BAE Systems Inc. Benefits in Australia

BAE Systems Inc. employees receive several retirement and welfare benefits. A large number of workers in the United States, like BAE Systems Inc. workers, rely on group health plans sponsored by their employer, through which a significant proportion of each employee's health insurance premium is covered by their employer. In this setup, employers are given tax deductions for their contributions and workers collect the insurance tax-free. BAE Systems Inc. offers health, dental, and vision insurance. BAE Systems Inc. also provides long-term disability insurance, death benefits, which cover certain causes of death, group life insurance, and short-term disability insurance for accidents or illness. To help ensure a reliable stream of money later in life, many employees depend on employer-financed pension plans. BAE Systems Inc. offers defined benefit pension plans and defined contribution pension plans. With a defined benefit pension plan, retirees collect predetermined compensation when they reach retirement. With a defined contribution retirement plan, businesses help workers save and invest for retirement.