At NFA, we firmly believe that it is the quality of our employees that sets us apart and enables us to achieve our goals. That's why we offer a generous and flexible benefits package that allows employees to easily balance work and life and can be tailored to address their needs.
Please scroll through the slides below to learn more about some of the benefits offered by NFA.
For a company to be successful, it must have healthy and productive employees. Therefore, we offer comprehensive medical and dental plans to both our employees and their eligible dependents, including domestic partners. Employees may choose the coverage that fits their circumstances from a variety of options. Coverage begins on the first day of the month following their start date. We also offer free flu shots, annual health screenings, numerous other wellness events and discounts to nearby fitness centers. Additionally, our employee assistance program provides confidential counseling sessions to discuss personal or family issues, and can help with child or elder care issues.
We strive to ensure that our employees meet their retirement goals. In doing so, we offer a robust retirement savings plan that incorporates both a 401(k) savings plan and a defined contribution retirement plan. Employees are automatically enrolled in the 401(k) savings plan. We will match 100 percent of an employee's 401(k) contributions up to 6 percent of their pay. Through our defined contribution retirement plan, we may also make a discretionary retirement contribution annually to all employees in an amount determined by our Board of Directors. In previous years, the contribution has been 5 percent. Participation requires no employee contribution. Employees become eligible for the defined contribution plan after their first full year at NFA. Employees will be fully vested in both of these retirement plans after three years of service.
We have life insurance coverage to help employees plan for their survivors' financial security. We provide a basic life and accidental death and dismemberment (AD&D) insurance to all eligible employees at two times their annual salary. Additional life, AD&D and dependant life insurance also is available for purchase. Furthermore, we provide all eligible employees with business travel accident insurance at no cost.
Our disability plans provide you with protection for your earnings should you become disabled. Employees are covered under the short- and long-term disability plans on the first of the month following their date of hire.
We also offer voluntary long-term care insurance in our employee benefits portfolio.
Commuting to work each day can be expensive. To help ease this burden, we offer a $55 monthly transportation subsidy to employees who use public transportation.
We understand the importance of promoting work/life balance for our employees. Because of this, we offer generous paid time off including vacation days and nine holidays. New employees are entitled to 10 to 15 vacation days, and all employees can use flexible benefit dollars each year to purchase up to five additional vacations days beyond their allotted number of days. NFA also allows employees the opportunity to take advantage of flexible work arrangements to help employees make the most of all aspects of life.
Our overall success as a regulator depends on the ability of our staff to continually learn and develop new skills. We offer onsite professional development and access to external seminars and online learning programs. We also recognize the importance of continuing education and provide tuition assistance up to $12,500 per year to eligible employees for advanced degree programs. Our staff also can receive educational assistance for professional certifications and financial services industry licensing examinations.
Beyond meeting our mission of helping to safeguard the integrity of the derivatives markets and protecting investors, we care deeply about giving back to our community and fostering a friendly, active work environment for our employees.
We keenly support a number of philanthropic initiatives throughout the course of the year. Once each month, we raise money for the Susan G. Komen foundation by collecting employee donations when they wear jeans to work. We also participate in a companywide United Way campaign where employees can contribute a portion of their salary in return for an extra vacation day. To help those affected by tragedies, we match employee donations to relief programs and encourage employees to promote their own charitable fundraising endeavors. We also regularly send groups of employee volunteers to help at food banks, schools and tax preparation efforts, among other activities. Our employees also generously contribute to holiday toy and book drives to help children who may otherwise go without during the holiday season.
Outside of work, we sponsor a variety of athletic teams and events. Our employees regularly participate in annual softball, basketball, volleyball and kickball leagues. We also assemble groups to partake in the American Heart Association's Heart Walk, the Bank of America Shamrock Shuffle and a host of other events.