Human Resources Competitive Pay I Opportunities for Growth I Quality Benefits Benefits package Effective 1/1/2019 Securian Financial’s success is the direct result of the hard work and dedication of our associates. We reward hard work with competitive compensation and benefits that will help provide financial security now and into the future. Securian Financial is proud to offer you an extensive total package of opportunities for growth along with quality benefits to help make your life and work more enjoyable and rewarding. Your comprehensive benefits package enhances your cash compensation by an estimated 40 percent. Attached is a summary of our benefit plans – more information will be available your first week at Securian Financial.
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Human Resources
Competitive Pay I Opportunities for Growth I Quality Benefits
Benefits package Effective 1/1/2019
Securian Financial’s success is the direct result of the hard work and dedication of our associates. We reward hard work with competitive compensation and benefits that will help provide financial security now and into the future.
Securian Financial is proud to offer you an extensive total package of opportunities for growth along with quality benefits to help make your life and work more enjoyable and rewarding.
Your comprehensive benefits package enhances your cash compensation by an estimated 40 percent.
Attached is a summary of our benefit plans – more information will be available your first week at Securian Financial.
General Information Your benefit choices Your benefit choices are based on your employment status.
• Full-time benefits: Full-time employment status • Part-time Enhanced benefits: Part-time employment status 30-39 hours per week • Part-time Base benefits: Part-time employment status 20-29 hours per week
If eligible, you can cover your dependents too. Generally, that includes:
• Your spouse • Your children or stepchildren, to age 26 • Your dependent grandchildren to age 26 for whom you provide over one-half of their support
Please note, dependent verification is needed within the first 31 days to cover your dependent(s).
When your benefits begin You receive some benefits automatically, however for medical, dental, and vision plans, tax advantage accounts, and other benefits, you need to enroll within 31 days of your hire date. If you miss it, your next opportunity is annual enrollment the next fall, unless you have a life event that allows you to make changes mid-year. Your coverage will be effective on your date of hire unless you indicate the first of the following month. Forms are available on the welcome page if you would like to complete them prior to your 1st day. Don’t worry, if you do not complete your forms prior to your first day you will have up to 31 days from your hire date to complete them and can still have your coverage effective as of your date of hire!
We are here for you! We are available now and throughout your onboarding experience. It doesn’t matter if you are new to benefits or a veteran at enrolling in benefits, the HR Benefits team is here to help answer your questions. Also, during your first week you can participate in a scheduled one hour session with an HR Benefit Specialist. During the session, we will dig deep into how Securian Financial’s benefit package works and answer any questions that might have surfaced after reading this material.
The HR Benefits team can be reached via email at [email protected] or by phone at 651-665-4796
Reminders: • Benefits can start your first day, if forms are received by HR within 31 days of hire
o If you complete your forms prior to your start date, send them to 19-4796 during your first week • This document is a brief summary of your benefits,
o On your second day, a more detail benefits guide will be sent to you via email • Questions after reading the information below, please contact [email protected]
Medical Coverage Eligibility: Full-time, Part-time Enhanced and Base
The Company offers two medical plans, a Preferred Provider Organization (PPO) and a High Deductible Health Plan (HDHP). Both health plan options are administered by HealthPartners and offer a comparable range of coverage and quality services. The key differences in the plans are when and how you pay for healthcare. Take some time to understand how each plan works, you may find a plan more convenient for your personal situation or preference.
You and your family will have nationwide health insurance coverage with both plans. We know how critical your primary care physician is to your overall health. Confirm your provider is in-network at www.healthpartners.com/securian
Coverage will be effective on your date of hire or the first of the following month as long as forms are received by HR within 31 days of hire. The following plans are available to you:
Preferred Provider Organization (PPO) The PPO is a plan with a lower deductible and higher monthly premiums. A PPO plan can be combined with a medical flexible spending account, which allows you to pay for certain medical expenses with pre-tax dollars within the plan year.
