| The Federal Home Loan Bank
of Boston is committed to helping employees fulfill their professional
goals. The Bank provides financial assistance for job- or career-related
courses, certificates, and degree programs. In addition, the
Bank offers professional-development and training programs,
career counseling, and an open-job-posting policy. Employees
receive a comprehensive and very attractive benefits package,
as highlighted below.
Time Off
Vacation
Corporate officers receive 20 days of paid vacation each year. Functional assistant vice presidents, functional vice presidents, and all other full-time employees accrue 15 days of paid vacation each year. Additional vacation is accrued based on years of service.
Holidays
The Bank closes for 10 paid holidays each year.
Sick Days
All employees accrue
one sick day per month up to a maximum of 12 days per year.
Health Benefits
Medical Insurance
The Bank offers a choice between two medical plans: HMO Blue
New England Value Plus and Blue Care Elect PPO Value
Plus. Both
plans are offered through Blue Cross Blue Shield of Massachusetts.
Dental Insurance
The Bank offers Dental Blue, a comprehensive
dental plan through Blue Cross Blue Shield of Massachusetts.
Dental Blue covers preventive as well as basic and
major restorative dental services. The plan also provides
orthodontia benefits.
Health Care Flexible Spending Account
The
Bank offers employees the opportunity to set aside pre-tax
dollars to pay for typical out-of-pocket health care expenses
such as deductibles, co-payments, certain over-the-counter
items, and some non-covered expenses.
Dependent Care Flexible Spending Account
Employees
may defer up to $5,000 per plan year (calendar year) to pay
for dependent day care.
Financial Benefits
Thrift/401(k) Plan
The Thrift/401(k) Plan
is an employee savings and investment program.
Employees are eligible to contribute up to 50 percent of
their monthly salary starting on the first day of the month
following their date of hire. After one year of employment,
the Bank matches employee contributions. The Bank's match
percentage is determined by the employee's years of service.
Defined Benefit Retirement Plan
The Bank
offers a traditional pension plan, which provides monthly
income upon retirement to eligible employees. The plan offers
full vesting after six years of service.
Life Insurance and Accidental Death and
Dismemberment Insurance
Employees are insured for basic life insurance and AD&D
benefits at the Bank's expense for an amount equivalent to
two times their annual salary. Additional life insurance
coverage may be purchased at the employee’s expense.
Dependent Life Insurance
Dependent life insurance is available
for spouses and eligible dependent children.
Long-term Disability Insurance
The Bank’s
long-term disability plan provides eligible employees with
a percentage of monthly salary as income replacement in the
event of a qualified disability.
Additional Benefits
MBTA, Commuter Rail Pass, and Parking
Subsidy
The Bank subsidizes 50 percent of all monthly MBTA and commuter
rail passes (up to a maximum of $115 per month) that are
purchased through payroll deduction. The Bank also subsidizes
50 percent of a monthly
parking pass (up to a maximum of $115 per month) in the Prudential
Parking Garage.
Back-up Child Care
The Bank provides back-up child care through Bright Horizons
for
employees' children ages 13 or younger.
Training, Professional Development,
and Academic Assistance
The Bank offers financial assistance for academic tuition and fee expenses for
accredited job- or career-related courses, certificates, and degree programs,
up to $7,500 per calendar year. The Bank also reimburses employees for up to
$100 per class for required textbooks. In addition, the Bank may offer financial
assistance for job- or industry-related training and professional designations.
Fitness Benefits
The Bank partially
subsidizes gym memberships for eligible employees at Fitcorp,
located in the Prudential Center.
If an employee is a member of another gym, the Bank will
reimburse $100 towards the cost of an annual membership.
In addition, the Bank has an onsite fitness center that includes
weights, cardio equipment, and a locker room.
Employee Assistance Program (EAP)
The Bank
provides access to an EAP for eligible employees and their
dependents. The EAP provides counseling and assistance for
dealing with a wide range of issues, both on and off the job.
The Federal Home Loan Bank of Boston is an
Equal Opportunity Employer.
Disclaimer
The Federal Home Loan Bank of Boston does not intend this
document to serve any contractual purpose. The terms set forth
in the Bank policy or the plan document apply in the case
of a discrepancy. The Bank reserves the right to modify, suspend,
revoke, or terminate any and all portions of the benefits
package highlighted herein, without notice, at any time.
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