Adopting a child is an incredibly personal decision that one might not necessarily consider involving their employer in. But Kenny Lehmann, vice president in Global Equities at Bank of America, did just that, utilizing his company’s extensive family planning benefit program that includes reimbursement of adoption expenses.
Over the course of a year, Lehmann and his wife navigated the complex adoption process, relying on BofA’s benefit, which reimburses adoption expenses up to up to $20,000. Lehmann says he and his wife utilized about two-thirds of that money, and plan to use the rest when they adopt their next child — who will be their sixth.
Lehmann and his wife had four biological sons prior to adopting their little girl. They always knew they wanted to provide a home to a child in need. The support from his workplace was “a game changer,” Lehmann says.
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“The experience I’ve had at Bank of America — the encouragement, the benefits, and the way the importance of family is stressed — it’s been a game changer,” he says. “I'm so incredibly appreciative of the way that the bank has shaped up this benefits program.”
Family planning and adoption benefits are on the rise: 10% of employers offer adoption assistance and other family planning support, according to the Society for Human Resource Management. A further 29% offer employees paid adoption leave. These programs create a more supportive work environment, which encourages positivity, loyalty and productivity among employees, according to SHRM.
For Lehmann, the benefits provided not just financial assistance but helped to alleviate the stress and confusion that can go along with the adoption process.
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“Having the opportunity to have this benefit available, to have the amount of leave that’s available and what it means to have that additional burden off my back, my [adoption] experience has translated into a better working experience,” Lehmann says.
In the latest Employee Benefit News podcast, Lehmann shares his powerful adoption journey and why Bank of America’s specialized benefits helped make this life event possible.