All employees of the Federal Reserve System receive benefits that include a variety of insurance plans, a 401(k) retirement savings plan, and a defined benefit retirement plan. Minneapolis Fed employees and staff have many additional benefits.
Health insurance plans
You and your dependents, including domestic partners, are eligible for coverage in one of three medical and dental plans, as well as a vision plan, beginning the first day of employment. Prescription drug coverage and access to health support, disease management, and wellness coaching programs are included as a part of the district's medical plans. All health insurance premium deductions are taken on a pretax basis.
Medical Insurance Options
- BlueCross BlueShield Standard PPO
- BlueCross BlueShield Premier PPO
- BlueCross BlueShield Premier Plus PPO (Helena Only)
- United Health Care Premier Plus PPO (Minneapolis Only)
Dental Insurance Options
- CIGNA Standard Dental PPO
- CIGNA Premier Dental PPO
- CIGNA Dental DHMO
- Vision Services Plan (VSP)
You also have the option to contribute to flexible spending accounts. These accounts afford pretax dollars to pay for items like day care, medical/dental deductibles, co-payments, and other eligible health, dental, and vision expenses not covered by insurance.
Retiree health insurance
If you meet certain age and service criteria, you are also eligible to participate in a medical insurance program upon retirement. Plans are available for retirees who are eligible for Medicare and those who are not.
The Federal Reserve recognizes 10 paid holidays each year:
- New Year’s Day
- Labor Day
- Martin Luther King Day
- Columbus Day
- Presidents Day
- Veterans Day
- Memorial Day
- Thanksgiving Day
- Independence Day
- Christmas Day
Time away from work (time off)
We offer a number of programs to help you balance your work life and your personal life. These programs include, but are not limited to, paid time off (PTO), paid parental leave, family medical leave, domestic partner leave, U.S. Armed Forces family member/military leave, bereavement leave, and more.
We provide reimbursement to employees for approved educational expenses. The program covers individual classes (related to the business of the Bank) and degree programs at both the undergraduate and graduate levels through accredited institutions.
Parking and transit benefits
In Minneapolis, parking is available in the Bank garage for all officers and select other employees. On evenings and weekends, parking is available to all employees on a first-come, first-served basis. In Helena, free parking is available to all staff.
If you use public transportation to commute to work, the Bank offers a commuter subsidy program that provides tax savings.
Free indoor parking is available for bicycle commuters.
Wellness programs/fitness center
We offer ongoing wellness and fitness programs in support of healthy actions and work/life demands, including an on-site 24/7 fitness center in the Minneapolis Bank (an exercise room is available in Helena), where fitness classes are conducted. Nursing mothers have access to quiet rooms.
Employee assistance program (EAP)
We offer an EAP to you and your household. The EAP provides confidential consultation to assist you with issues of concern, such as domestic or emotional situations, financial difficulties, alcoholism, or other chemical dependencies. Clinically trained professionals are available at various locations throughout the Twin Cities and Helena areas to conduct private counseling sessions at no cost to you.
Other benefits and perks
- Basic and supplemental life insurance
- Business travel accident insurance
- Group legal insurance
- Personal accident insurance
- Identity theft protection
- A retirement plan death benefit
Plus, we have subsidized, on-site cafeterias and free notary public services at both locations, and an on-site convenience store and an ATM in the Minneapolis Bank.
Discounts on pet insurance and other products, services, and events are also available.
The Federal Reserve Bank of Minneapolis is committed to equal opportunity for employees and job applicants alike, and to an environment where employees can work effectively with and value other employees for their differences.