The Equifax 401(k) Plan (“Plan”) is designed to help employee's save money for retirement. Salaried employees may enroll immediately. Fidelity Investments is both the record keeper and trustee of assets for our Plan.
Through payroll deductions, employees may contribute up to 30 percent of their bi-weekly eligible compensation in the Plan. Employee contributions are eligible for a discretionary company match.
The Plan offers employees three savings options: before-tax contributions offering maximum current tax advantages, traditional after-tax contributions allowing in-service withdrawal of contributions and Roth after-tax contributions. Participants may elect before-tax, traditional after-tax or Roth after-tax contributions, or combination of the three. Employees currently have a choice of 25 investment funds.
Equifax offers a Point of Service Plan (POS) through Aetna, where employees have the freedom of seeing any doctor at any time. In-network or out-of-network services are both available – your costs differ depending on whether you use a participating provider. Preventive Care is covered if you use an in-network doctor, and deductibles and out-of-pocket maximums apply to most in- or out-of-network charges. (Out-of-Network services are subject to reasonable and customary charges.)
Equifax also offers most employees an Exclusive Provider Organization (EPO) Plan through Aetna, one of the premier EPO networks in the country.
Participants may choose from Aetna’s nationwide network of preferred dentists who provide quality services at special, reduced rates – or they may choose any other dentist. The participant’s portion of the cost is lower when they use a preferred dentist.
Participants may choose from the EyeMed’s nationwide network of optometrists and ophthalmologists – or any other eye doctor. The cost to participants is usually less when they use a network provider. The copayment is $15 for eye exams and $25 for lenses and frames. There are limits on the amounts paid for contacts and benefits outside the network.
Equifax pays the full cost of this plan. It will automatically continue an eligible employee’s salary after they have been disabled five consecutive days, if the disability continues and the employee provides adequate medical documentation to support the disability. Employees with at least six months of service with Equifax will receive 100% of their normal salary for the first five days of disability (a total of five in any one calendar year), and 70% of their normal salary for the remainder of their eligible disability period, with a maximum pay of 90 days.
Equifax will provide coverage through Liberty Mutual equal to 50% of an employee’s salary the first day of employment. Employees are also eligible to participate in the LTD Supplemental Income Protection (SIP) Plan through UnumProvident. This “buy-up” plan allows participants to protect more of their income – an additional 10% (a benefit of 60% of base salary) or an additional 20% (a benefit of 70% of your total compensation including incentives, commissions, etc.). Benefits are available after 90 consecutive days of disability.
Participants' premiums for the Medical, Dental or Vision Plans are taken on a before-tax basis.
Dependent Care Account
Participants may set aside before-tax dollars for eligible dependent care expenses they expect to pay during the year. After paying these expenses, participants are reimbursed from their accounts in tax-free dollars.
Health Care Account
Participants may set aside before-tax dollars for health, vision and dental expenses they expect to pay out-of-pocket during the year. After they pay these expenses, they are reimbursed from their account in tax-free dollars.
Basic Life/Supplemental Life
All employees receive basic life insurance coverage through Liberty Mutual of 1x base salary immediately upon hire. Employees have the opportunity to buy supplemental life coverage up to 4x their base salary (up to $1 million). There will be one beneficiary for both Basic Life and Supplemental Life Insurance.
Equifax provides employees with annual paid time off that increases with their length of service.
Equifax provides employees with 9 paid holidays to be taken during each calendar year. The seven standard holidays are New Year’s Day, Martin Luther King Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. Each Equifax location provides employees with two additional “floating” paid holidays.
The company provides time off with pay for an employee’s personal or family illness, emergencies, doctor appointments, jury duty, etc. Manager approval is required.
Equifax helps employees pay for business-related courses toward associate, bachelor’s, master’s and doctorate degrees, or certificates related to their job—certain limits apply.
Matching Gifts Program
Each year, Equifax will match employee donations between $50 and $5,000 to IRS certified charitable organizations.
Employee Assistance and Work Life Program
The Equifax Employee Assistance (EAP) and Work Life Program is managed by Ceridian through the "LifeWorks" Program. The EAP provides confidential 24/7 assistance in resolving emotional, drug, alcohol, financial, marital and stress-related problems for Equifax employees and their immediate families. The cost for consultation with the EAP counselor is fully paid by Equifax. Work-Life services will provide employees and their families the ability to take advantage of focused counselors on adoption, child and elder care, disability, financial and legal matters. Employees have online access to educational and informational materials such as booklets, CDs and audiotapes.