Mercantile Bank of Michigan Benefits

Mercantile Bank of Michigan provides a few pension and welfare benefits for their employees. Like Mercantile Bank of Michigan, a large number of employers in the United States fund group health benefits, through which a considerable percentage of each worker's health insurance premium is paid for by their employer. In this arrangement, companies are given tax deductions for their contributions and employees receive the coverage tax-free. Mercantile Bank of Michigan provides health, dental, and vision coverage. Mercantile Bank of Michigan also offers group life insurance, short-term disability insurance for accidents or illness, and long-term disability insurance. Employer-funded pension plans help to guarantee a stable income flow later in life. Mercantile Bank of Michigan provides defined contribution pension plans. With a defined contribution pension plan, companies help workers save and invest for retirement.