YMCA Employee Benefits
Where can you find meaningful work that offers rich rewards? Where can you, simultaneously, build a better future for yourself and for kids, families and your community? Where can you work with people who thrive in a values-based environment of caring, honesty, respect and responsibility?
All of this can be found at a YMCA. YMCAs get the job done through staff members who are carefully selected for their interests, skills and enthusiasm. With over 150 years of experience, YMCAs know that the mission is achieved one person at a time-carried out in the hearts and hands of each caring and competent staff member.
Believing that people deserve the best, YMCAs offer competitive wage and benefit packages. Each YMCA is unique in its benefits offered, but most Ys offer all or a combination of the following:
- Health & dental insurance
- Disability and life insurance
- Funded retirement plan
- Flexible work schedule
- Subsidized child care
- Free YMCA membership
- Tuition reimbursement
- Discounted program fees
- Time-off benefits (vacation, sick days and holidays)
The YMCA Retirement Fund
One of the primary benefits of working for a YMCA is that you will be enrolled in the Retirement Plan
, the pension program for almost all YMCAs in the United States. In the course of your YMCA career, if you move from one YMCA to another, your savings move with you because they are always at the YMCA Retirement Fund. Over time, contributions, combined with the interest earned, can help you build savings for the future.
New YMCA Employees
As soon as you become an employee at a YMCA that participates in the Retirement Plan, you may begin making contributions to a 403(b) Smart Account or roll over money to the Tax-Deferred Savings Plan from other eligible employer plans or IRAs.
Eligibility
To be eligible to be enrolled in the Retirement Plan, you must have completed 1,000 hours of service during each of any two 12-month periods, beginning with your date of hire. These two years do not have to be consecutive, and they may be spread between more than one YMCA in each of the two 12-month periods. You must also be at least age 21. Once you meet the eligibility requirements, your YMCA will enroll you in the Retirement Plan. Once you're enrolled, you are vested and entitled to benefits the Fund provides.
Contributions to Your Retirement Plan Accounts
Contributions to your basic accounts are based on your compensation. Some YMCAs will pay the full amount. Others require that each employee contribute a portion.
Voluntary Contributions
Add to your retirement savings by making voluntary contributions. You can start, stop, or change the amount of these contributions at any time. By contributing to a separate 403(b) Smart Account, you postpone paying income taxes on contributions and on any earnings. You can also roll over money from other eligible employer plans or IRAs. Once you are enrolled in the Retirement Plan, you may contribute to a voluntary After-Tax Account.
Watch Your Money Grow
While you're employed by a YMCA, your savings grow based on the level of contributions being made and interest credited to your accounts. What's more, the earlier you begin to contribute to a 403(b) Smart Account or After-Tax Account, the larger your savings will grow.
The money contributed to the Plans is placed in a variety of investments, including stocks and bonds, to ensure future growth and to assure retirement income to all participants who retire from a YMCA. Twice a year, the Board of Trustees declares the interest rate that will be credited to your accounts, based on how well the investments perform and other considerations.
When you retire, you'll receive a lifetime annuity, which means a monthly payment for the rest of your life. If you wish, you may select an annuity option that will pay monthly income to your spouse or another person after you die.
Since 1922, the YMCA Retirement Fund has stood for security, integrity and enduring value.
To learn more about the YMCA Retirement Fund, call 800-RET-YMCA, or go to www.yretirement.org.
