Avnet Inc. Benefits

Avnet Inc. workers collect several retirement benefits and welfare benefits. Numerous workers in the United States, like Avnet Inc. workers, depend on employer-provided group health plans, through which a large proportion of each worker's health insurance premium is covered by their employer. These contributions are tax deductible for employers and tax-free for workers. Avnet Inc. provides health, dental, and vision plans. Avnet Inc. also provides long-term disability insurance, short-term disability insurance for accidents or illness, and group life insurance. Employer-funded retirement plans help to ensure a stable cash stream later in life. Avnet Inc. provides defined benefit pension plans and defined contribution pension plans. With a defined benefit pension plan, retirees are given fixed payments when they reach retirement. With a defined contribution pension plan, employers help workers save and invest for retirement.