Our employees are our most valuable assets at Northwestern Mutual. The work they do and the innovation they provide keep us on top of the financial industry. Northwestern Mutual is committed to an employee benefit program that provides employees and retirees with a high level of financial security. To reach this goal, we provide a fiscally sound benefit program that protects employees and their immediate families in the case of illness or injury, in the case of the employee's death or disability or when the employee retires.
We recognize that a basic benefits package isn't enough. Employees expect more and Northwestern Mutual delivers. Our employees feel secure, protected by a strong network of benefits.
Working at Northwestern Mutual offers a highly competitive base pay and receive periodic salary reviews. In addition, most employees are eligible for "Variable Pay"—a performance-based bonus program.
Northwestern Mutual employees select from a variety of medical, dental and vision plans through our MutualChoice medical program. These benefits are effective on the employee's first day of employment.
Flexible Spending Accounts are also available to home office employees. Flexible Spending Accounts allow employees to set aside pre-tax dollars for eligible health care expenses, such as deductibles, office visits, prescription co-payments, eyeglasses and contact lenses. Flexible Spending Accounts can also be created for dependent care expenses such as childcare costs, before- and after-school care, and elder care.
The question isn't whether to save for retirement, but how. Northwestern Mutual offers several means for its employees to prepare for the future.
401k Employee Savings Plan
From the first day of employment, all regular, full-time and part-time employees are eligible to participate in the 401k Employee Savings Plan. It is an excellent retirement and financial planning vehicle.
Employees may contribute 1-25% of their eligible compensation to the plan through payroll deduction. The Company then contributes an additional 50 cents per dollar up to the first 6% of an employee's contribution each pay period. Employees are fully vested in the Company contribution after completing one year of employment.
A number of investment options are offered to employees. The plan carries a loan provision and is governed by the Internal Revenue Service.
Northwestern Mutual understands the importance of financial security, which is why its pension plan is recognized as one of the best, offering a higher level of benefits than the plans of many other companies.
The pension plan is funded entirely through employer contributions, and all regular full-time and part-time employees are eligible. Pension benefits are dependent upon salary and years of service.
Just as our employees have a commitment to help Northwestern Mutual grow, we are committed to helping them grow, both as individuals and in their careers.
Northwestern Mutual offers several programs, opportunities and resources to help employees advance their careers.
Certificate Programs, Life Office Management Association (LOMA) Program.
Personal and Professional Development
In-house Training and Management Development Programs, Courses and Seminars, Tuition Reimbursement Program.
Motivated employees are the best employees. We know it's important to give employees something to work for, a reason to come to work beyond just a paycheck. Northwestern Mutual is committed to recognizing employees for their outstanding efforts. Whether it's a promotion, a raise or a simple "thank you," we make sure that our employees know how valuable they are to the Company, and that we appreciate the work they do.
Career development and advancement are promoted at Northwestern Mutual through the internal job posting program and ongoing training opportunities.
Northwestern Mutual recognizes that money isn't everything these days. Employees want to achieve a healthy balance between work and life. Northwestern Mutual strives to support this effort by offering its employees additional life-enhancing extras:
- Generous holiday and vacation allowances, Flexible work schedules, business casual work environment
- Life and disability income insurance, adoption assistance, home purchase program, college scholarship program
- Discounts on items such as bus passes, cellular phones, leisure travel, special events, pre-tax commuter programs
- Employee Assistance Program, Life Works family resource program
- Onsite credit union, dry cleaning, film developing, and shipping service; onsite store offering an assortment of snacks and drinks; baked goods available for purchase to take home at the end of the day
- Onsite fitness center and health clinic
- Cyber Cafe where you enjoy free high-speed Internet access for your personal use
- Northwestern Mutual special interest clubs
Benefits listed above apply to regular full-time opportunities. Benefits will vary depending upon employment category (part-time, long-term temporary, etc.).