Unpack Your Benefits Package: Understanding benefits

Employers offer a range of benefits packages. Find out how to maximize benefit packages and understand your benefits

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Understanding your benefits

Your benefits package is an important part of your financial well being. Solarity is here to help to unpack the perks that may be available to you.
The most common benefit is health insurance. Know when you qualify, who is eligible, the cost of premiums, and the types of coverage offered.
Paid vacation and sick leave are other common benefits. We all can use a vacation or maybe one or two “sick days”…
Time off is usually accrued on a monthly basis. It’s important to know your rate of accrual and if it rolls over each year. The longer you stay, the more you can earn.
It’s never too early – or too late — to think about retirement. Find out when you become eligible and if the company matches your contributions. It may take a few years to become vested, so know the terms before you leave.
You may also be eligible for other types of insurance. These policies will give you peace of mind because you never know when you might need a helping hand.
Some companies offer stock options. These programs let you buy company shares at low rates.
The longer you stay, the more options you have.
Most companies have waiting periods for purchasing and selling shares. You never know, your stocks could pay for that private island in Fiji.
Flexible spending accounts allow you to set aside money before it is taxed to use for medical expenses, child care and more. These accounts have contribution limits, but help to decrease your taxable income. Every little bit helps.
Solarity Credit Union makes extraordinary experiences a reality for our members, employees and communities. Orange you glad Solarity thinks outside the box?

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