High Deductible Health Plan (HDHP) The HDHP is a plan with lower-premiums and higher deductible, which means you pay less out-of-pocket each month for premiums and more at the point of care (medical and pharmacy) before the plan pays for services that are not considered preventive.
The HDHP will be combined with a Health Savings Account (HSA), which allows you to pay for certain medical expenses with pre-tax dollars, and any unused account balance rolls over from year to year. Securian Financial will make a contribution to your HSA account, and you will have the opportunity to add additional savings via pre-tax payroll deduction.
Medical Premiums
The Company pays approximately 70 to 75 percent of the cost of medical premiums. Listed below are associates’ monthly premium rates. Premiums are taken on your second paycheck of the month.
Coverage Level PPO HDHP Associate only $134.00 $87.00
A retiree medical benefit is available to each associate who is eligible to retire from Securian Financial under the terms of the DB pension plan. In general, Securian Financial’s contribution amount towards your retiree medical premiums will bedetermined based on your years of participation in the DB pension plan. Securian Financial will credit $1,200 for each year of participation you complete. In addition, the entire amount will earn three percent interest annually. This determines the total Company contribution amount, which can be used to help offset the cost of retiree medical premiums for medical plans offered by Securian Financial.
Coverage Level PPO HDHP Associate Only $268.00 $174.00
Frequent Fitness Eligibility: associate enrolled in a Securian Financial medical plan If you are enrolled in a Securian Financial medical plan, you can save money at your favorite gym. Working out 12 days a month will save you up to $20 on your monthly gym membership. Wellness Program Eligibility: all associates Securing Your Health is designed to help you make informed decisions about being active, eating wisely and maintaining a healthy lifestyle. With confidential resources at your fingertips you will be able to access information to help guide you to the best you!
Dental Coverage Eligibility: Full-time, Part-time Enhanced and Base New associates are eligible to enroll in the Company's dental plan, which is administered by Delta Dental. Your coverage would be effective on your date of hire. The Company pays approximately 50% of each associate’s dental insurance premium.
Vision Coverage Eligibility: Full-time, Part-time Enhanced and Base New associates are eligible to enroll in the Company’s vision plan, which is administered by VSP. Coverage includes eye exams, lenses (including contacts), frames, and discounts for laser vision surgery. Your coverage would be effective on your date of hire.
Paid time off & leaves Personal Time Eligibility: Full-time, Part-time Enhanced and Base This program provides associates with the flexibility to take time off for what is important to them. For example, you may need time off for your own illness or to care for sick children. Alternatively, you may have different priorities such as caring for elderly parents. You may wish to take time off for holidays or special occasions that are not a part of the paid holiday schedule, or you may decide to use your Personal Time as additional vacation.
The number of days is pro-rated depending on your date of hire. New hires are eligible for this program after their first day of work, according to the schedule listed to the right.
During subsequent years, Full-time associates receive 80 hours, part-time enhanced will receive 60 hours and part-time base associates will receive 40 hours. Unused personal days can be carried over into a new calendar year, with a maximum carryover of 120 hours for Full-time, 90 for Part-time Enhanced and 80 hours for Part-time Base.
Month hired Full-time Benefits Personal Time
(in hours)
Part-time Enhanced Benefits Personal Time
(in hours)
Part-time Base Benefits Personal Time
(in hours) January 72 54 36 February 66 50 34 March 60 46 32 April 54 42 30 May 48 39 28 June 42 36 26 July 36 33 24
August 30 30 22 September 24 24 18
October 18 18 14 November 12 12 8 December 8 6 4
Coverage Level Monthly Premium
Associate Only $18.50
Associate + child(ren) $45.00
Associate + spouse $39.00
Associate + family $67.50
Coverage Level Monthly Premium
Associate Only $8.48
Associate + child(ren) $18.24
Associate + spouse $16.96
Associate + family $29.14
Part-time Full-time
Vacation Time Eligibility: Full-time, Part-time Enhanced and Base New associates are eligible for vacation after four months of employment. The amount is pro-rated based on your date of hire according to the following schedule.
