Unum has a very competitive time off program. In their first year with the company, full-time employees receive 28 days of PTO, including holidays and personal days, with additional PTO available over time. Almost half of Unum employees carry over unused PTO each year. This program provides an additional benefit option in how they use that time.
Student loan debt crosses all generations. "Around 30% of our workforce carries student loan debt – either their own, for a child or a family member, and monthly payments can leave employees struggling to contribute to savings goals," said Carl Gagnon, assistant vice president, global financial wellbeing at Unum. "This first-of-its-kind program, along with a range of other benefits and resources, provides our employees tools to help reduce stress, build financial foundations, and improve overall well-being."
Generous PTO, student debt repayment options and other financial planning resources are regularly at the top of U.S. workers' wish lists. With student loan debt tripling over the past decade, studies suggest that rising debt is hurting employees' focus at work and their retirement planning.
"The option to use this student debt relief program has been a big deal to help pay down my loans even faster," said Jimmy Valentine, professional development program associate, and one of the 427 Unum employees who took advantage of this benefit this year. "I'm definitely taking advantage of this program again this year."
Additional financial benefits for Unum employees include a generous 401(k) with company match, an additional core 4.5% defined contribution plan retirement savings contribution, one-on-one financial advice through Ameriprise, online investment and financial modeling tools and an employee stock purchase plan.
About Unum
Unum Group provides a broad portfolio of financial protection benefits and services through the workplace, and is the leading provider of disability income protection worldwide. Through its Unum US, Unum UK, Unum Poland, and Colonial Life businesses, the company provides disability, life, accident, critical illness, dental and vision benefits that protect millions of working people and their families. Unum also provides leave and absence management services that streamline the leave experience for employers and employees, and stop-loss coverage to help self-insured employers protect against medical costs. Unum reported revenues of $12 billion in 2019 and paid $7.5 billion in benefits.
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About Fidelity
Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $7.1 trillion, including managed assets of $2.5 trillion as of November 30, 2018, we focus on meeting the unique needs of a diverse set of customers: helping more than 28 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 13,000 financial advisory firms with investment and technology solutions to invest their own clients' money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.
SOURCE Unum Group
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