Sallie Mae says expanding paid parental leave benefit
Sallie Mae is marking open enrollment season this year with a new, more flexible parental leave benefit that will offer as much as 12 weeks of leave at full pay for employees who are new or adoptive parents. The new benefit covers babies born by the biological mother or a surrogate, and adopted children age 5 or younger. For a primary caregiver, the new benefit is 12 weeks of paid leave. The benefit for the secondary caregiver is four weeks of paid leave. Sallie Mae employees with six months of service who work at least 24 hours per week are eligible for the new benefit, which is retroactive to Jan. 1, 2016. Employees on parental leave continue to be eligible to participate in the company's other employee benefit programs, and all benefit elections and contributions remain in effect. The company's parental leave benefit runs concurrently with any short-term disability or Family Medical Leave Act benefits for which an employee may be eligible.