We know that benefits and compensation play a central role in the employer you choose. At the Boston Fed, we recognize this, and work to make sure our compensation package is very competitive with those of top employers. Our goal is to provide you with the resources, tools, and flexibility you need to be successful in your work—all without giving up important other dimensions of your life.
We start with competitive pay and add on a comprehensive selection of medical, dental and vision plans, parental leave, plus a fully-funded pension plan and Bank-matching 401K plan. Boston Fed employees can also take advantage of an employer-sponsored identity theft protection program, group personal (e.g., life, home, auto) insurance, legal assistance, and free financial advisory services. What’s more, employees have access to emergency backup child/ adult/ elder care, on-site health and fitness centers, as well as a number of other unique conveniences that enable our employees to find the optimal balance between career and their personal lives.
Health & Wellness
Medical, dental, vision, and prescription drug plans
Our care and coverage packages reflect the Federal Reserve’s benefits philosophy, which emphasizes value, flexibility, convenience, and choice.
Health & Wellness Center
The Bank’s on-site Health & Wellness Center provides employees with health education and a variety of wellness services, including personal counseling on health-related matters, and medical assistance should you become ill at work. The Center sponsors blood drives, preventive health care programs, urgent care visits, annual flu shots, self-service blood pressure checks, a lactation room for new moms, and a variety of health awareness workshops.
You can ditch your gym membership: Federal Reserve Plaza is home to a Fitness Center that’s open 24/7/365. The Center offers a wide variety of services, including nutrition counseling, classes, exercise equipment, squash and basketball courts, and locker and shower facilities.
Employees’ wellness is a priority for the Boston Fed. Our Health and Wellness benefits extend beyond typical offerings of other employers, and include life insurance, disability insurance, care for dependents and domestic partners, complimentary employee support and counseling, and so much more.
Savings & Retirement
The Federal Reserve System’s “Thrift Plan” features several investment options with varying risk that make it easy for eligible employees to save for retirement. The Fed adds to your savings through matching contributions, up to 6 percent—and regardless of whether you’re contributing, the Fed will contribute 1 percent of your pay to your account.
At a time when many organizations no longer offer a traditional pension plan, the Federal Reserve’s Retirement Plan is recognized for the value it provides in helping secure employees’ financial future during their retirement years. Fed employees are automatically enrolled in our pension plan.
Your Career Development
The Boston Fed is very supportive of employees who want to further their education. The Bank offers full-time and part-time employees tuition reimbursement for courses in degree programs related to Bank work.
As part of professional development, you’ll have access to career counseling services to help you better understand career planning, skill assessment, values assessment, obstacles, and more.
Learning & Development
Annually, the Bank offers numerous professional development opportunities including formal classroom training and stretch assignments within the Bank and at other Banks in the Reserve System.
This professional development resource complements our other enrichment initiatives by enabling you to learn from experienced professionals in or out of your business area. Mentors provide opportunities for guidance, direction, knowledge, and network-building.
Holidays & Vacation
The Boston Fed recognizes the need for time for rest, recreation, personal activities, and other situations that may occur. Our employees receive 10 paid Federal holidays plus 2 floating holidays, and generous vacation time eligibility.
For births or adoptions, mothers and fathers are eligible for paid parental leave, to bond with their newest family member.
The Bank offers a generous sick leave program. Additionally, to assist employees caring for immediate family members, the Bank allows you to use sick leave for family illnesses or medical appointments.
The Bank also provides benefits to employees serving in the U.S. military above and beyond those required by law.
Identity Theft Protection
Bank employees have complimentary access to a full suite of identity theft and privacy protection serviceswhich includes identity monitoring, credit monitoring, and social media monitoring.
The Bank offers a transit subsidy to offset employees’ public transportation costs for transit passes or parking expenses on a pre-tax basis, based on IRS limits —that may be conveniently deducted from your paycheck.
Enjoy your breakfast and lunch without breaking the bank. Federal Reserve Plaza has subsidized dining options for employees, including our full-service cafeteria and the Harborview Dining Room, which offers an expansive view of Boston Harbor.
If you run into a situation where you need emergency back-up child/ adult/ elder care, the Bank provides assistance options.
If you’re looking for more long-term solutions, the Bank connects you with care givers to assist you, including those for evenings, weekends (and even pets).
Bank employees who adopt children may be eligible for reimbursement for qualified adoption expenses.