We understand that each employee has their own unique benefits needs. Whether you are just starting your career or considering retirement; married or single; caring for children, elderly parents, or your favorite pet; Draper offers flexible and comprehensive benefits to meet those needs.
And we don’t stop at the basics. Our portfolio includes health and wellness programs, access to MIT recreation and fitness facilities, credit union eligibility, tuition assistance, and lectures and seminars on just about anything to help you save time & money, build your career, keep you healthy, or add a little fun to your day--from gardening tips, to saving for college, to how to get a better night’s sleep.
Our benefits staff is happy to meet with you to assess your personal needs and explain your options in detail. Often, these options may include suggestions on how to utilize available benefits beyond those offered by Draper to maximize value for you and your family.
Health & Wellness | Financial | Childcare/Eldercare | Career Development | Commuting
Health & Wellness
- Several pre-tax medical plans at various cost and coverage levels, as well as dental and vision plans.
- Access to MIT athletic facilities
- Annual Wellness Fair
- On-site health assessments
- Bicycle competitions (secure on-site bicycle facility)
- Corporate fitness challenges
- Shower facilities on-site
- Total Life Commitment program
Draper provides a generous retirement plan that is managed by TIAA-CREF. For salaried employees, Draper contributes 10% of the employee’s salary and the employee contributes 5%. For the Draper portion of this contribution, half vests your first day on the job, with full vesting after 5 years. Group and individual financial and retirement planning sessions are scheduled throughout the year. Free retirement planning reports are also available through Ibbotson Associates.
The 5% employee’s contribution to this plan is not included in calculating the maximum limit that can be contributed to a 401(k)/403(b) Plan. Employees can contribute to a Supplemental 403(b) Retirement Plan with pre-tax contributions or Roth after tax contributions up to the maximum annual IRS limits.
- Short-and Long-term Disability at no cost to employees
- Basic Life and Accidental Death & Dismemberment at no cost to employees
- Supplemental Life insurance up to five times annual salary
- Discounted group and individual l long term care options
- Discounted auto and home insurance available through payroll deduction
- Pet insurance at discounted group rates
- $500,000 free business travel accident insurance
- Subsidized retiree medical insurance
Flexible Spending Accounts:
- Optional participation in Flexible Spending Accounts (FSA) for both medical and dependent care expenses.
- Up to $1,000 dependent care subsidy per year for care of a qualified dependent (child or adult)
- Near-site day care is available at a reduced rate with Bright Horizons in Cambridge
- Mother’s lounge on-site
- Adoption assistance up to $5,000 per finalized adoption
- Free emergency ride home program
- Free childcare and eldercare referral service
- Flexible work arrangements
- Tuition reimbursement up to $5,250 per year for undergraduate courses
- Unlimited tuition reimbursement for Masters degrees as well as Ph.D.s in engineering disciplines
- Workplace flexibility to attend classes and complete course requirements
- 50% reimbursement for membership in professional societies
- Mentoring program
- Additional on-site programs to assist in your career development
- Cambridge and Washington D.C. sites are easily accessible via public transportation (link to: maps & directions) with subsidized T passes and SmartBenefits® vouchers available up to $115 per month, with a pre-tax parking benefit available at all commuter stations.
- Free transportation to local commuter stations
- Parking available at all sites, including Cambridge, where the garage parking fee can be paid through a pre-tax payroll deduction.
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