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University of Massachusetts Medical School

This institution developed a special program to address older workers' job satisfaction

Benefits/Financial: Full- and part-time employees are offered a 403(b) plan and those working 20 or more hours per week are eligible for a defined-benefit plan. Employees may invest in lifecycle funds that automatically re-allocate assets based on age or proximity to retirement, and employees age 50 and over can make catch-up contributions to their plan.

Staff from the financial services firm that administers the retirement plans provides financial information and training to employees. One-on-one and general financial planning seminars are offered to employees.

Short-term leaves of absence without pay are offered to allow for caregiving.

Full- and part-time employees are offered flu shots, smoking cessation programs, health club discounts, physical activity and weight loss programs, and stress management training.

Full- and part-time employees are eligible for on-site child care and back-up care for children of employees and for grandchildren of employees with responsibility for grandchildren. Referral services to assist with child care, grandchild care and elder care are offered to employees working 20 or more hours per week.  

Employees also receive free counseling services from an EAP.  

Benefits/Alternative Work Arrangements: The following alternative work arrangements are offered to employees working 20 or more hours per week: flextime, compressed work schedules and telecommuting.

Opportunities for Retirees: UMMS has 2,647 retirees. Retirees are offered work opportunities such as temporary work assignments and part-time work.

Age of Workforce: Thirty-four percent of UMMS employees are age 50 or above. The average tenure of those employees is 10.7 years.

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