Fish & Richardson today announced that it has received a "Save 10" award from the Washington, D.C.-based Financial Services Roundtable for the firm’s efforts to help employees prepare for a secure retirement by enabling them to save 10 percent of their income. Fish was recognized by former Minnesota Governor Tim Pawlenty, who is the CEO of the Financial Services Roundtable, at a ceremony earlier this week in Minneapolis.
The recently launched Save 10 campaign is a business-to-business, peer-to-peer effort to encourage responsible employers to initiate programs to encourage employees to put aside 10 percent or more of their income each year for retirement.
At Fish, all eligible employees can participate in the firm’s 401(k) Profit Sharing Plan as soon as they are hired, with the firm contributing 7.5 percent. Associates are eligible for the Associates 401(k) Plan. Employee contributions to the 401(k) plan, any contributions from the firm, and any related investment earnings are always 100 percent vested.
To be considered for recognition as a Save 10 employer, companies must certify that they engage in certain activities that qualify the company as Save 10 certified. These activities include offering a retirement plan, contributing to employee retirement accounts, ensuring employees can "keep 10" by providing access to disability and life insurance plans, and other criteria.
"We are very proud to be recognized as a Save 10 employer, and to be able to offer these wonderful benefits to our employees," said Jane Smith, Chief Human Resources Officer at Fish & Richardson.
Companies that have joined the Save 10 effort include Allstate, Assurant, AXA, Cargill, CliftonLarsonAllen, Communications Systems, Inc., EZE Castle Integration, Felhaber Larson, Fish & Richardson, First Horizon, Francis Investment Counsel, Franklin Resources, IBM, LPL Financial, Mankato Clinic, Mastercard, Milliman, Nationwide, Northern Trust, Popular Community Bank, Principal, Prudential, Putnam Investments, Quicken Loans, Southern Minnesota Beet Sugar Cooperative, State Farm, SunTrust, Tiller Corporation, Transamerica, Toyota Financial Services, United Technologies, and UNUM.
The Financial Services Roundtable (FSR) represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs. Learn more at FSRoundtable.org.