Goldman Sachs Group Inc. added new employee benefits, including higher retirement contributions, as part of a package of changes aimed at addressing worker burnout.
“We’re focused on delivering energy optimization, resilience and mental-health programs that support our people in caring for themselves and their families,” Bentley de Beyer, Goldman Sachs global head of human capital management, said Monday in an emailed statement.
The additional perks include paid leave for miscarriages, more paid leave for the death of an immediate family member, and a six-week unpaid sabbatical for long-term employees, according to an internal memo seen by Bloomberg News.
Dow Jones reported the new benefits earlier Monday.
Other changes include:
• Boosting retirement matching contributions for U.S. employees to 6% of total compensation (an increase of 2%), and contributing 8% of total compensation for employees making $125,000 or less with no requirement for workers to contribute for the first 2%.
• Eliminating the one-year waiting period for firm contributions for new joiners.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
