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Total compensation

Our pay and benefits are major components of our total compensation package. We believe in supporting our employees by offering a comprehensive, innovative benefits package.

Compensation

We often say that it's the employees who make SAIF the successful industry leader it is—and has been for nearly 100 years.

That's why we feel strongly about appropriately rewarding employee performance. At SAIF, we do that through our pay-for-performance-based compensation program. This innovative program is aimed at attracting, retaining, and motivating skilled, high-performing employees to give their best efforts.

Our compensation program includes:

  • Competitive salaries
  • Performance-based salary adjustments
  • Variable lump-sum opportunities
Benefits

Because individual needs can differ, our total compensation program provides a variety of benefits to support your well-being.


SAIF provides these benefits at no cost to you. You are eligible for the following benefits on your date of hire:

  • Medical, dental, and vision plans | All medical, dental, and vision premiums are fully paid for regular, full-time employees. (A premium cost-share applies to part-time employees, some spouses/domestic partners, and a premier medical plan and dental plan.) You will have multiple medical and dental plans to choose from.
  • Life insurance and long-term disability coverage | Coverage is equal to 100 percent annual salary for life insurance, 60 percent for disability.
  • Employee health clinic | An onsite clinic in Salem is provided for employees and eligible family members or domestic partners.
  • Employee assistance program | Confidential counseling services are provided free of charge for up to seven visits per calendar year for you, your dependents, and all household members.

The following optional benefits are also offered to employees; some have associated costs.

  • Legal plan | You can receive certain legal services from a network of attorneys.
  • Commuter expense reimbursement account (CERA) | Similar to the flexible spending account, a CERA can cover qualified mass transit expenses, such as a transit pass or van pool.
  • Deferred compensation | You may set aside a portion of your gross earnings in a tax-deferred retirement savings account with variable return investments.
  • Direct deposit | SAIF's payroll department will work with credit unions and other financial institutions that have direct deposit capabilities. Credit unions and other financial institutions may have additional eligibility requirements for membership and loans.
  • Educational assistance program | This program offers reimbursement for tuition and certain other expenses for approved coursework (dollar limits may change annually.) You are eligible after 18 months of employment.
  • Flexible spending account | You can establish separate flexible, tax-exempt accounts for eligible medical, dental, and vision care, as well as for dependent (child) care.
  • Life insurance | This option offers voluntary term life insurance, accidental death and dismemberment, and optional dependent life insurance.
  • Short-term disability insurance | You can purchase short-term disability insurance at any time and can choose a monthly premium amount that fits your budget as well as your needs.
  • Long-term care | This benefit offers long-term care at home or in a facility if you or a family member need assistance with activities of daily living.
Paid time off

An appealing part of any good benefit package is paid time off. Our employees' values—spending time with family and friends, and having a balance between life and work—reflect our values, too.

  • Holiday pay | SAIF recognizes 11 paid holidays. You are eligible for paid holidays from the time you are hired.
  • Vacation leave | You will begin accruing "vacation leave" hours on your date of hire and continue to accrue them each month based on the schedule listed below. Employees also receive two personal days. Accruals are prorated for part-time employees.

Years of service

Days of vacation

Date of hire to 5 years 15 days
6 to 10 18
11 to 15 20
16 to 20 22
20+ 24
  • Sick leave | You will begin accruing sick leave on your date of hire and accrue eight hours per month. Accruals are prorated for part-time employees.
  • Other types of leave | SAIF provides other leave benefits, such as family and medical, bereavement, jury, and military. The date of eligibility varies with the benefit.
Retirement

Once you come to SAIF, you may never want to leave, but sooner or later you'll start wondering about retirement benefits. We care about our employees' financial security, so we offer excellent plans to help them build it.

Active PERS/OPSRP members become eligible for retirement benefits at your date of hire. All other new employees become eligible the beginning of the month following six full calendar months of employment.

The highlights:

  • Membership in either Oregon Public Service Retirement Plan (OPSRP) or Public Employees Retirement System (for existing PERS members only), and an Individual Account Plan (IAP).
  • Deferred compensation: You may set aside a portion of your gross earnings in a tax-deferred retirement savings account with variable return investments.