINANCE, AND BANKING COMMITTEES LAUNCH INVESTIGATION INTO INSURANCE RATING COMPANY DEMOTECH, EVALUATIONS OF INSURER FINANCIAL STABILITY AMID GROWING CLIMATE RISK
- It’s the most accident-prone time of the year
- PUBLIC INVITED TO REVIEW FLOOD MAPS IN FRANKLIN COUNTY
- $100,000 insurance policy required for ‘dangerous dog’ owners in Redlands
- Beyond the house: Insuring your deck, fence, and detached garage
More Property and Casualty News