If your hire date is after July 31, you will not receive any vacation for the current calendar year. However, you will receive vacation days next year (your first anniversary year) upon completion of four months of employment.
On each January 1st thereafter associates are credited with additional vacation based on years of employment.
Years of Employment Full-time Vacation Days
1st anniversary 11
2nd anniversary 12
3rd anniversary 13
4th anniversary 14
5th – 10th anniversary 15
11th anniversary 16
12th anniversary 17
13th anniversary 18
14th anniversary 19
15th – 24th anniversary 20
25th anniversary 25 Paid Holidays Eligibility: Full-time, Part-time Enhanced and Base The Company will provide six and one half holidays in 2019. New hires are eligible immediately for holiday pay. These are the days when the Company is closed but you will receive eight hours of regular pay, unless noted otherwise.
Month Hired Full-time benefits Vacation hours
(in hours)
Enhanced Benefits Vacation hours
(in hours)
Base Benefits Vacation hours
(in hours)
January 84 56 35
February 72 48 30
March 60 40 25
April 48 32 20
May 36 24 15
June 24 16 10
July 12 8 5
August – December 0 0 0
Years of Employment
Enhanced Benefits Vacation hours
(in hours)
Base Benefits Vacation hours
(in hours)
1st – 6th
60 40
7th or more 84 56
2019 Holiday Schedule
New Year’s Day Monday, January 1
Memorial Day Monday, May 27
Independence Day Thursday, July 4
Labor Day Monday, September 2
Thanksgiving Day Thursday, November 28
Christmas Eve Day Tuesday, December 24 (1/2 day – Offices close at noon)
Christmas Day Wednesday, December 25
Volunteer Paid Time Off Eligibility: Full-time, Part-time Enhanced and Base This program allows associates to take time off to volunteer in activities that enhance and serve the communities in which we live and work. Associates will be granted VPTO each calendar year as indicated below. VPTO is paid based on your base salary.
Voluntary Unpaid Time Off Eligibility: Full-time, Part-time Enhanced and Base This program provides an opportunity to take up to 26 days of unpaid time off in a year.
Extended Illness Eligibility: Full-time, Part-time Enhanced and Base This program provides a continuing salary at your current rate of pay while you are unable to work due to injury or illness or while caring for a seriously ill dependent. Under the Extended Illness Program, you would receive 100 percent pay until you return to work or use all of the days available. Associates earn one week (up to a maximum of 25 weeks) with each year of employment beginning with their second year of employment. This program is entirely paid for by the Company.
Short-Term Disability Eligibility: Full-time, Part-time Enhanced and Base This program provides a monthly income equal to 60% of your salary after Extended Illness time has been used. The maximum combined benefit duration for Extended Illness and Short-term Disability is 25 weeks. You would continue to receive Short-term Disability until you return to work or you become eligible for Long-term Disability. New hires are eligible to participate in this plan immediately. This program is entirely paid for by the Company.
Parental Leave Eligibility: Full-time, Part-time Enhanced and Base The program provides eligible associates with up to 16-weeks of leave following the birth or adoption of a child. Associates receive 4-weeks of paid parental leave at 100% of their base salary. For birth mothers, this is in addition to Medical Maternity Leave, which is typically 6-weeks and is paid with Extended Illness and/or Short-Term disability. Associates can use a combination of vacation, personal days or unpaid time off for the remainder of the 16 weeks. This program is entirely paid for by the Company.
Long-Term Disability Eligibility: Full-time associates This plan provides a monthly income, equal to 60% of your pre-disability monthly salary, if you become permanently and totally disabled. New hires are eligible to participate in this plan after completing 90 days of full-time employment. This plan is entirely paid for by the Company.
Tax advantage accounts
These plans allow you to set aside part of your salary – before taxes – to pay for eligible expenses. By paying for these expenses with pre-tax dollars, it reduces taxable income and the taxes you pay. New hires are eligible for these plans immediately.
