Beyond Salary: 7 Top Employee Benefits

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Imagine this: You have two job offers with similar salaries and potential career growth. Which one should you take?

The answer may depend on the other benefits on the table.

Many employers offer more than a salary and health insurance. No matter your current situation, make sure you’re aware of a company’s potential perks, and more importantly, make sure you’re taking advantage of them.

Here are seven benefits to know:

1. Matching retirement contributions — Many employers will match some portion of your contribution toward your 401(k) or 403(b) plan. This is basically free money, so be sure to take advantage of it.

2. Flexible savings accounts — These accounts allow you to put aside pretax money to pay for qualified expenses such as medication, child care or parking.

3. Group life insurance — You might be offered access to supplemental insurance. The payout varies, but it usually equals one year’s salary.

4. Student loan assistance — Today’s typical college graduate accrues thousands of dollars in debt. Knowing this, many employers who want to attract new talent now offer college debt repayment as a benefit.

5. Continuing education and training programs — Both employers and employees benefit when new skills are learned. Check to see if your employer offers a continuing education stipend.

6. Parental leave — A handful of states have passed legislation to require paid family leave. Additionally, more employers are offering paid maternity and paternity leave.

7. Vacation time and gym memberships — Both are linked to increased worker productivity. Be sure to use all your paid time off and check to see if monthly gym memberships are a reimbursable expense.

Have questions? Reach out anytime to discuss your long-term goals and to make sure you’re making the most of your earnings.

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