This package of employee programs helps in diversifying some investments; loans opportunity, building retirement security and allowing the individual flexibility of financial initiatives based on specific needs.
International Rectifier 401(k) Plan
Participation is open to all employees of International Rectifier. Participants may defer between 2% and 40% (in whole percentages) of earnings on a pre-tax basis, subject to the IRS maximum. Additionally, employees may defer between 2% and 40% on an after tax basis up to a maximum of $11,000. Currently, IR matches 150% of your first $200 in contributions and 50% of the next $5,400 in contributions, subject to an annual maximum of $3,000.
International Rectifier partners with Western Federal Credit Union offering a complete line of financial products and services.
Flexible Spending Accounts
This program allows the employee to pay for certain types of un-reimbursed eligible health care and dependent care expenses with pre-tax dollars, thereby reducing taxes and increasing disposable income.
Group Legal Services / Auto / Home Insurance
Provides employees with the ability to purchase Auto, Home and/or Group Legal Services insurance plans through payroll deductions. Cost of the plan for each line of coverage differs depending on each individual's circumstances, including state of residence. Eligibility, enrollment and product information are Web based.