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Work and Life Balance

Work and Life Balance
Sovereign recognizes the challenges Team Members face in meeting life's demands. We pride ourselves in offering benefits that bridge the gap between work and home.
Transportation Program
If you take public transportation, ride in a vanpool, or pay to park near work (or park near public transportation), participating in Sovereign's Transportation Program could save you time and taxes by taking advantage of IRS regulations that allow you to use pre-tax income to pay commuting and/or parking costs. The money you set aside through this account allows you to fund some or all of your transit expenses with pre-tax dollars through payroll deductions. If your transportation/parking vendor participates in the Transit Program, your parking or transit pass can be mailed directly to your home.

This program also allows you to enroll, change, or cancel your election on a monthly basis, and offers access to your account online through ADP's Commuter Service Department.

MetPay Auto and Homeowners Insurance
The MetPay program contains many attractive features, including access to special group rates, quality coverage, a payroll deduction of the premium, and a variety of policy discounts designed to help reduce your insurance costs.

Employee Assistance Program (EAP)
Through our partnership with Carebridge, Team Members and their eligible dependents are entitled to 6 free confidential sessions per episode for evaluation, short-term counseling, and/or referral to your medical carrier.

Work/Life Referral Services
Sovereign has partnered with Carebridge to provide a wide range of life management resources. From referral services, articles, and hands-on counseling, Carebridge offers resources for parenting and child care, education and college planning, finance management, adoption, elder care, and much more.

Fitness Program
Sovereign's partnership with GlobalFit provides a discount wellness benefit with savings of up to 60% on monthly club fees for Team Members and their families. This program offers access to a national fitness and health club network.

Healthcare-Related Resource
Sovereign has partnered with Health Advocate to assist team members as they navigate through the healthcare environment. When team members call Health Advocate, they will be assigned to a Personal Health Advocate who will assist them with care coordination, claims assistance, grievance advice, benefit coverage clarification, and senior care, as well as help them locate a physician/specialist. This benefit is unique and is provided at no cost, and can be used if the issue is for Team Members, their spouse or domestic partner, child, parent, or parent-in-law. Team members may use this service even if they do not enroll in Sovereign's healthcare plan.

Adoption Assistance
This family-friendly policy provides financial assistance of up to $3,000 per Team Member who is adopting a child. Assistance in the adoption process is also available to the Team Member and their family through Carebridge Corporation, Sovereign's work/life services partner.

Computer Purchase Plan
Sovereign provides reimbursement of 20% of the purchase price of a computer or computer equipment. The maximum reimbursement is $250. This benefit is available once every 3 years to Team Members with at least 6 months of service.

Vacation Travel Assistance
Sovereign's Vacation Assistance program offers an Internet-based site featuring thousands of cruises and vacation packages, unique promotional opportunities, and the ability to earn a 5% discount on future travel.
This overview is intended to highlight the key provision of Sovereign Bank's benefits plans and/or policies. Complete details, including eligibility criteria where applicable, are contained in the official plan documents or policy, which govern in all cases. The company reserves the right to change or end the plans at any time with or without notice.
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