Compensation
Pacific Life & Annuity's compensation philosophy is to link performance and pay. In addition to a competitive base salary, all employees share in the Company’s financial success through a variety of variable incentive pay programs.
All employees participate in either our Variable Incentive Pay (VIP) Plan or a Special Incentive Plan:
VIP Awards are calculated annually by considering two performance factors:
The organization's success in meeting its annual goals and each individual's personal performance.
Specialized Incentive Plans - these plans are designed to award employees based on achievement of specified personal and/or organizational goals.
Benefits
Pacific Life & Annuity offers group insurance coverage to provide for the financial security of employees and their families by providing a benefit dollar allowance to purchase coverage that is right for them.
Retirement Plans
Defined benefit plan - has a cash balance approach with a company contribution of at least 4% of employee compensation which grows at a fixed rate of interest.
Defined contribution plan (401K plan)- employee contribution rate of 2-35% and the company matches 75% of the first 2-6% of employee contributions with company stock through an Employee Stock Ownership Plan (ESOP).
Career Development
Pacific Life & Annuity encourages employee training and development. To assist in the learning process, we have the Pacific Life & Annuity Academy, a training facility located in Newport Beach. Our goal is to provide training solutions for our employees in preparation for the challenges of today's dynamic work environment. Course offerings range from PC and Advanced Technology classes, using our state-of-the-art technology, to professional development, industry education and leadership programs.
Employee Programs
Pacific Life & Annuity provides a variety of programs, and services to assist employees with personal and professional development. We offer variable work schedules, a wellness program, sports activities/teams, educational reimbursement and child scholarship programs. In addition we also offer counseling to assist employees with family and work related issues.
Other Services/Programs
Pacific Life & Annuity offers credit union services, free parking, a non-smoking environment, fitness center discounts, travel and entertainment discounts, and a business casual dress environment.
Pacific Life & Annuity is an Equal Opportunity and Affirmative Action Employer.