American Family Insurance Employee Benefit: Pension Plan | Glassdoor

American Family Insurance Pension Plan

Updated Mar 29, 2016

85 employees reported this benefit

3.6
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Employer Summary

American Family also invests in your future with a Cash Balance Employee Pension Plan. All American Family employees age 21 or older become participants in the plan after one year of service. After three years of service, the benefit is fully vested and available for a future payment. The cash balance pension plan is a defined-benefit plan in which each employee has an account that is credited with a specific percentage of eligible pay each year, depending on age and years of service. The account grows with interest until the employee withdraws the balance upon retirement or leaving the company after becoming vested. Best of all, it's completely company funded and requires no contributions from you.


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Employee Comments

Showing 1–10 of 12
  • Dec 17, 2019
    StarStarStarStarStar Former Automation Developer in Madison, Wisconsin

    must wait 3 years ti get it.

  • May 15, 2019
    StarStarStarStarStar Former Auto Claim Representative in Madison, Wisconsin

    A 401K was offered in addition to a pension plan based on number of years with company. Unsure of how many years had to be with company before pension plan was activated.

  • Mar 28, 2019
    StarStarStarStarStar Former Physical Damage Field Claim Manager in Chicago, Illinois

    You have to keep an eye on it.

  • Feb 06, 2017
    StarStarStarStarStar Former Employee in Eden Prairie, Minnesota

    Company matched 401k towards retirement.

  • Dec 04, 2016
    StarStarStarStarStar Former Sr property desk adjuster in Parker, Colorado

    They have one at least

  • Sep 20, 2016
    StarStarStarStarStar Current Employee in Madison, Wisconsin

    They have a pension plan...to me that is big in and of itself.

  • Aug 24, 2016
    StarStarStarStarStar Former Call Center manager in Madison, Wisconsin

    Very fortunate to have a great benefit

  • Mar 15, 2016
    StarStarStarStarStar Current Employee in Madison, Wisconsin

    They actually have a pension, that's a significant amount if you work there for a while

  • Sep 20, 2015
    StarStarStarStarStar Current Customer Service Representative/Sales in Salt Lake City, Utah

    There is not a pension plan.

  • Jul 13, 2015
    StarStarStarStarStar Current Employee in Pewaukee, Wisconsin

    A great overall benefit to have.


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