Farmers Mutual Insurance Company of Nebraska
Company Facts
- Location: Lincoln, Neb.
- Type of business: Property and casualty insurance
- Number of employees: 230
- Founded: 1891
- Web site: www.fmne.com
Benefit highlights
- 100 percent employer-paid medical insurance premiums for employees; 50 percent employer-paid medical insurance premiums for dependents
- 100 percent employer-paid medical premiums for retirees
- 401(k) plan with a 100 percent match up to 3 percent of pay and 50 percent match on the next 2 percent of pay; average deferral rate of 8 percent
- Defined benefit plan
- 100 percent employer-paid premiums for short- and long-term disability insurance
“We invest a lot of time and money in training our employees, and it’s beneficial for us to retain the knowledge that develops over time. Having a strong benefit plan supports that kind of strategic look at our workforce.”
–Mark Walz, president, treasurer and chief operating officer, Farmers Mutual Insurance Company of Nebraska
Percent of employees participating in 401(k) plan: 83%
How they've continued to protect the financial security of employees in this economy:
Despite a 30 percent increase in premiums, Farmers Mutual maintained its benefits, including its generous healthcare package with 100 percent employer-paid premiums for employees/retirees and 50 percent employer-paid premiums for dependents.
Other interesting facts:
- Makes a financial planner available to meet one-on-one with employees
- Offers health insurance for retirees, paying 100 percent of premiums for retirees and 50 percent of premiums for retirees’ spouses
James Wagner CLU ChFc, of Mass Mutual Life Insurance Company, nominated Farmers Mutual Insurance Company for this recognition.
Other financial professionals who consult with Farmers Mutual Insurance Company:
For health and dental insurance: James Schulz, president, Midlands Financial Benefits
Why Judges Selected Farmers Mutual Insurance Company of Nebraska
Watch a video of comments from 10 Best judge Dallas Salisbury.
Read the transcript
“Farmers Mutual Insurance Company of Nebraska does every conceivable thing an employer can do to help an individual—and that individual's family—have health and financial security. They are clearly one of the 10 best in the nation.”
– Dallas Salisbury, 10 Best judge and president & CEO, Employee Benefit Research Institute (EBRI)
