Employee Benefits

We encourage all our employees to focus on saving for the needs of their families along with planning for retirement. While more detail is provided when you join us, the following are highlights of our financial and retirement benefit plans and programs, along with other perks:

401(k) and Thrift Plan

Employees may contribute eligible earnings on a pre-tax and/or post-tax basis. Waddell & Reed will match dollar-for-dollar the first 3% of eligible pay, and 50 cents for every dollar on the next 2% of eligible pay. The company may also make additional discretionary contributions on a periodic basis. Employees may change elections or opt out during any pay period and may contribute up to the IRS limit. Automatic participation begins after 30 days of service and employees are eligible for company-matched contributions immediately upon participation. Employee contributions are always 100% vested and; company contributions are 100% vested after one year of service.

Health Savings Account (HSA)

An HSA provides a unique tax-advantaged opportunity to pay for current and future out-of-pocket healthcare expenses with pre-tax dollars for you, your spouse and dependents. These individual accounts can have a triple tax advantage because employee contributions can be made on a pre-tax basis, investment earnings are not taxable, and you are not taxed when these dollars are used to pay for qualified medical expenses. Waddell & Reed has a generous employer seed to accompany the employee contribution.

Flexible Spending Accounts (FSA)

FSA accounts allow you to pay or be reimbursed for eligible expenses with pre-tax dollars that you elect to contribute to an FSA account. We offer four types of FSA accounts:

  • Health Care FSA
  • Limited Purpose Health Care FSA
  • Dependent Care FSA
  • Transit/Parking FSA

Education Assistance Program

We believe in the ongoing advancement of our colleagues and encourage the development of skills and knowledge that help us remain innovative and competitive. Employees may be reimbursed for 100% of the cost of tuition and fees, up to $5,250 per year, for any approved undergraduate or graduate degree program that complements company business operations. Full-time employees seeking a degree from an accredited college or university are eligible for reimbursement of tuition required for the degree. The degree being sought must be in a field of study that is compatible with the general business structure of the Company, and additional requirements apply.

Net Asset Value Purchase

Waddell & Reed offers employees the opportunity to purchase shares of its affiliated mutual funds at net asset value (NAV). Net asset value equals the price per share before a sales charge is added. This investment privilege is also extended to spouses, children, parents, and parents of spouses.

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