Pension benefits for employees that Verizon offers are in the form of a 401(k) savings account that Verizon matches, according to Verizon. Other retirement benefits from Verizon are discounts on Verizon services or products and affordable health care.
Verizon allows retired employees to access their pension, health care and discount service information online, as illustrated on the Verizon website. The pension payment schedule for the current year is available through Verizon.com. Retirees also have the option to inquire about pension payments and set up direct deposit for pension payments online. Other information regarding retirement benefits available online includes taxes, reimbursements and a savings plan. Additionally, Verizon retirees may update personal and beneficiary information and utilize the Helpful Sites resource featured on Verizon.com.
Verizon has many benefits for current employees as well, such as incentives based on performance, a relief fund for victims of natural disasters, adoption expense assistance and discounts on Verizon products and services, states Verizon. In addition to health care, Verizon employees may be eligible for health care and dependent spending accounts and the Employee Assistance Program. Verizon also offers a program for expecting mothers, paid vacation time, personal days, tuition assistance and online development services; however, all employee benefits offered by Verizon are dependent on position in the company, work location and business unit.