A LOOK AT YOUR TOTAL REWARDS
PAY AND BENEFITS
The package of the pay and benefits you receive for working at an Xcel Energy operating company is known as your “Total Rewards.”
It includes top-of-mind rewards such as your salary and your medical and retirement plans. But you also have access to a wide variety of additional programs and benefits that can help you through a spectrum of life events – such as planning for your children’s college, taking classes yourself, adopting a child, dealing with personal or financial challenges, or ensuring a comfortable retirement.
While considering your Total Rewards, it’s important to remember that it is Xcel Energy customers who are paying the costs. It is in everyone’s interest to make sure that those costs are reasonable and in line with the industry and the communities we serve.
Detailed information on Total Rewards, including your personal Total Rewards Statement, is available to you any time on myHR.
This graphic represents the many dimensions of your Total Rewards as an employee.
Pay – includes what the Company pays for time you work, but also time off such as vacation, sick time, personal leave, scheduled holidays, even volunteer PTO and military leave.
Health – includes your medical plan, dental plan, vision plan, and other health-related coverages. While you pay a portion of these costs, the Company’s investment is several times greater.
Retirement – the Company pays the full cost of your pension, and also offers a significant employer match to your 401(k).
Financial Security – the Company makes available to you a wide variety of additional benefits to aid in your family’s financial security.
Professional Development – you can take advantage of educational opportunities through tuition reimbursement, technical training, and other programs.
Life Changes & Challenges – the Company provides valuable additional services including adoption assistance and subsidized transit programs.
Taking the time to explore your benefits can help you save money and take advantage of all of the Total Rewards you receive as an employee.
Medical Plan – different plans offer different cost-saving benefits, but you may be able to save money or get more value through:
- covered preventive care
- in-network providers
- mail-order and generic prescription drugs
Retirement – not contributing to your 401(k) is like leaving money on the table. In addition to funding your defined benefit Pension Plan, the Company matches a certain portion of your contribution. Also, making a pre-tax 401(k) contribution may actually move you into a lower tax bracket, helping you bring home more money and meet your retirement planning goals at the same time.
EAP – the Employee Assistance Plan (EAP) offers free or low-cost benefits including:
- free mental health counseling
- legal services
- financial planning
- child/parenting resources
- adult care
- chronic condition support
Other Programs – you can take advantage of multiple other cost-saving benefits provided by Xcel Energy and its operating companies:
- Pre-tax bus and train passes
- College savings plan
- Tuition reimbursement
Learn more by visiting myHR on XpressNET or go to hr.xcelenergy.com. Review your Total Rewards Statement. Or call the Xcel Energy HR Service Center at 1-800-689-7662.
More information about the EAP is available at liveandworkwell.com (access code: xcel) or call 1-866-248-4096.
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