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Retirement & Financial Benefits
Defined Benefit Pension Plan
Defined Contribution Pension Plan
Health & Insurance Benefits
Temporary Disability Insurance
Long-term Disability Insurance
Accidental Death & Dismemberment Insurance
At Stmicroelectronics, employees collect several types of pension plans and welfare benefits. Many American businesses, like Stmicroelectronics, sponsor health coverage, through which employers typically pay a considerable percentage of their workers' health insurance premiums. These contributions are tax deductible for businesses and tax-free for workers. Stmicroelectronics provides health, dental, and vision benefits. Stmicroelectronics also offers group life insurance, short-term disability insurance for accidents or illness, long-term disability insurance, and death benefits, which cover certain causes of death. To help ensure a stable flow of money later in life, numerous workers participate in employer-provided retirement plans. Stmicroelectronics offers defined benefit pension plans and defined contribution pension plans. A defined benefit retirement plan pays workers a predetermined amount upon retirement. With a defined contribution retirement plan, companies help workers save and invest for retirement.
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