Health Flexible spending account (Health FSA): Eligibility: Full-time, Part-time Enhanced and Base • You can set aside up to $2,650 per year for health expenses
Limited Health Flexible spending account (LFSA): Eligibility: Full-time, Part-time Enhanced and Base • You can set aside up to $2,650 per year for dental and vision expenses, if you are enrolled in the HDHP
medical plan Health Savings Account (HSA): Eligibility: Full-time, Part-time Enhanced and Base enrolled in the HDHP and meet IRS requirements
• You can set aside pre-tax dollars for health expenses and unused dollars carry over year over year. • Company contribution of $500* for associate only coverage and $1,000* for all other levels of coverage.
* Both company and associate contribution(s) will be pro-rated based on the number of months you are enrolled in the HDHP
Dependent Care Account (DCA): Eligibility: Full-time, Part-time Enhanced and Base • You can set aside up to $5,000 per year for Daycare expenses.
**Maximum of 35 years of participation
Retirement planning 401(k) Plan Eligibility: all associates
Your Contributions New hires are eligible to make voluntary before-tax and Roth(k) after-tax payroll contributions beginning on the first of the month following their hire date. New associates may contribute up to 90% ($19,000 maximum and $6,000 for “catch-up contributions” in 2019) in their first calendar year of hire. Thereafter, if in the previous year your annual compensation is $125,000 or greater, your maximum contribution is limited to 8% instead of 90%. Your contributions are 100% vested.
Company Contributions The Company Contribution has a range from 0 - 10% of eligible earnings, with a target of 5%. The amount is based on Company results compared to goals related to earnings, sales and service. You are eligible for the company contribution if you are employed on December 31 and have been paid for at least 1,000 hours during the year The contribution is made up of two components:
DB Pension Plan
Eligibility: all associates One of the many advantages you will enjoy as an associate is participation in Securian Financial’s defined benefit (DB) pension plan, called the Retirement Plan. The DB pension plan falls into a broad category of retirement plans called “defined benefit” plans. In a defined benefit plan, eligible employees are paid a specific and stable income for life, beginning at their retirement.
Once you have completed 1,000 hours in your first employment year or in any calendar year following your date of hire, you are eligible as a plan participant on the January 1 or July 1 following or coinciding with your hire date or your 21st birthday, whichever is later.
Associates are 100% vested after working 1,000 hours in each of five calendar years. Upon retirement, your eligible compensation, along with years of participation in the plan, are used to determine your monthly retirement income. This DB pension plan is entirely paid for by the Company and will provide a lifetime of monthly income after retirement.
Benefit plan design
* *
Additional insurance protection Eligibility: Full-time, Part-time Enhanced and Base Securian Financial offers several types of insurance designed to help protect you and your family from what you can't plan for– unforeseen events that can have a lasting impact on your family's finances and quality of life.
Basic Group Life insurance Basic Group Life coverage will be effective immediately. This plan is paid for by the Company
Full-time benefit level – this coverage equals one times your annual base salary Part-time Enhanced benefit level – this coverage would provide term insurance on your life equal to your hourly rate multiplied by 1,560 hours. Part-time Base benefit level – this coverage would provide term insurance on your life equal to your hourly rate multiplied by 1,000 hours.
Dependents Life, Group Universal Life, and Variable Group Universal Life coverage, if elected, are effective the later of your employment date, the date you sign the enrollment form, or upon underwriting approval, if necessary.
Dependents Life insurance This coverage provides $10,000 or $20,000 of insurance on your spouse and $5,000 or $10,000 of insurance on each of your dependent children. Depending on the level of coverage chosen, the cost for you would be $1.80 or $3.60 per month, regardless of the number of dependents covered. The proceeds of the policy would be paid to you upon the death of your spouse or child.
Group Universal Life insurance/Variable Group Universal Life insurance This coverage provides a way to supplement an existing insurance program with group life insurance protection. You may enroll for an amount up to four times your annual base salary. Your premium is based on your age, the amount of coverage selected, the premium rate, and any contributions.
