04-11-2017 12:19 PM
USAA Raises Minimum Pay to $16 per hour, Expands Parental Leave
Other benefits include annual bonus, health insurance discounts and generous time off policies
SAN ANTONIO – USAA is making two major changes to its employee benefit package in 2017.
Effective since Feb. 5, employees at USAA have seen their minimum pay rise to $16 per hour, or more than $33,000 per year. This increase doesn’t reflect overtime or eligibility for the annual bonus also available to all USAA employees.
Additionally, the financial services provider announced recently it would begin offering a new parental benefit to provide all eligible new parents with up to 12 weeks of full pay when a child joins the family either by birth or adoption beginning July 2017. This is in addition to any other leave or wage replacement benefits USAA already offers, such as vacation time and short-term disability.
“These expanded benefits are about creating conditions for our entire team’s success,” said Mark Reid, USAA executive vice president for human resources. “This helps USAA to bring in and keep a talented and diverse group of people who feel their best, while they fulfill a noble mission – serving our members and each other.”
Beyond wages, USAA offers a wide range of benefits to all employees in all areas of the organization. The most notable benefits include:
- Eligibility for an annual bonus – 16.8 percent for 2016 performance
- Holiday bonus equal to two weeks of pay
- Matching 401(k) plan contribution of dollar for dollar up to eight percent
- Annual retirement savings plan contribution of between 3% and 9%, no employee contributions required
- Reduced premiums for health insurance for engaging in healthy behaviors, like eating well, exercising and taking preventative health care actions
- Access to free onsite fitness/health centers and fitness premium reimbursement if offsite
- Up to $10,000 a year in tuition assistance to pursue any degrees, regardless of level or field of study
- Generous time off policy, including 16 hours a year for volunteering with organizations of their choice
- Healthy food discount of 50 percent at USAA cafeterias
- Flexible work environment – growing number of home-based employees and work from home options when life’s challenges occur
USAA has long been recognized for its service and for being a great place to work. USAA routinely shows up on third-party lists including FORTUNE 100 Best Companies to Work For® and the Gallup Great Workplace Award. In addition, USAA was recognized as one of the Ethisphere Institute’s World’s Most Ethical Companies®, as well as a FORTUNE Best Workplace for Financial Services® and FORTUNE 50 Best Workplaces for Diversity®.
More on careers and benefits at USAA is available at www.usaajobs.com/about-usaa.
The USAA family of companies provides insurance, banking, investments, retirement products and advice to 12 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
Contact: Matt Hartwig