Benefits/Financial: Full- and part-time employees are offered a 403(b) plan. Employees working 20 or more hours per week are offered a money-purchase defined contribution plan and a cash balance plan. Employees age 50 and over can make catch-up contributions to their plans and may invest in lifecycle funds that automatically re-allocate assets based on age or proximity to retirement.
Staff members, staff of the financial services firm that administers the savings plans, and external financial planning experts provide financial education to employees.
Short- and long-term leaves of absence without pay are offered to allow for caregiving.
Full- and part-time employees are offered flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, physical activity and weight loss programs, and stress management training. In addition, the EAP offers sessions on healthy eating, safe living and physical fitness The MGH BeFit Wellness program teaches employees how to eat healthier and exercise more.
MGH offers the following dependent care benefits to its employees working 20 or more hours per week: on-site child care for children and grandchildren of employees, referral services to assist with child care, grandchild care and eldercare, as well as back-up care for child care and grandchild care. The EAP sponsors a monthly Elder Care Discussion Group that provides information on care coordination, family, legal, estate and medical issues.
Benefits/Alternative Work Arrangements: Alternative work arrangements for part- and full-time employees include flextime, compressed work schedules, job sharing, telecommuting and a formal phased retirement program. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
Opportunities for Retirees: MGH has 2,300 retirees and an individual directly responsible for retiree relations. The hospital stays connected with its retirees by communicating regularly, inviting retirees to organization events, by providing ongoing access to retirement planning workshops and information, and by formally acknowledging employees upon retirement. Retirees are offered the following work opportunities: temporary work assignments, consulting and contract work, part-time work, and volunteer work.
Age of Workforce: Twenty-nine percent of MGH employees are age 50 and over. The average tenure of those employees is 16 years.
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