Figuring it Out

  • New responsibilites
  • Gaining confidence
  • Need some help

It’s your time to figure it out! You want to be responsible with your money but have some fun, too. So live your life today ... but plan for the adventures ahead with a roadmap for your financial wellbeing — from now into the future.

To be happy, healthy, and ready for tomorrow, you need to be confident about your finances. Explore the following benefits and resources that are designed to support your specific needs.

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Save for a rainy day

Are you prepared for an unplanned expense? Life is full of unknowns, and having an emergency fund can help keep you secure. Make saving automatic by setting up separate payroll direct deposits to your checking and saving accounts. You can update your personal information by going to the US Infonet homepage, scroll down and clicking the MyHub HR Processes link. From your MyHub Home page, select My Profile within the MyInfo section. From your Info page, select "Personal Information" from the banner.

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Plan for your education and manage student loans

  • You have access to tuition assistance for company related undergraduate (annual maximum of $8,000) and graduate degree (annual maximum of $10,000) programs for Management employees. National Grid provides $3,000 toward company related undergraduate and $4,000 toward graduate degrees for Local 1049, Local 101 and Local 3.
  • Student loan repayment options are also available to you through the Student Loan Repayment Program. Through this valuable program administered by Tuition.io, the company will make payments toward the principal portion of your loans. (For Management Only)
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Get more out of life — at a discount

Have some fun and stretch your paycheck with exclusive discounts at popular retailers and service providers, including mobile discounts, an electric car program and employee vehicle purchase program.

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Save money on your daily commute (For Management, Local 101, Local 3 and Local 97c Only)

Pay for your commuting costs, like transit passes and parking fees, by setting aside before-tax dollars from your paycheck and getting reimbursed for expenses — it’s convenient and saves you money!

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Consider enrolling in the Consumer Driven Health Plan (CDHP) with a Health Savings Account (HSA)

The CDHP has a higher deductible, but it costs less from your paycheck and is the only plan that pairs with a personal tax-free Health Savings Account (HSA). An HSA not only saves you money on eligible health care expenses, but it has triple-tax advantages: Your contributions go into your account tax-free, can be withdrawn tax-free for qualified medical expenses and earn interest tax-free. What’s more, National Grid makes contributions to your account to help you grow your balance.

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Build your credit

A higher credit score gives you more financing options at better rates when you’re ready to make a big purchase, like a new car or home. Many major credit card companies offer free monthly FICO credit scores to members, so you can find out where you stand. It’s also a good idea to review your credit report for accuracy every 12 months through www.annualcreditreport.com.

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Start saving for your future

It's never too early to start saving. The sooner you start, the more time your savings have to grow — and time can make a big difference, potentially hundreds of thousands of dollars more if you start contributing in your 20s instead of waiting until your 30s. Invest in your 401(k) account through Vanguard today — and earn a matching company contribution from National Grid. Make sure you're taking advantage of the match…otherwise you’re turning down free money!

In addition, to help you save more, you can have your pre-tax contribution rate automatically increased each year. Simply decide how much more you’d like to save annually — from one to three percentage points — and the month you’d like to have your increases take effect.

The Vanguard "Lessons" (for example, How To Handle Financial Emergencies and How To Save For College) on their website offer a comprehensive collection of resources, tools, and calculators to help you balance your retirement saving priorities whether you are looking to get started, want to stay on track or are looking to invest your retirement account funds.

The website has a retirement modeler that allows you to project your retirement savings as well as estimate your expenses in retirement to ensure your financial future is on the right track. Explore the Vanguard website to learn more about balancing your financial needs.

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Get a better deal on car, home or pet insurance

Protect your car — and save money — with discounted coverage through the group auto insurance program. You can call 1-855-861-4282 for renter’s and homeowner’s insurance.

For Management employees, click here.

Your pet’s health is also important to you, but the cost of helping him or her if something goes wrong is hard to think about. Consider pet insurance, which provides coverage for veterinary care. (For Management Only)

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Reach out for a little help

As you start your career, it’s only natural to feel a little overwhelmed. If you’d like some support, the free Employee Assistance Program (EAP) is here to help you. The EAP, provided by Corporate Counseling Associates, is a confidential resource that provides assistance with a variety of personal and work/life concerns including alcohol and substance abuse and makes referrals to professionals like counselors or financial planners.

Access free, confidential counseling or assistance by phone at 1-800-833-8707 or online (Company Code: National Grid).

National Grid has several Employee Resource Groups that help maintain an inclusive workforce. The ERGs allow you to connect with other employees who have a similar background and interests as you. They can be a good resource if you need some help. To find out more about the ERGs, go to the Infonet.

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