Andesa Introduces Employee Student Loan Repayment Benefit

Written by: Tammy Staudt

Andesa Services, Inc., the leading provider of cloud-based Policy and Plan Administration solutions to life insurance, annuity carriers and benefit participants, announced today that they have signed with Gradifi to offer a Student Loan PayDown Plan (SLP Plan®) benefit.

By signing with Boston-based Gradifi, an innovator in employee benefits for U.S. employers, Andesa is joining the ranks of some of the most progressive companies in the country, companies like Peloton and Honeywell, leading the nation in providing next generation benefits to the new generation of workforce.

Beginning January 1, 2020, Andesa will use Gradifi’s intuitive and secure platform to contribute directly toward employees’ student loan principal on a monthly basis. These supplemental contributions help Andesa employee-owners potentially shave years off their loans and alleviate a significant source of workplace stress.

An employee led committee undertook a comprehensive review of Andesa’s compensation and benefits offerings this past year. “Through conversation with some of our young professionals, this benefit became a priority heading into 2020,” said Ron Scheese, President & CEO. “We are excited to team up with Gradifi’s innovative solution to ease our administrative burden and provide relief to our employee-owners.”

“We want to build a brighter future for the workforce today, and we know that starts with providing greater financial wellness. Employers have a unique opportunity to make a meaningful impact in the lives of their employees based on some of their most pressing financial concerns,” said Kate Winget, SVP of Gradifi. “Andesa’s move to offer Gradifi’s SLP Plan as a benefit to their employees shows their commitment to helping alleviate that burden for their employees, as well as exhibiting leadership for others to follow suit to tackle this national crisis.”

About Andesa:
Andesa Services provides comprehensive, integrated policy administration, plan administration and support solutions for life insurance and annuity carriers and producers. Andesa began as a pioneer in the field of COLI/BOLI policy administration. Today more than 30 years later, Andesa’s integrated approach to insurance and plan administration results in efficiency gains, reduced hardware costs, mitigated compliance risk and improved market response. The Company offers a comprehensive suite of services for policy and plan administration in a secure, private cloud environment. Andesa partners with numerous insurance companies, including 6 of the top 13 life and annuity carriers, along with several top producers. The Company’s highly-experienced team of U.S.-based professionals provides insurers and producers large and small with administrative support for complex plan and product offerings.

About Gradifi:
Gradifi is an innovator in employee benefits for US employers. Gradifi’s mission is to help employers build loyalty with their workforce by providing employee benefits that positively impact their employees’ financial well-being. Gradifi offers a single-platform solution to allow employers to offer employees student loan refinancing opportunities, and employer-sponsored contributions to student loans and 529 college savings plan accounts. The E*TRADE Financial family of companies provides financial services, including trading, investing, banking, and managing employee stock and student loan benefit plans. Employee stock and student loan benefit plan solutions are offered by E*TRADE Financial Corporate Services, Inc.

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