Mascoma Savings Bank Benefits

At Mascoma Savings Bank, they offer some retirement and welfare benefits. Countless employees in the United States, like Mascoma Savings Bank employees, depend on employer-sponsored group health plans, through which companies typically foot the bill for a sizable proportion of their employees' health insurance premiums. These contributions are tax deductible for companies and tax-free for workers. Mascoma Savings Bank provides health coverage. Mascoma Savings Bank also provides group life insurance, long-term disability insurance, and death benefits, which cover certain causes of death. To help secure a stable flow of money later in life, many employees participate in employer-provided retirement plans. Mascoma Savings Bank offers defined benefit pension plans and defined contribution pension plans. A defined benefit pension plan pays workers a predetermined amount upon retirement. With a defined contribution pension plan, employers help workers save and invest for retirement.