Volvo Group North America Benefits

At Volvo Group North America, workers collect several options for retirement and welfare benefits. Like Volvo Group North America employees, countless members of the American workforce enroll in health insurance funded by their employer, through which a significant percentage 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. Volvo Group North America provides health, dental, and vision insurance. Volvo Group North America 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 guarantee a reliable income flow later in life, many employees participate in employer-financed retirement plans. Volvo Group North America offers defined benefit pension plans and defined contribution pension plans. With a defined benefit retirement plan, retirees receive predetermined payments when they retire. With a defined contribution pension plan, employers help employees save and invest for retirement.