Qualifying Employees to Receive Up to 8% of
Their Salary Plus Bonus for Outstanding Student Loans from
One of the Country's Best 401(k) Plans, in Partnership with SoFi at
Work
RALEIGH,
N.C., Dec. 13, 2023 /PRNewswire/ -- Kimley-Horn,
a premier engineering, planning, and design consultancy with
offices across the country, will pay matching contributions into
qualifying employees' 401(k) plans based on their student loan
repayments. In partnership with SoFi at Work, a leading provider of
holistic financial well-being and education benefits to more than
1,000 organizations, the new benefit adds to one of the industry's
best financial wellness programs.
Today, after one year of employee service, Kimley-Horn has a
match of double the employee's four percent contribution with an
eight percent company contribution. On January 1, 2024, employees' student loan
repayments can replace all or a portion of the four percent
contribution, allowing employees to continue to receive the
company's retirement match while paying down their student
loans.
In addition to the 200% match, for decades Kimley-Horn has
provided an additional generous profit-sharing contribution to
employees' 401(k) plans. In most recent years, the firm has paid an
additional 10% of employees' salary plus bonus into their 401(k)
plans, giving a total contribution to retirement of 18% of salary
plus bonus. Employees also have free access to financial planning
and advice through an independent third party.
"We always look for ways to improve our employees' financial
wellness over the long term," said Kimberly
Plessinger, Compensation and Benefits Manager at
Kimley-Horn. "The ability to count student loan repayments toward
401(k) contributions lets employees both pay for the past and
maximize savings for the future. Engineering and design consulting
is an incredibly competitive labor market, and this further sets us
apart as one of the best places to work."
Using SoFi at Work's innovative Student Loan
Verification (SLV) service, Kimley-Horn will help its
workforce pay off student debt while also maximizing its retirement
savings. A provision in the Secure 2.0 Act allows companies to
offer this 401(k) benefit starting in 2024. Once Kimley-Horn
identifies eligible participants, SLV simplifies the rest of the
process, from plan design to data security and reporting. SoFi at
Work verifies the student loan payments and its 401(k) partner, T.
Rowe Price, delivers the
contributions for retirement matching.
"We applaud Kimley-Horn for taking these steps to respond to its
employees' needs and enhance its financial well-being program,"
said Barrett Scruggs, VP of
Workplace Financial Well-being at SoFi at Work. "We're proud to
collaborate with industry leaders like Kimley-Horn and T.
Rowe Price and look forward to
redefining the future of employee benefits through our partnership
together."
Kimley-Horn's benefits help the firm win a slew of workplace
awards. For over 15 years, Kimley-Horn has been named one of
Fortune 100 Best Companies to Work For®. In addition, each year
going back to 2017, Kimley-Horn has made the list for the:
- Fortune Best Workplaces for Women™
- Fortune Best Workplaces in Consulting & Professional
Services™
- Fortune Best Workplaces for Millennials™
About Kimley-Horn
Kimley-Horn, one of the nation's premier engineering, planning, and
design consulting firms, serves a wide range of disciplines,
including transportation, aviation, development services, energy,
transit, urban design, landscape architecture, and
water/wastewater. With nearly 8,000 employees in more than 125
offices nationwide, Kimley-Horn is one of Fortune's 100 Best
Companies to Work For and one of People Magazine's Companies that
Care. For more information, please visit www.kimley-horn.com.
Follow Kimley-Horn on LinkedIn, Instagram,
and Facebook.
About SoFi
SoFi (NASDAQ: SOFI) is a
member-centric, one-stop shop for digital financial services on a
mission to help people achieve financial independence to realize
their ambitions. The company's full suite of financial products and
services helps its more than 6.9 million SoFi members borrow, save,
spend, invest, and protect their money better by giving them fast
access to the tools they need to get their money right, all in
one app. SoFi also equips members with the resources they need
to get ahead – like career advisors, Credentialed Financial
Planners (CFP®), exclusive experiences and events, and a thriving
community – on their path to financial independence.
SoFi innovates across three business segments: Lending,
Financial Services – which includes SoFi Checking and
Savings, SoFi Invest, SoFi Credit Card, SoFi
Protect, and SoFi Insights – and Technology Platform,
which offers the only end-to-end vertically integrated financial
technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a
nationally chartered bank, regulated by the OCC and FDIC and SoFi
is a bank holding company regulated by the Federal Reserve. The
company is also the naming rights partner of SoFi Stadium, home of
the Los Angeles Chargers and the Los Angeles Rams. For more
information, visit SoFi.com or download our
iOS and Android apps.
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SOURCE Kimley-Horn