This report analyzes and compares FEDERAL RESERVE BANK OF BOSTON's employee health insurance and employee benefits with its industry and in Massachusetts 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
FEDERAL RESERVE BANK OF BOSTON 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 FEDERAL RESERVE BANK OF BOSTON. top-notch tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FEDERAL RESERVE BANK OF BOSTON continually evaluates its team members to determine the potential and direction of employees' careers. The outstanding tools that FEDERAL RESERVE BANK OF BOSTON uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: FEDERAL RESERVE BANK OF BOSTON believes that an impressive coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: impressive development resources are what allows FEDERAL RESERVE BANK OF BOSTON to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in impressive workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: FEDERAL RESERVE BANK OF BOSTON has a valuable GED reimbursement policy for its team members and participates with 1/4 of the costs for obtaining a GED.
- LEADERSHIP PROGRAMS: FEDERAL RESERVE BANK OF BOSTON offers a wide variety of superb courses and seminars for every team member who aspires to a leadership position. Employees are encouraged by FEDERAL RESERVE BANK OF BOSTON to grow as leaders and learn how to make tough calls.
- ONBOARDING: FEDERAL RESERVE BANK OF BOSTON offers a first-class Onboarding program for its new team members. Employees receive a personalized support in an effort to bring them up to date and successfully integrate them into existing teams and projects.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, FEDERAL RESERVE BANK OF BOSTON implemented a valuable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FEDERAL RESERVE BANK OF BOSTON has a good Tuition Reimbursement Program and participates with up to 25% of the costs for team members who want a job-related certificate or a degree.
FEDERAL RESERVE BANK OF BOSTON
|Career planning Benefits|
|Coaching and mentoring Benefits|
|Development resources Benefits|
|GED reimbursement Benefits|
|Leadership programs Benefits|
|Recognition programs Benefits|
|Tuition reimbursement Benefits|
FEDERAL RESERVE BANK OF BOSTON offers superior 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 FEDERAL RESERVE BANK OF BOSTON's superior maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FEDERAL RESERVE BANK OF BOSTON has an outstanding counseling program for its employees and their family members. Team members are encouraged by FEDERAL RESERVE BANK OF BOSTON to talk freely with experts about everything that bothers them. Whether it's something at the workplace or something at home, experienced counselors are there to help. This outstanding counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: Team members at FEDERAL RESERVE BANK OF BOSTON have a first-class dental plan at their disposal and can count on 100% coverage for preventative dental care, as well as some more complex dental procedures. FEDERAL RESERVE BANK OF BOSTON partially pays for dentures and braces as well.
- HEALTH INSURANCE: FEDERAL RESERVE BANK OF BOSTON offers a suitable health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: FEDERAL RESERVE BANK OF BOSTON is aware of the fact that a healthy employee is a productive employee so it offers outstanding health plan incentives for its team members. Some of the perks are lowered premium rates, individual consultations with nutritionists and physicians, and regular checkups.
- HEALTHCARE SPENDING ACCOUNTS: To financially help its team members with medical emergencies, FEDERAL RESERVE BANK OF BOSTON offers a suitable 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: FEDERAL RESERVE BANK OF BOSTON has a valuable maternity support program with helpful resources for its expecting team members in an effort to make their pregnancy go as smooth as possible.
- TELEHEALTH: FEDERAL RESERVE BANK OF BOSTON has an excellent telehealth policy that provides its employees and their family members with a great variety of fully covered telehealth services from health professionals all over the country. This way, employees can get medical help even in the middle of the night.
- VISION PLAN: FEDERAL RESERVE BANK OF BOSTON offers a valuable Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
FEDERAL RESERVE BANK OF BOSTON
|Dental Plan Benefits|
|Health Insurance Benefits|
|Health Plan Incentives Benefits|
|Healthcare Spending Accounts Benefits|
|Maternity support program Benefits|
|Vision Plan Benefits|
FEDERAL RESERVE BANK OF BOSTON 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: FEDERAL RESERVE BANK OF BOSTON knows how important it is to think about retirement and start saving on time. That's why it offers a suitable 401(k) plan that enables every team member to build a decent retirement fund at their own pace. Team members are allowed to put aside up to 4% of their salary and FEDERAL RESERVE BANK OF BOSTON will match 50% of it. The employees can choose from multiple investment plans, according to their wishes and lifestyles. For those who are not sure about their investment options, FEDERAL RESERVE BANK OF BOSTON provides resources which will help team members decide what to do with their 401(k) plan. FEDERAL RESERVE BANK OF BOSTON offers a suitable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: FEDERAL RESERVE BANK OF BOSTON has a first-class Adoption Assistance Reimbursement program in place for employees who are planning to adopt a child. Most of the adoption fees are eligible to be reimbursed by FEDERAL RESERVE BANK OF BOSTON.
- BONUS PAY: FEDERAL RESERVE BANK OF BOSTON has an exceptional bonus plan. It makes sure that hardworking team members are properly rewarded for their individual contribution to projects as well as their cooperation with other team members.
- CHILDCARE DISCOUNT: FEDERAL RESERVE BANK OF BOSTON does not offer childcare discount.
- COMMUTER BENEFIT: FEDERAL RESERVE BANK OF BOSTON acknowledges the fact that some team members have high commuting costs so it offers them first-class commuter benefits which cover various commuting expenses for trains and buses, as well as parking expenses.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FEDERAL RESERVE BANK OF BOSTON 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: FEDERAL RESERVE BANK OF BOSTON offers a remarkable short-term disability coverage for its team members. Through disability program, part of the employee's salary is replaced by the coverage for a limited time. This enables team members to have a financial stability during the difficult period of their lives and helps them to get back on track.
- LIFE INSURANCE: FEDERAL RESERVE BANK OF BOSTON offers an extraordinary 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 extraordinary life insurance package contains dependent policies as well.
- PAID TIME OFF: FEDERAL RESERVE BANK OF BOSTON has an exceptional vacation program for its team members with a great deal of paid vacation days. Team members can spend those days at their own pace, any time of the year. Various national and personal holidays are taken into account as well.
- PAID VOLUNTEER TIME OFF: FEDERAL RESERVE BANK OF BOSTON 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 FEDERAL RESERVE BANK OF BOSTON, on volunteer work of their choice.
- PARENTAL LEAVE: FEDERAL RESERVE BANK OF BOSTON has a superb parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
FEDERAL RESERVE BANK OF BOSTON
|401(k) plan Benefits|
|Adoption assistance reimbursement Benefits|
|Bonus pay Benefits|
|Childcare discount Benefits|
|Commuter benefit Benefits|
|Daycare flexible spending account Benefits|
|Life insurance Benefits|
|Paid time off Benefits|
|Paid volunteer time off Benefits|
|Parental leave Benefits|
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