This report analyzes and compares BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM's employee health insurance and employee benefits with its industry and in DC State.
Providing a smart employee benefits package is critical for attracting top talent and retaining valuable employees. Today, employee benefits play a vital role when candidates consider accepting a job offer.
Many companies offer today over-the-top perks, like yoga classes, haircuts, catered meals, and acupuncture. In this report, we focus however on traditional benefits. It's a work in progress that we will expand and update on a regular basis.
This report contains the following sections
Career benefits
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has top-notch career benefits that have a great impact on employees' career. There are several coaching and mentoring programs, as well as onboarding program for new employees to help them fit in the BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM believes that an excellent coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM encourages its team members to work on their existing skills and gain new ones continually. By providing good development resources, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM supports their team members on their journey to perfection. Employees have a wide range of good resources at their disposal for professional and personal growth.
- GED REIMBURSEMENT: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers a wide variety of superb courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM to grow as leaders and learn how to make tough calls.
- ONBOARDING: Whether the newcomer is an entry-level employee or a seasoned manager, coming to a new place of work is never easy. That's why BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers an outstanding Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM knows that dedicated team members are hard to come by so it has an outstanding Recognition program for those who stand out and continually contribute to BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.
- TUITION REIMBURSEMENT: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has a top-notch Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.
Benefit | BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM | Industry | DC |
|---|---|---|---|
| Career planning Benefits | |||
| Coaching and mentoring Benefits | |||
| Development resources Benefits | |||
| GED reimbursement Benefits | |||
| Leadership programs Benefits | |||
| Onboarding Benefits | |||
| Recognition programs Benefits | |||
| Tuition reimbursement Benefits |
Healthcare benefits
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers top-notch health benefits to its employees, of which some can be used by employee's family members. Besides an affordable healthcare insurance and a dental plan that includes recounstruction surgery, team members can enjoy BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM's top-notch maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its remarkable counseling program enables the team members to talk with experts 24/7. Employees can receive practical fitness and nutritional tips, talk about their problems, and learn effective techniques for dealing with stress and anxiety. Team members can count on confidentiality at all times.
- DENTAL PLAN: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM cares about its team members' dental health so it offers an excellent dental plan for employees and their family members that fully covers all sorts of preventative dental care as well as reconstructive surgeries and other orthodontia services.
- HEALTH INSURANCE: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers a solid health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM does not offer health plan incentives.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers a good healthcare spending account where employees can deposit a part of their paycheck, free of taxes, and use it to pay hospital bills or other eligible expenses. Any remaining funds left at the end of the year are forfeited.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has created a top-notch maternity support program to support its expecting team members.
- TELEHEALTH: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM does not offer telehealth.
- VISION PLAN: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has an impressive Vision Plan for its team members who can count on coverage of a wide variety eye exams and procedures, as well as vision-related medical devices.
Benefit | BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM | Industry | DC |
|---|---|---|---|
| Counseling Benefits | |||
| Dental Plan Benefits | |||
| Health Insurance Benefits | |||
| Health Plan Incentives Benefits | |||
| Healthcare Spending Accounts Benefits | |||
| Maternity support program Benefits | |||
| Telehealth Benefits | |||
| Vision Plan Benefits |
Financial benefits
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers top-notch financial benefits for employees and their family members. A top-notch 401(k) plan makes sure that employees have a secure retirement, while a generous, fully paid parental leave allows expecting mothers and fathers to enjoy their child's first year. Along with paid vacations, employees can enjoy fully paid commuting as well.
- 401(K) PLAN: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has a first-class 401(k) plan as it realizes that many of its team members are concerned with the future and want to retire with a sizable retirement fund. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM provides a 401(k) plan where employees can rest assured that the money they put aside will allow them to live comfortably in retirement. Employees are encouraged to invest up to 5% in 401(k) by a first-class BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has Matching program that matches 75% of employees' contributions. Whatever BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM contributes, it becomes 100% vested after a 2-year period after which the employees can keep even if they leave BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. Recognizing that every team member is unique, with specific needs and goals, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM keeps their members informed about their 401(k) options.
- ADOPTION ASSISTANCE REIMBURSEMENT: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has an extraordinary Adoption Assistance Reimbursement program. It is one of the best available as it covers various court fees and attorney costs for team members, even if the child comes from a foreign country.
- BONUS PAY: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers remarkable bonuses to team members who excel in their field of work, provide extraordinary results for BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, and encourage others to do the same.
- CHILDCARE DISCOUNT: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers a great discount for primary childcare to its team members and enables them affordable prices.
- COMMUTER BENEFIT: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers exceptional commuter benefits for its team members and enables them to pay for all sorts of transportation fees, regardless of their distance from the place of work and the costs involved.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has a suitable daycare spending account that fills from each paycheck before taxes. This allows team members to partially cover costs of daycare while they are at work.
- DISABILITY: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has a valuable disability program in place that takes care of team members who sustained an injury or suffer from an illness that causes them disability. Eligible team members are offered a valuable coverage for a short-term disability that replaces a certain percentage of salary for a certain period of time.
- LIFE INSURANCE: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM offers an impressive life insurance program. It is one of the best in the country and offers free life insurance for team members. The policy pays up to three years worth of salary to beneficiaries. This impressive life insurance package contains dependent policies as well.
- PAID TIME OFF: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM realizes that optimal productivity can be achieved only if it enables paid vacation for its team members. That's why BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has a superb vacation program of its employees with a reasonable number of days that can be spent anytime.
- PAID VOLUNTEER TIME OFF: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM recognizes the importance of giving back to the community so it offers a good volunteer time off program for its team members. Employees are encouraged to spend up to 20 working hours per year, paid by BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM, on volunteer work of their choice.
- PARENTAL LEAVE: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM has an outstanding parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM | Industry | DC |
|---|---|---|---|
| 401(k) plan Benefits | |||
| Adoption assistance reimbursement Benefits | |||
| Bonus pay Benefits | |||
| Childcare discount Benefits | |||
| Commuter benefit Benefits | |||
| Daycare flexible spending account Benefits | |||
| Disability Benefits | |||
| Life insurance Benefits | |||
| Paid time off Benefits | |||
| Paid volunteer time off Benefits | |||
| Parental leave Benefits |
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