Company Performance Metrics
Workforce Perks provides a service to employers to take their existing ‘match’ budget and allow employees to direct a % to their 401K and a % to pay-down their student loan.
For example, let’s say you match contributions up to 4% with immediate vesting… dollar for dollar up to 3% and 1/2% for each whole percent to the full 4% (9% total).
Jim
makes $60,000 base per year. He elects to max out his match and allocates 5% of his salary ($3,000) to his 401k. Your company matches Jim’s contribution at 4% ($2,400).
Without Workforce Perks... Jim’s annual contribution to his 401k plan is $5,400 ($450 per month). Bravo Jim!
But Jim has $28,000 in student loan debt which he pays $3,600 annually ($300 per month).
30 years from now, Jim may dig his decision but he’ll be dealing with student loan payments for at least the next 10 years.
With Workforce Perks... You give Jim an option that he’s never had before. A choice in his financial future that could help him save 30% over the lifetime of his student loan. This option doesn’t cost more than 2 cups of coffee per month. Jim’s worth at least that much, right?
