More than a paycheck: The hidden perks you could be missing from your employer

Whether you're helping a young adult start managing their first paycheck or looking for ways to help stretch your own, many employers offer hidden perks that can really add up in value over time. Don't miss out on valuable benefits!

Here are a few common benefits to ask about:

• 401k Matching - These employer-sponsored retirement savings plans offer significant tax benefits as you save for your future. Employers often match your contributions, dollar for dollar, in essence doubling your retirement savings. Understand how much your employer will match and strive to put away that percentage of your paycheck monthly to maximize the matching benefit.
• Retirement Planning - In addition to 401k plans, your employer may offer additional planning resources at no cost. For example, meeting with an investment advisor can help you better understand how much you'll need to retire comfortably. The earlier you start saving, the better so don't put off free consultations and other services. Take advantage of what your employer offers to ease stress and plan more confidently.
• Education Reimbursements - If you'd like to continue your education, it may be worth considering employers who offer education reimbursement as a benefit. Depending on the grade you earn upon course completion, some employers will reimburse up to 100% of your tuition costs up to their designated maximum.
• Professional Development Opportunities - Many employers invest in their employees' growth by providing access to training programs, conferences, certifications or workshops. This could be a great way to sharpen or enhance your professional skills.
• Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs) - These accounts allow you to set aside pre-tax dollars for medical expenses, reducing your taxable income and potentially saving you money.
• Life Insurance and Disability Coverage - Employers often provide life insurance policies or disability coverage as part of their benefits package, offering financial protection to you and your family.
• Other Benefits - As employers focus on overall health and wellness, you may find that in addition to traditional benefits such as providing health and dental insurance options, more organizations now offer ancillary benefits. For example, reimbursing gym membership fees, fitness classes or even periodic massage therapy treatments.

In many ways, it's still an employee's market as unemployment rates remain low and companies continue to add jobs. As you evaluate potential employers, be sure to take their benefits into account in addition to your paycheck. Beyond the benefits noted above, paid time off, paid parental leave, and things like an organization's culture and mission could be important factors for your future career success and overall health and wellness.

One great place to look for new career opportunities is the annual Best Places to Work in Kentucky program, which is sponosred by The Kentucky Chamber of Commerce, the Kentucky Society for Human Resource Management and CHI Saint Joseph Health. Each year, they recognize the state's 100 best employers based on an employer assessment of policies and procedures and the results of a confidential employee feedback survey.

No matter where you work, making the most of all benefits available to you will help you earn more than just a paycheck and may even help you advance your career.

Jill Krimm, Chief People Officer

Abound Credit Union