Goldman Sachs offers staff fertility treatment benefits

The new perks aim to help women, same sex couples, and those struggling to conceive

Goldman Sachs offers staff fertility treatment benefits

Goldman Sachs is offering to pay for the fertility treatment of employees who want to start a family.

In a memo to staff, the investment bank announced it is giving prospective parents up to US$20,000 to finance the purchase or extraction of eggs as part of a fertility treatment plan.

The new benefits are designed to help increase the chances of parenthood for women who want to have children later in life, same sex couples, and those who are struggling to conceive.

The company said the initiative is meant to allow workers to “better manage [their] commitment to their careers while starting, growing and supporting a family.”

As part of its “pathway to parenthood” program, the bank will offer staff up to $20,000 to buy donated eggs. It will also provide up to $10,000 to cover the cost of retrieving eggs, which involves having would-be mothers receive a series of injections.

READ MORE: JP Morgan to offer fertility benefits to LGBTQ+ staff

Employees will then have to cover other treatment expenses such as long-term freezing and storage, which could cost up to several hundred dollars a year.

Goldman Sachs officially launched the new benefits on Nov. 1. It is the first time the company has offered financial aid to buy and retrieve eggs.

In 2018, the investment bank extended its employee benefit plan to cover IVF fertility treatments and sex reassignment surgery.

Goldman also supports staff working abroad by helping them send breast milk for their babies back home. Employees who are nursing while on assignment will receive freezing kits, which they can use to package expressed milk and have it delivered by courier to their families at home.

Prospective parents can also avail of the company’s financial aid for surrogacy. Workers will receive up to $20,000 to pay for a surrogate mother to help them conceive a child.

The bank also offers staff up to $10,000 to cover adoption costs.

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