Belk Stores Services Benefits

Belk Stores Services provides several retirement savings plans and welfare benefits. Numerous businesses in the United States, like Belk Stores Services, fund health coverage for their employees, through which companies typically cover a considerable percentage of their workers' health insurance premiums. In this system, businesses collect tax deductions for their contributions and workers collect the benefits tax-free. Belk Stores Services provides vision, dental, and health coverage. Belk Stores Services also provides long-term disability insurance, short-term disability insurance for accidents or illness, death benefits, which cover certain causes of death, and group life insurance. To help ensure a steady source of cash later in life, many workers rely on employer-sponsored retirement plans. Belk Stores Services provides defined benefit pension plans and defined contribution pension plans. A defined benefit retirement plan pays retirees a predetermined amount when they retire. With a defined contribution retirement plan, employers help workers save and invest for retirement.