WALTHAM, Mass., Aug. 5, 2019/PRNewswire/ – With 45 million Americans holding student loans of more than $1.5 trillion, workers are frequently burdened with long periods of significant regularly scheduled installments. Pay off student loans back these advances frequently means deferring putting something aside for retirement.
Raytheon is declaring another program to enable workers to put something aside for retirement while reimbursing their understudy credits. Through the Raytheon Student Loan Repayment Contribution, qualified workers who aren’t ready to make student loan reimbursements and add to their 401(k) can get an organization coordinating commitment (3 or 4 percent relying upon long stretches of administration), if their student loan reimbursements arrive at the level of the organization coordinate for which they’re qualified.
“We are continually looking for inventive approaches to offer aggressive pay and advantages to present and planned workers,” said Mike Bull, VP of Total Rewards at Raytheon Company. “Being an incredible work environment with similarly extraordinary advantages is the thing that causes us to draw in, spur and hold our most significant resource: our representatives.”
Through the 401(k), called the Raytheon Savings and Investment Plan, the organization will make a dollar for dollar commitment for sums workers spend reimbursing their understudy credits, up to their greatest match rate. The program advantages will start to collect in 2020 with organization commitments stored in workers’ 401(k) accounts in the primary quarter of 2021 and the years following.
Other particular advantages include:
- Adaptable work courses of action, including each other Friday off
- Parental leave for moms and fathers
- No handicap sitting tight period for new representatives going on maternity leave
- Advantages forward with Autism
- Far-reaching prizes and acknowledgment programs