Biglaw

Biglaw Firm Announces Great New Family Friendly Benefit

Helps all employees save for college expenses.

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Good news for Akin Gump partners and employees — it’s now easier for those at the firm to save for future education costs. The firm recently announced a new benefit for employees, a 529 College Savings Plan which allows folks to start saving for those educational expenses through automatic payroll deductions.

According to the firm, the program will be rolled out through SoFi and allow employees to save for a variety of educational expenses.

Akin Gump is now among the very few large law firms offering a 529 College Savings Plan benefit to its partners and employees. Through this new benefit, plans may be opened by partners and employees and may be used for an array of education expenses that extend beyond tuition. Employees with existing 529 plans may set up deductions to begin investing into the plan, while those without existing plans may use SoFi’s Savings and Selections Tool to identify the plan that best fits their needs.

Akin Gump chief human resources officer Meg Meserole said of the new program:

“We recognize that paying for college and all the expenses it entails can be a source of major financial stress, particularly if families have not prepared in advance. That is why we are so excited to partner with SoFi on this new benefit. Eligible employees can identify a plan and investment amounts that work best for them and contribute through convenient payroll deductions, allowing them to prepare for this major life expense.”

This new benefit is part of the firm’s recent push to increase family friendly benefits for all of their employees. They’ve expanded parental and family leave for staff (to make it commensurate with attorneys’ time off), and launched and adoption, surrogacy, and fertility benefits.

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headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

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