EY (formerly Ernst & Young) just announced a new policy to expand its parental benefits to over 35,000 U.S. employees.
Coming on the heels of Coca-Cola's gender neutral paid leave policy, EY's plan is to offer both new mothers and fathers up to 16 weeks of fully paid parental leave for birth, adoption, surrogacy, foster care, or legal guardianship, according to a company statement. This is an expansion on the company's current policy of 12 weeks for mothers and six for fathers.
As of January 1, 2017, EY will also offer financial assistance of up to $25,000 per family for adoption, advanced reproductive technology procedures (ART) including for surrogacy, and medically necessary egg and sperm freezing. The new policy increases adoption benefits and makes ART and/or surrogacy benefits available to both same sex and opposite sex couples. LD