Carpenter Morse Group
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Natixis Global Asset Management Launches Student Loan Repayment as a Benefit for Employees
Issued by: Natixis Global Associates
Date: Dec. 9, 2015
|Decision to Contribute up to $10,000 toward Loans Based on Employee Feedback and External Research
BOSTON, December 8, 2015 -- Natixis Global Asset Management announced today a new benefit to assist its U.S. based employees with the repayment of their student loan debt. Natixis will contribute $5,000 to every full-time employee who has been at Natixis for at least five years and has outstanding Federal Stafford or Perkins Loans. These eligible employees will also have the opportunity to earn an additional $1,000 each year over the next five years, toward their student loans, if they remain with the company.
The decision to offer this benefit was born out of conversations with members of Natixis’ team – Millennials (Gen Y) in particular – who are delaying important financial milestones because of the burden of student debt. In addition, research conducted by the company indicates that although the best practice for retirement saving is to start young, student loan debt is keeping a significant number of young workers from taking that first step.
The company’s 2015 Retirement Plan Participant Study* found that nearly one in four (23 percent) Americans and more than a third (35 percent) of Millennials who do not contribute to a company-sponsored retirement plan cite the need to pay off student loans as a factor that keeps them from participating. Among the survey’s Millennial respondents, student debt is the third most common factor for not participating, behind needing the money today (54 percent) and feeling the company match isn’t big enough (43 percent).
“At Natixis, our mission is to help people make the right financial planning decisions that allow them to meet their goals, and that includes extending the spirit of that mission to our employees as significantly as we can,” said John Hailer, President and Chief Executive Officer of Natixis Global Asset Management in the Americas and Asia. “In addition to hearing firsthand from our younger employees about the toll student debt can take on other financial obligations – such as saving for retirement – our extensive research on Americans’ financial health supports the need to provide student loan repayment as a benefit.”
“We pride ourselves on already providing a fantastic range of benefits to our employees and are excited to help lead the charge in offering student loan repayment, a largely untouched benefit in the workforce,” added Ed Farrington, Executive Vice President, Business Development and Retirement at Natixis Global Asset Management. “We are confident that this new benefit will empower our younger employees to take full control of their financial futures.”
*Natixis Global Asset Management conducted a study of 1,000 U.S. investors, 750 being active plan participants and 250 being non-participants. The age groups are broken up as follows: 421 Gen Y (18-34 years old), 328 Gen X (35-50 years old), and 251 Baby Boomers (51+). Data was gathered in August 2015, and the minimum income level required for survey respondents was $15,000.
About Natixis Global Asset Management, S.A.
Headquartered in Paris and Boston, Natixis Global Asset Management, S.A.’s assets under management totaled $865.9 billion (€775.5 billion) as of September 30, 2015. /2/ Natixis Global Asset Management, S.A. is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Global Asset Management, S.A.’s affiliated investment management firms and distribution and service groups include Active Investment Advisors; /3/ AEW Capital Management; AEW Europe; AlphaSimplex Group; Aurora Investment Management; Axeltis; Capital Growth Management; Darius Capital Partners; DNCA Investments; /4/ Dorval Finance; /5/ Emerise; /6/ Gateway Investment Advisers; H2O Asset Management; /5/ Harris Associates; IDFC Asset Management Company; Loomis, Sayles & Company; Managed Portfolio Advisors; /3/ McDonnell Investment Management; Mirova; /5/ Natixis Asset Management; Ossiam; Seeyond; /7/ Snyder Capital Management; Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Global Asset Management Private Equity, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Visit ngam.natixis.com for more information.
More about John Hailer, CEO of the Americas and Asia, Natixis Global Asset Management
/1/ Cerulli Quantitative Update: Global Markets 2015 ranked Natixis Global Asset Management, S.A. as the 17th largest asset manager in the world based on assets under management ($890.0 billion) as of December 31, 2014.
/2/ Net asset value as of September 30, 2015. Assets under management (AUM) may include assets for which non-regulatory AUM services are provided. Non-regulatory AUM includes assets which do not fall within the U.S. Securities and Exchange Commission’s definition of ‘regulatory AUM’ in Form ADV, Part 1.
/3/ A division of NGAM Advisors, L.P.
/4/ A brand of DNCA Finance.
/5/ A subsidiary of Natixis Asset Management.
/6/ A brand of Natixis Asset Management and Natixis Asset Management Asia Limited, based in Singapore and Paris.
/7/ A brand of Natixis Asset Management.
This is a press release issued by the company named above. BenefitsLink is not the author. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.