Time Off

Vacation
Corporate officers and functional vice presidents receive 20 days of paid vacation each year. Functional assistant 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 and PPO.

Dental Insurance
The Bank offers a comprehensive dental plan that 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 $120 per month) that are purchased through payroll deduction. The Bank also subsidizes 50 percent of a monthly parking pass (up to a maximum of $120 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.

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.