Group Critical Illness insurance If you are diagnosed with one of the conditions covered in the policy and meet all policy requirements, Group Critical Illness insurance provides a cash payment directly to you regardless of income, expenses incurred or other insurance coverage. You can use the money you receive any way you want. Benefits are paid at a percentage of the amount of coverage elected. Your premium is based on your age and the amount of coverage selected.
Group Accident insurance If you experience an accidental injury covered in the policy (such as fractures and dislocations), Group Accident insurance pays a lump sum benefit directly to you regardless of income, expenses incurred or other insurance coverage. You can use the money you receive any way you want. Benefits are paid at a percentage of the amount of coverage elected. Your premium is based the coverage type and amount of coverage selected.
Group Hospital Indemnity If you experience a visit to a hospital, Group Hospital Indemnity insurance pays a lump sum benefit directly to you regardless of income, expenses incurred or other insurance coverage. You can use the money you receive any way you want. Benefits are paid at a percentage of the amount of coverage elected. Your premium is based the coverage type and amount of coverage selected.
Payroll Paydays are biweekly, every other Friday. If a Company holiday should fall on a payday, the payday will be the previous Thursday. Below will illustrate when your benefits will be deducted from your paychecks:
• Medical/Dental/Vision/Parking premiums are deducted from the second paycheck of the month. • Additional insurance protection premiums will automatically be deducted from the first paycheck of the month. • Tax advantage accounts contributions will be deducted from each paycheck.
Health FSA, LFSA, HSA and Dependent Care • 401(k) Plan contributions that you elect, will be deducted from each paycheck
Work perks
Below you will find all the great extras available to you for being a Securian Financial associate. Tuition Reimbursement Eligibility: Full-time, Part-time Enhanced This program covers tuition expenses, up to a maximum of $5,000 per calendar year, for credits which may be applied towards a two- or four-year degree. Graduate credits for courses related to an associate’s current job or next logical career move are also covered. New hires are eligible after 12 months of employment to be reimbursed for single courses and after three years of employment for a four-year degree program.
Adoption Assistance Eligibility: Full-time, Part-time Enhanced and Base The adoption assistance benefit provides reimbursement to eligible associates for qualifying expenses associated with the legal adoption of an eligible child. Associates are eligible upon their date of employment. Eligible associates receive 80% of eligible adoption expenses incurred, up to a maximum of $5,000 per adoption.
Commuter Assistance Eligibility: St. Paul associates
Parking Parking costs vary from $35 - $151, depending on the location and whether you choose an indoor ramp or outside lot. The Company has parking spots on-site which are offered on an availability basis. There are many other parking and transportation options, including Metro Transit, carpool and vanpool arrangements. Some costs can be payroll deducted on a pre-tax basis. Please talk with your recruiter if you are interested in more information.
Metropass- Bus Pass The Metropass program allows you unlimited monthly access on all regional, regular-route buses and trains through Metro Transit at a 30% discounted rate of $58 per month. As an added savings, the pass is paid monthly via pre-tax payroll deductions. New hires are eligible to participate upon hire.
Go-To Card- Bus Pass The Company offers discount Twin Cities Metro Transit fares, which are payroll deducted on a pre- tax basis, up to $265 per month. New hires are eligible immediately for this benefit.
Bus Pass Type/Full Cost Associate Cost
Stored value ($20.00) $19.50
Stored value ($40.00) $39.00
Stored value ($100.00) $97.50
31-day ($90.00/$2.50 fare) $88.50
31-day ($120/$3.25 fare) $118.00
Noontime Seminar Program Eligibility: St. Paul associates The Company offers several noontime seminars each month to educate associates on the following topics: life balance, wellness/personal growth, parenting, associate benefit programs, relationships/family communication and household management. These seminars focus on application-oriented information and techniques that participants can use immediately.
