The YMCA of Greater Boston provides full time employees with exceptional benefits. Please click on the links below for more detailed information.
403(b) Enrollment Form (Voluntary Contributions to the YMCA Retirement Fund): For the most updated form, visit yretirement.org and navigate to the "forms" section.
Links and Resources
YMCA Retirement Fund 800-RET-YMCA (1-800-738-9622)
Benefit Resource, Inc. Flexible Spending Account Plan/Qualified Transportation Expense Account vendor
The Medical Flexible Spending Account lets you pay for uninsured health care expenses on a pre-tax basis. Each year you estimate the amount of uninsured medical expenses you are sure you will experience during the year. Throughout the year, that amount is deducted from your paychecks in equal amounts on a pre-tax basis. Although your actual salary remains the same, your taxable salary as reported to the government is reduced by the amount you put into your FSA. As you have eligible expenses throughout the year, you submit a claim form along with documentation of the expense and you are reimbursed with pre-tax dollars from your FSA account.
The Dependent Care FSA operates in a similar manner. Eligible claims include certain types of child day care expenses, nursery school expenses, in-home dependent care expenses, and adult day care expenses.
YMCA Retirement Fund
As a YMCA employee, you will participate in the YMCA Retirement Fund when you are eligible. Your eligibility depends on two things: your age and how long you've worked for the YMCA.
Age - You must be at least 21 to participate in the Fund.
Years of Service -- Two years of employment with a minimum of 1,000 hours of employment within an anniversary year. The two years do not have to be consecutive.
The Association is currently making a retirement fund contribution equal to 10% to 12% of monthly income for all eligible employees - making it a very strong retirement vehicle for participants. This percentage amount is subject to periodic review. You are 100% vested upon eligibility date into the plan. More information about the YMCA Retirement Plan may be found at www.yretirement.org.
Voluntary Tax-Deferred Account - 403(b)
Access to a tax-deferred savings account is available to all employees regardless of their age or their number of hours worked per week. By contributing to a voluntary Tax-Deferred Account (TDA), you reduce your current year's taxable income and build your retirement savings at the same time. You'll have less tax withheld from each paycheck, and your tax bill will be smaller on April 15 when you file your annual return. For 2009, the maximum tax-deferred contribution is $15,500 for people under age 50, and $20,500 for people age 50 and over.
Voluntary After-Tax Accounts
Contributions to a voluntary After-Tax Account have already been taxed. These contributions do not lower your annual taxable income, however all earnings on this account grow tax-deferred. Your total balances in an After-Tax Account can be withdrawn for any reason while you are actively employed at a YMCA. When you receive payments, only the earnings will be taxed, not the principal. Contributions to an After-tax Account may be made by lump-sum payment.
YMCA Membership and Discount on Programs including Child Care and Camp
If you are employed as a full time regular staff member working a minimum of 32.5 hours per week, you will be granted a complimentary YMCA individual membership for yourself, or a family membership, including spouse and children under 18 residing in the same household. In addition, you will receive 25% discount from the established member fee on all YMCA of Greater Boston programs, including daycare, day camp and resident camp. If you are a part time staff member, you will be granted a complimentary YMCA individual basic privilege membership for yourself.
Employee Assistance Plan (EAP)
The YMCA, through an outside vendor, offers an excellent employee assistance plan. The plan is a resource for handling difficulties that arise during life including marriage counseling, substance abuse referrals, mental health referrals, and elder care arrangements. All referrals are confidential.