Norway Savings Bank Benefits

At Norway Savings Bank, workers are provided with many options for pension and welfare benefits. Like Norway Savings Bank, a large number of employers in the United States finance health coverage for their employees, through which a sizable proportion of each worker's health insurance premium is paid for by their employer. These contributions are tax deductible for companies and tax-free for employees. Norway Savings Bank provides health, dental, and vision coverage. Norway Savings Bank also provides group life insurance, short-term disability insurance for accidents or illness, and long-term disability insurance. Employer-sponsored retirement plans help to secure a stable stream of cash later in life. Norway Savings Bank provides defined benefit pension plans and defined contribution pension plans. With a defined benefit pension plan, retirees collect fixed payments upon retirement. With a defined contribution pension plan, employers help workers save and invest for retirement.