SAN ANTONIO – USAA is making two major changes to its employee benefit package in 2017, the company announced Tuesday.

According to a news release, employees will see their minimum pay rise to $16 per hour, or more than $33,000 per year.

Related: USAA makes 2017 Fortune '100 Best Companies to Work For' list

The financial services provider will begin offering a new parental benefit that will allow eligible new parents with up to 12 weeks of full pay when a child joins the family either by birth or adoption, effective in July.



"These expanded benefits are about creating conditions for our entire team's success," said Mark Reid, USAA executive vice president for human resources. "This helps USAA to bring in and keep a talented and diverse group of people who feel their best, while they fulfill a noble mission -- serving our members and each other."



Beyond wages, USAA offers a wide range of benefits to all employees in all areas of the organization. The most notable benefits include:

Eligibility for an annual bonus: 16.8 percent for 2016 performance

Holiday bonus equal to two weeks of pay

Matching 401(k) plan contribution of dollar for dollar up to 8 percent

Annual retirement savings plan contribution of between 3 percent and 9 percent, no employee contributions required

Reduced premiums for health insurance for engaging in healthy behaviors, including eating well, exercising and taking preventive health care actions

Access to free onsite fitness/health centers and offsite fitness premium reimbursement

Up to $10,000 a year in tuition assistance to pursue any degrees, regardless of level or field of study

Time-off policy, including 16 hours a year for volunteering with organizations of an employee's choice

Healthy food discount of 50 percent at USAA cafeterias

Flexible work environment, including a growing number of home-based employees and work-from-home options

USAA made Fortune's "100 Best Companies to Work For" list last month.