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Winner: 2008 AARP Best Employers for Workers Over 50

Industry: Financial Services
Location: Washington, D.C.
2008 Rank: 50

Highlights of 2008 Winning Strategies

FINRA has responded to employee feedback from focus groups by implementing the following benefits and improvements: The company has added backup childcare and eldercare benefits, extended military pay and benefits from three to 12 months, added domestic partner benefits, offered retirement-planning seminars for employees age 50+, and introduced new wellness programs—such as on-site Weight Watchers, aerobics, online health-risk assessments, wellness and lactation rooms, monthly lunch-and-learns on health-related issues, and fitness-facility discounts.

Additional Policies and Practices:

Workplace Culture/Continued Opportunities: Full-time employees working at least 35 hours per week receive the learning-and-development benefit of a tuition reimbursement program, while those working at least 20 hours per week are eligible for in-house classroom training and online training. During the past 12 months, 85 percent of FINRA employees participated in at least one of its training opportunities, with an average of 72 hours spent in training.

The company celebrates long-service anniversaries with announcements, parties, and awards.

Employees have opportunities to gain experience by working on temporary assignments in other departments, on cross-functional teams, and on team projects.

FINRA accommodated one employee who was paralyzed from the waist down by adding sliding entry doors and handicapped doors to the front of the building, widening the doors on her work floor, retrofitting all door handles to be automatic, and adding an electric plug to recharge her scooter.

Benefits/Health: Full- and part-time employees working at least 20 hours a week receive individual and family medical coverage, individual and family prescription-drug coverage, individual and family vision and dental insurance, and short- and long-term disability.

Health benefits for retirees under 65 and 65+ include individual and spousal medical and drug coverage, individual and spousal vision and dental coverage, and individual life insurance or other death-benefit coverage. New hires are eligible for all of the benefits upon retirement, excluding the individual life insurance or other death-benefit coverage.

The company offers employees flexible-spending accounts to help cover out-of-pocket healthcare costs.

Benefits/Financial: FINRA offers a 401(k) plan with an employer match and a defined-benefit plan to its full- and part-time employees. Full-time employees are also eligible for stock options. All new hires are automatically enrolled in the 401(k) plan, and employees 50+ can make catch-up contributions. Employees receive financial-planning information from staff members, from the financial-services firm that administers the 401(k), and from external financial-planning experts not affiliated with the plan.

FINRA offers seminars on asset allocation and reaching retirement. Employees also have access to financial engines on the Internet and on the FINRA intranet.

The company offers short-term time off without pay and long-term leaves of absence without pay to allow for caregiving. FINRA offers referral services to assist with care for children and grandchildren and for eldercare; the company also provides its full- and part-time employees backup care for children, grandchildren, and elders.

The following wellness programs are offered to full- and part-time employees: flu shots, health screenings, health-risk appraisals, smoking-cessation programs, health club discounts, physical activity and exercise programs, weight loss programs, and stress management training. Ninety-eight percent of the company’s employees have used at least one of its wellness benefits during the past 12 months.

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