BOSTON--(BUSINESS WIRE)--Natixis Global Asset Management today announced enhancements to its student loan repayment benefit. The $1,000 annual benefit will now be available immediately to all employees with any federal or private student loans, eliminating the requirement to have five years’ tenure with the firm. Previously, the benefit was a $5,000 lump sum given to employees at their fifth anniversary with the firm and only federal loans were eligible. The update to the benefit includes a payment in the amount of $83.33 per month made directly to the student loan provider up to the life of the loan, or a maximum of $10,000 over a 10-year period, as long as the individual is still employed by Natixis. This payment will be applied to the principal of the loan, thus reducing the interest paid and shortening the term of the loan.
Natixis implemented the employee benefit as a direct result of research from its Durable Portfolio Construction Research Center which showed that Generation X and Millennial workers delay saving for retirement because of the burden of student loan balances.*
Currently, nearly 20% of Natixis employees are taking advantage of the student loan repayment benefit. The first payments of the benefit start this month; however, the benefit was previously announced in December 2015.
“Helping people achieve their financial goals is at the heart of our business and our industry, so we knew that leading by example was the right thing to do,” said John Hailer, CEO of Natixis Global Asset Management in the Americas and Asia. “Today’s student loan burden is tomorrow’s underfunded retirement problem, so it is imperative for companies to join with policymakers, educators and employees to address this critical issue.”
Natixis was also recently recognized by the White House for its commitment to education and awareness about student loan debt. Natixis is a supporter of the “Student Debt Challenge” initiative, which aims to broaden awareness of federal programs designed to help manage student loan debt. Natixis embraced the program, in addition to its student loan benefit, to help employees and clients understand how to balance savings goals with existing expenses in order to successfully achieve their retirement goals.
*Natixis Global Asset Management conducted a study of 1,000 U.S. investors, 750 being active plan participants and 250 being non-participants. The age groups are broken up as follows: 421 Millennial (18-34 years old), 328 Gen X (35-50 years old), and 251 Baby Boomers (51+). Data was gathered in August 2015, and the minimum income level required for survey respondents was $15,000.
About Natixis Global Asset Management
Natixis Global Asset Management serves thoughtful investment professionals worldwide with more insightful ways to invest. Through our Durable Portfolio Construction® approach, we focus on risk to help them construct more strategic portfolios that seek to endure today’s unpredictable markets. We draw from deep investor and industry insights and partner closely with our clients to put objective data behind the discussion.
Natixis Global Asset Management is ranked among the world’s largest asset management firms.1 Uniting over 20 specialized investment managers globally ($884.9 billion AUM2), we bring a diverse range of solutions to every strategic opportunity. From insight to action, Natixis Global Asset Management helps our clients better serve their own with more durable portfolios.
Headquartered in Paris and Boston, Natixis Global Asset Management, S.A. is part of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Global Asset Management, S.A.’s affiliated investment management firms and distribution and service groups include Active Investment Advisors;3 AEW Capital Management; AEW Europe; AlphaSimplex Group; Axeltis; Darius Capital Partners; DNCA Investments;4 Dorval Finance;5 Emerise;6 Gateway Investment Advisers; H2O Asset Management;5 Harris Associates; IDFC Asset Management Company; Loomis, Sayles & Company; Managed Portfolio Advisors;3 McDonnell Investment Management; Mirova;5 Natixis Asset Management; Ossiam; Seeyond;7 Vaughan Nelson Investment Management; Vega Investment Managers; and Natixis Global Asset Management Private Equity, which includes Seventure Partners, Naxicap Partners, Alliance Entreprendre, Euro Private Equity, Caspian Private Equity and Eagle Asia Partners. Visit ngam.natixis.com for more information.
1 Cerulli Quantitative Update: Global Markets 2015 ranked Natixis Global Asset Management, S.A. as the 17th largest asset manager in the world based on assets under management as of December 31, 2014.
2 Net asset value as of March 31, 2016. Assets under management (AUM) may include assets for which non-regulatory AUM services are provided. Non-regulatory AUM includes assets which do not fall within the SEC’s definition of ‘regulatory AUM’ in Form ADV, Part 1.
3 A division of NGAM Advisors, L.P.
4 A brand of DNCA Finance.
5 A subsidiary of Natixis Asset Management.
6 A brand of Natixis Asset Management and Natixis Asset Management Asia Limited, based in Singapore and Paris.
7 A brand of Natixis Asset Management.