This report analyzes and compares FEDERAL RESERVE BANK OF CHICAGO's employee health insurance and employee benefits with its industry and in Illinois 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
FEDERAL RESERVE BANK OF CHICAGO has superior 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 CHICAGO. superior tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FEDERAL RESERVE BANK OF CHICAGO continually evaluates its team members to determine the potential and direction of employees' careers. The excellent tools that FEDERAL RESERVE BANK OF CHICAGO uses for career planning allow employees to develop their skills and gain new insights about the industry.
- COACHING AND MENTORING: FEDERAL RESERVE BANK OF CHICAGO does not offer coaching and mentoring.
- DEVELOPMENT RESOURCES: excellent development resources are what allows FEDERAL RESERVE BANK OF CHICAGO to keep its team members in shape and widen their personal and professional horizons. Throughout the year, employees are encouraged to participate in excellent workshops and learning groups with the focus on topics relevant to their respective fields.
- GED REIMBURSEMENT: FEDERAL RESERVE BANK OF CHICAGO has an impressive GED policy and offers to pay full costs for employees who want to obtain a GED.
- LEADERSHIP PROGRAMS: FEDERAL RESERVE BANK OF CHICAGO believes that providing its team members with exceptional leadership programs is a crucial step in creating new leaders. By using exceptional tools that FEDERAL RESERVE BANK OF CHICAGO provides for them, employees are able to learn what makes or breaks a leader.
- 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 FEDERAL RESERVE BANK OF CHICAGO offers an excellent Onboarding program to help new employees understand their role and cooperate with the rest of the team.
- RECOGNITION PROGRAMS: Aware of the fact that its team members work hard, FEDERAL RESERVE BANK OF CHICAGO implemented a suitable Recognition program with informal rewards to make sure the team members know they are appreciated.
- TUITION REIMBURSEMENT: FEDERAL RESERVE BANK OF CHICAGO realizes that continuous education is a key to success so it has an extraordinary Tuition Reimbursement Program and pays full costs for college degrees or job-related certificates.
Benefit | FEDERAL RESERVE BANK OF CHICAGO | Industry | Illinois |
|---|---|---|---|
| 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
FEDERAL RESERVE BANK OF CHICAGO offers superb 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 CHICAGO's superb maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FEDERAL RESERVE BANK OF CHICAGO has an excellent counseling program for its employees and their family members. Team members are encouraged by FEDERAL RESERVE BANK OF CHICAGO 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 excellent counseling program offers help any time of the day, seven days a week. Even a certain number of family sessions is included.
- DENTAL PLAN: FEDERAL RESERVE BANK OF CHICAGO cares about its team members' dental health so it offers an extraordinary 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: FEDERAL RESERVE BANK OF CHICAGO offers a great health insurance for its team members that covers a most basic and some complex medical procedures.
- HEALTH PLAN INCENTIVES: In an effort to improve the wellbeing and quality of life of its team members, FEDERAL RESERVE BANK OF CHICAGO offers great health plan incentives for its employees. Employees have at their disposal various resources through which they can learn about their health and how to improve it.
- HEALTHCARE SPENDING ACCOUNTS: FEDERAL RESERVE BANK OF CHICAGO offers an excellent healthcare spending account to its employees. Employees have an option to deposit a part of their salary into the account and use it for any medical or dental expenses not covered by their health plan. Employee's family members can use this funds as well.
- MATERNITY SUPPORT PROGRAM: Aware of the challenges that come with pregnancy, FEDERAL RESERVE BANK OF CHICAGO has created a superb maternity support program to support its expecting team members.
- TELEHEALTH: FEDERAL RESERVE BANK OF CHICAGO has implemented a superior telehealth policy for its members to use any time of the day, every single day. FEDERAL RESERVE BANK OF CHICAGO covers all expenses of exams, doctor's opinions, and other services that can be done over the phone or via video call.
- VISION PLAN: FEDERAL RESERVE BANK OF CHICAGO has an outstanding 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 | FEDERAL RESERVE BANK OF CHICAGO | Industry | Illinois |
|---|---|---|---|
| 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
FEDERAL RESERVE BANK OF CHICAGO offers superb financial benefits for employees and their family members. A superb 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 CHICAGO knows how important it is to think about retirement and start saving on time. That's why it offers a good 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 CHICAGO 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 CHICAGO provides resources which will help team members decide what to do with their 401(k) plan. FEDERAL RESERVE BANK OF CHICAGO offers a good vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: FEDERAL RESERVE BANK OF CHICAGO does not offer adoption assistance reimbursement.
- BONUS PAY: FEDERAL RESERVE BANK OF CHICAGO offers top-notch bonuses to team members who excel in their field of work, provide extraordinary results for FEDERAL RESERVE BANK OF CHICAGO, and encourage others to do the same.
- CHILDCARE DISCOUNT: FEDERAL RESERVE BANK OF CHICAGO has an impressive childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: FEDERAL RESERVE BANK OF CHICAGO has a good commuting policy and offers commuter benefits that allow eligible team members to cover their transportation or parking costs up to a certain distance from the place of work.
- DAYCARE FLEXIBLE SPENDING ACCOUNT: FEDERAL RESERVE BANK OF CHICAGO has a valuable 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 CHICAGO has an excellent disability program available for eligible team members. Whether it's a short- term or a long-term disability, team members can rest assured that their financial status won't be compromised even when they are not working. Once the short-term disability coverage expires, employees have the option to enjoy long-term disability coverage.
- LIFE INSURANCE: FEDERAL RESERVE BANK OF CHICAGO offers a suitable life insurance policy to its team members for an affordable price. FEDERAL RESERVE BANK OF CHICAGO participates with 50% of the costs of the policy which makes it enticing for employees to buy it. Beneficiaries of team members can expect to get up to 1 year worth of employee's salary.
- PAID TIME OFF: FEDERAL RESERVE BANK OF CHICAGO has an impressive 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 CHICAGO does not offer paid volunteer time off.
- PARENTAL LEAVE: FEDERAL RESERVE BANK OF CHICAGO has a remarkable parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FEDERAL RESERVE BANK OF CHICAGO | Industry | Illinois |
|---|---|---|---|
| 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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