Ericsson Inc. Benefits

At Ericsson Inc., employees are provided with several types of pension and welfare benefits. Like Ericsson Inc., countless American employers sponsor group health insurance, through which companies typically cover a significant proportion of their employees' health insurance premiums. In this system, companies collect tax deductions for their contributions and employees are given the plans tax-free. Ericsson Inc. offers health, dental, and vision coverage. Ericsson Inc. also provides group life insurance, short-term disability insurance for accidents or illness, and long-term disability insurance. To help ensure a stable money source later in life, many workers enroll in employer-funded retirement plans. Ericsson Inc. offers defined benefit pension plans and defined contribution pension plans. A defined benefit pension plan pays retirees a predetermined sum when they retire. With a defined contribution retirement plan, companies help employees save and invest for retirement.