Employee Well-being and Wellness
Employee Well-being and Wellness
Supporting Financial Well-Being
We recognize that fi nancial health is a key pillar of overall well-being. Our programs are built to empower employees with the tools, resources and support needed to plan for today and tomorrow. The Airports Authority has maintained a generous healthcare program, with above average actuarial value and market competitive employee subsidies.
Our approach rests on three core principles:
1. Equitable Compensation
We offer competitive and fair compensation packages that refl ect each employee’ s role, experience and performance. Through recognition of excellence in service, effi ciency and innovation, we strive to reward individual and team contributions equitably. As part of our commitment to transparency and employee empowerment, the Airports Authority issued a comprehensive individualized benefi ts report to all 1,600 + team members. This report detailed each employee’ s salary, health benefi ts, tuition support and additional benefi ts where applicable, ensuring all employees clearly understands the value of their total compensation.
2. Long-Term Planning
Long-term fi nancial stability is a cornerstone of our benefi ts offerings. Full-time employees have access to robust retirement options, including 457( b), 401( a), and a defi ned benefi t pension plan, all designed to provide peace of mind and confi dence in retirement planning. We also offer life insurance and long-term disability( LTD) coverage to support employees through every life chapter. In 2024, the Airports Authority provided targeted education materials to retirement-eligible participants about the advantages of commencing retirement at their normal retirement date rather than deferring until LTD coverage ends which helps employees make informed, fi nancially sound decisions.
Retirement Plan( Pension) Participation General Plan
Police Offi cers & Firefi ghters
Retirement Plan( Pension) Funding Ratios General Plan
Police Offi cers & Firefi ghters
2020 |
2021 |
2022 |
2023 |
2024 |
2,044 |
2,040 |
2,139 |
2,235 |
2,317 |
629 |
645 |
668 |
681 |
684 |
2020 |
2021 |
2022 |
2023 |
2024 |
99.2 % |
101.9 % |
104.3 % |
98.8 % |
89.7 % |
97.8 % |
101.1 % |
104.5 % |
98.9 % |
86.3 % |
3. Income Protection
Life is unpredictable, and when challenges arise, we are here to help our team members. Our long-term disability benefi t provides vital income protection for employees who are unable to work because of illness or injury, ensuring fi nancial security when it is needed most. In addition, the Airports Authority strengthened the integrity of its Defi ned Benefi t Pension Plans by conducting interviews with all active investment managers. This process led to the removal of underperforming managers, reinforcing our commitment to fi duciary responsibility. Valuation reports were completed in alignment with timetables set by audit and fi nance teams, contributing to a clean audit.
COMMUNITY ENGAGEMENT | 2024 IMPACT REPORT 19
METROPOLITAN WASHINGTON AIRPORTS AUTHORITY