5 Company Perks That Can Improve Your Retirement

These employer-sponsored benefits will help you to better prepare for retirement.


As the economy continues to improve, companies will eventually hire more people and employees will worry less about surviving the next layoff. Instead we will again turn our focus to switching jobs to make more money and get better benefits. These five company perks could play a large role in how prepared you will be for retirement.

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Company match. I've done my fair share of interviewing job applicants, and I have yet to hear a potential candidate ask about the company's 401(k) policies. With matches of 3 percent of pay being common, that's a significant chunk of money that you could be ignoring. A match could determine whether you should contribute to the company 401(k) at all.

401(k) plan choices. If the interview is going well and you have a good feeling that this might be the right company for you, I would even ask about the various fund choices within the company 401(k) plan. A good investment selection could mean the difference between a comfortable retirement and one that's lacking in funding.

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Perks. Whether it's a company car, free gym membership, or free food, remember that company freebies save you money and allow you to put more away for retirement.

Health benefits. While most companies offer some type of health plan, not every employer will offer a health savings account or a flexible savings account, which could allow you to save thousands of dollars a year in taxes. Additionally, picking the right health plan for you could mean additional savings, even though the employer is footing a major portion of the bill.

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Expense reimbursements. How a company handles expense reimbursements could impact your income. Many companies have employees put work-related expenses on their own credit card and then reimburse them for it later. If you put a significant amount of company expenses on a cash back reward card, you may be able to bring in some extra income.

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