Job Posting Program Eligibility: all associates The Company has a strong promote-from-within philosophy, with a goal of 80% of non entry-level jobs being staffed by current associates. Generally, you would be eligible to apply for jobs in other departments after 12-18 months on the job, depending on your level. You may be considered for a promotion or transfer in your current area at any time with supervisory approval. Matching Gift Program Eligibility: all associates Securian Financial’s Matching Gift Program, provided through the Securian Financial Foundation, encourages benefits- eligible associates who have been with Securian Financial one year or more to join in the financial support of educational, cultural and arts institutions and hospitals. Under the program, the Foundation will match dollar for dollar, individual gifts of at least $35 and totaling not more than $2,000 per associate per calendar year provided they meet the conditions of the plan.
Volunteer Plus Program Eligibility: all associates Securian Financial’s Volunteer Plus Program, funded by the Securian Financial Foundation, recognizes associates who volunteer their time and talents to eligible nonprofit organizations. Under the program, the Foundation will donate $100 to eligible nonprofit organizations where associates volunteer 50 hours of unpaid time within a 12-month period. All benefits-eligible associates who have completed one year of employment may apply for a $100 donation to one organization each year.
Scholarship Program Eligibility: all associates With its strong commitment to higher education, the Company established the President’s Scholarship Fund in 1985 and The Coleman Bloomfield Scholars Program in 1995. Through these programs, the Company recognizes, supports, and rewards the academic achievements of associates’ children.
Travel Assistance Eligibility: all associates Securian Financial's travel assistance service is available in connection with our group life insurance plan and provided by Redpoint. Services are available 24/7/365 for emergency assistance and transport when traveling 100 or more miles away from home. Knowing help is just a call away reduces the stress and uncertainty of travel. Associates are eligible upon their date of employment.
Legal, Financial and Grief Resources Eligibility: all associates Lifeworks provides you with access to legal, financial and grief resources. Some of these services include a free initial consultation with an attorney and discounted attorney rates, the ability to create legally valid wills and legal documents, access to download legal forms and view a vast library of legal information and resources for your reference. Access to short-term, solution- focused telephonic counseling that is confidential.
Employee Assistance Program Eligibility: all associates The Employee Assistance Program provides associates and their family members with short-term counseling services. This program puts you in contact with counseling professionals who can assist you with many personal issues that you and your family may face and offers other free resources that provide information and guidance.
Dining Room Eligibility: St Paul associates Associates receive a discount on food prices in the 400 Building cafeteria. In addition, associates have the option to have their food purchases automatically deducted from their paychecks.
Service Recognition Program Eligibility: all associates The success and stability of Securian Financial depends on the efforts of each associate, day after day, year after year. Because you and the work you do are important, Securian Financial gives special recognition to those associates who have been with the company for a number of years.
Financial Counseling Eligibility: all associates Advisors are available to assist you with questions about financial security and retirement planning. Connecting with an advisor from the Advisor Connection program or Customer Solutions Group can help you have peace of mind that you and your loved ones will be financially secure at all stages of life. Life Balance Eligibility: all associates In keeping with Securian Financial’s commitment to work/life balance, the Company offers a variety of flexible workplace options such as modified work hours, part-time employment, job shares, leave without pay and telecommuting. Availability of these options varies depending on business needs. Other Work Perks Eligibility: all associates As an associate of Securian Financial Group, you will also be eligible for other discounts and programs, such as: • Mutual Fund Discounts • Cellular Discount Program • Toastmasters (at St. Paul Location) • YMCA (at St. Paul Location) • Weight Watchers
The plans/programs are sponsored by Securian Financial Group, Inc. for eligible associates and the associates of Securian Financial Group, Inc. subsidiaries/affiliates that have elected to participate in the plans. Associates of participating companies are eligible to participate in the plans under the same terms and conditions as if they were Securian Financial associates. Securian Financial reserves the right to change premium rates in future years and to amend or discontinue all or any part of these programs at any time. This information is intended as a general description of benefits available to associates. In all situations, the terms of each plan document will determine eligibility and any benefits payable under the plan.
