This report analyzes and compares TIAA-CREF's employee health insurance and employee benefits with its industry and in New York State.
Providing a smart employee benefits package is critical for attracting top talent and retaining valuable employees. Today, employee benefits play a vital role when candidates consider accepting a job offer.
Many companies offer today over-the-top perks, like yoga classes, haircuts, catered meals, and acupuncture. In this report, we focus however on traditional benefits. It's a work in progress that we will expand and update on a regular basis.
This report contains the following sections
Career benefits
TIAA-CREF has top-notch career benefits that have a great impact on employees' career. There are several coaching and mentoring programs, as well as onboarding program for new employees to help them fit in the TIAA-CREF. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: TIAA-CREF offers top-notch possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, TIAA-CREF makes sure that every single team member takes the full advantage of top-notch career planning programs.
- COACHING AND MENTORING: TIAA-CREF believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: TIAA-CREF offers superior development resources to enable its employees to grow on a personal and a professional plan. With access to superior intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: TIAA-CREF has an extraordinary GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: TIAA-CREF offers a wide variety of first-class courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by TIAA-CREF to grow as leaders and learn how to make tough calls.
- ONBOARDING: TIAA-CREF does not offer onboarding.
- RECOGNITION PROGRAMS: TIAA-CREF knows that dedicated team members are hard to come by so it has an excellent Recognition program for those who stand out and continually contribute to TIAA-CREF.
- TUITION REIMBURSEMENT: TIAA-CREF realizes that continuous education is a key to success so it has an impressive Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | TIAA-CREF | Industry | New York |
|---|---|---|---|
| Career planning Benefits | |||
| Coaching and mentoring Benefits | |||
| Development resources Benefits | |||
| GED reimbursement Benefits | |||
| Leadership programs Benefits | |||
| Onboarding Benefits | |||
| Recognition programs Benefits | |||
| Tuition reimbursement Benefits |
Healthcare benefits
TIAA-CREF offers remarkable health benefits to its employees, of which some can be used by employee's family members. Besides an affordable healthcare insurance and a dental plan that includes recounstruction surgery, team members can enjoy TIAA-CREF's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: TIAA-CREF is aware of the fact that its employees can sometimes experience stress at the workplace or have some other psychological issues. That's why TIAA-CREF implemented a good counseling program that helps team members during office hours. Employees can receive a psychological and emotional support during difficult periods of their time and learn how to effectively cope with stress. This good counseling program includes nutritional and fitness information as well.
- DENTAL PLAN: Team members at TIAA-CREF have a superb dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. TIAA-CREF partially pays for dentures and braces as well.
- HEALTH INSURANCE: TIAA-CREF provides an extraordinary health insurance plan that covers all sorts of medical expenses for employees and their families, including hospital stays and surgical procedures.
- HEALTH PLAN INCENTIVES: TIAA-CREF does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, TIAA-CREF offers a suitable healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, TIAA-CREF has created a superior maternity support program to support its expecting team members.
- TELEHEALTH: TIAA-CREF has a good telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. TIAA-CREF can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: TIAA-CREF provides a first-class Vision Plan covers all sorts of eye-related medical assistance for its team members, with an additional option for covering the costs of glasses and contact lenses.
Benefit | TIAA-CREF | Industry | New York |
|---|---|---|---|
| Counseling Benefits | |||
| Dental Plan Benefits | |||
| Health Insurance Benefits | |||
| Health Plan Incentives Benefits | |||
| Healthcare Spending Accounts Benefits | |||
| Maternity support program Benefits | |||
| Telehealth Benefits | |||
| Vision Plan Benefits |
Financial benefits
TIAA-CREF offers superior financial benefits for employees and their family members. A superior 401(k) plan makes sure that employees have a secure retirement, while a generous, fully paid parental leave allows expecting mothers and fathers to enjoy their child's first year. Along with paid vacations, employees can enjoy fully paid commuting as well.
- 401(K) PLAN: TIAA-CREF has an exceptional 401(k) plan is designed in such way that suitable team members can get the most out of it and enjoy many perks that come with it. For each employee's contribution of up to 6% of salary, TIAA-CREF offers an exceptional program that matches it 100%, which is among the highest matches on the market. This way, 401(k) is the best option for employees who want to have a financial stability in their late years. There is no vesting period, so the contributions are immediately for the employee to keep right from the start. For those who need help managing their 401(k) plan, TIAA-CREF offers individual financial consultations so that each employee can create a personalized investment plan.
- ADOPTION ASSISTANCE REIMBURSEMENT: TIAA-CREF has an extraordinary Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: TIAA-CREF offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for TIAA-CREF, and encourage others to do the same.
- CHILDCARE DISCOUNT: TIAA-CREF offers a valuable discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: TIAA-CREF offers excellent commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: TIAA-CREF offers an outstanding daycare program for its employees. Team members can withdraw funds from a flexible spending account to cover all sorts of expenses related to daycare or eldercare.
- DISABILITY: TIAA-CREF has a suitable disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a suitable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: TIAA-CREF offers a solid life insurance policy to its team members for an affordable price. TIAA-CREF participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
- PAID TIME OFF: TIAA-CREF realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why TIAA-CREF has a superior vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: TIAA-CREF recognizes the importance of giving back to the community so it offers a great volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by TIAA-CREF, on volunteer work of their choice.
- PARENTAL LEAVE: TIAA-CREF has a superior parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | TIAA-CREF | Industry | New York |
|---|---|---|---|
| 401(k) plan Benefits | |||
| Adoption assistance reimbursement Benefits | |||
| Bonus pay Benefits | |||
| Childcare discount Benefits | |||
| Commuter benefit Benefits | |||
| Daycare flexible spending account Benefits | |||
| Disability Benefits | |||
| Life insurance Benefits | |||
| Paid time off Benefits | |||
| Paid volunteer time off Benefits | |||
| Parental leave Benefits |
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