This report analyzes and compares FEDERAL RESERVE BANK OF NEW YORK's employee health insurance and employee benefits with its industry and in New York 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 NEW YORK has remarkable 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 NEW YORK. remarkable tuition reimbursement programs are available for employees who want to get a work-related degree or a certificate.
- CAREER PLANNING: FEDERAL RESERVE BANK OF NEW YORK offers superb possibilities for career planning to its team members. Whether it's an expert position or an entry-level position, FEDERAL RESERVE BANK OF NEW YORK makes sure that every single team member takes the full advantage of superb career planning programs.
- COACHING AND MENTORING: FEDERAL RESERVE BANK OF NEW YORK believes that an outstanding coaching and mentoring program is necessary for the employees to thrive, expand their skill set, and become the best in their field.
- DEVELOPMENT RESOURCES: FEDERAL RESERVE BANK OF NEW YORK offers top-notch development resources to enable its employees to grow on a personal and a professional plan. With access to top-notch intern programs and seminars, employees can learn new skills and stay at the top of their fields.
- GED REIMBURSEMENT: FEDERAL RESERVE BANK OF NEW YORK has a superior policy when it comes to GED reimbursement and participates with 1/2 of the costs.
- LEADERSHIP PROGRAMS: FEDERAL RESERVE BANK OF NEW YORK 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 NEW YORK to grow as leaders and learn how to make tough calls.
- ONBOARDING: FEDERAL RESERVE BANK OF NEW YORK does not offer onboarding.
- RECOGNITION PROGRAMS: FEDERAL RESERVE BANK OF NEW YORK has a top-notch Recognition program in place and makes sure that team members who constantly achieve extraordinary results and work well with others are properly rewarded for their efforts.
- TUITION REIMBURSEMENT: FEDERAL RESERVE BANK OF NEW YORK has a superior Tuition Reimbursement Program and pays 50% of costs for college degrees or courses that will benefit employee's current or future role at FEDERAL RESERVE BANK OF NEW YORK.
Benefit | FEDERAL RESERVE BANK OF NEW YORK | Industry | New York |
|---|---|---|---|
| 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 NEW YORK offers remarkable 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 NEW YORK's remarkable maternity support program, nutritional and psychological counseling, and health plan incentives.
- COUNSELING: FEDERAL RESERVE BANK OF NEW YORK wants to make sure that its team members are physically and psychologically healthy, and emotionally balanced. In order to make that happen, Its superb 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: Team members at FEDERAL RESERVE BANK OF NEW YORK have a superior 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 NEW YORK partially pays for dentures and braces as well.
- HEALTH INSURANCE: FEDERAL RESERVE BANK OF NEW YORK 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 NEW YORK offers its team members remarkable health plan incentives. Team members are encouraged to take a proactive approach to their health and take care of their BMI, sugar and fat in their blood, and other biometrics. FEDERAL RESERVE BANK OF NEW YORK provides educational material and seminars.
- HEALTHCARE SPENDING ACCOUNTS: FEDERAL RESERVE BANK OF NEW YORK offers an extraordinary 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 NEW YORK has created a first-class maternity support program to support its expecting team members.
- TELEHEALTH: FEDERAL RESERVE BANK OF NEW YORK has a suitable telehealth policy available for its team members. Employees have access to exams and opinions over the phone which saves them a lot of time and stress. FEDERAL RESERVE BANK OF NEW YORK can recommend a certain doctor or institution and covers up to 50% of the costs.
- VISION PLAN: FEDERAL RESERVE BANK OF NEW YORK offers a solid Vision Plan for its team members and covers the costs of basic eye exams with a possibility to pay for additional benefits.
Benefit | FEDERAL RESERVE BANK OF NEW YORK | Industry | New York |
|---|---|---|---|
| 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 NEW YORK 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 NEW YORK knows how important it is to think about retirement and start saving on time. That's why it offers a valuable 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 NEW YORK 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 NEW YORK provides resources which will help team members decide what to do with their 401(k) plan. FEDERAL RESERVE BANK OF NEW YORK offers a valuable vesting schedule with a gradual increase of 25% per year.
- ADOPTION ASSISTANCE REIMBURSEMENT: FEDERAL RESERVE BANK OF NEW YORK does not offer adoption assistance reimbursement.
- BONUS PAY: FEDERAL RESERVE BANK OF NEW YORK has a great bonus plan that takes into account the individual efforts of a certain team member, as well as the results that those efforts generated.
- CHILDCARE DISCOUNT: FEDERAL RESERVE BANK OF NEW YORK has an excellent childcare discount policy for its employees and offers attractive rates for eligible childcare centers.
- COMMUTER BENEFIT: FEDERAL RESERVE BANK OF NEW YORK 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: FEDERAL RESERVE BANK OF NEW YORK 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 NEW YORK has an exceptional 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 NEW YORK offers a great life insurance policy to its team members for an affordable price. FEDERAL RESERVE BANK OF NEW YORK 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 NEW YORK has an extraordinary 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 NEW YORK has a superb volunteer time off program for its team members. Aware of the fact that volunteer work builds character and widens the horizons, FEDERAL RESERVE BANK OF NEW YORK stimulates its team members to use two paid days every quartal for volunteering purposes.
- PARENTAL LEAVE: FEDERAL RESERVE BANK OF NEW YORK has an extraordinary parental leave policy for eligible team members like new mothers and fathers, including adoption, surrogacy and foster care.
Benefit | FEDERAL RESERVE BANK OF NEW YORK | Industry | New York |
|---|---|---|---|
| 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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