Benefits
You'll enjoy a work/life balance at Freddie Mac. We want to make sure you can bring your best to work! That's why our Total Rewards package offers such a well-balanced offering of benefits – benefits that support all the aspects of your life.
Our benefits rank among the best in the nation! We annually assess our benefits in a benchmarking study facilitated by a well-known national consulting firm. This study includes 21 well respected financial services companies in the nation. We consistently rank in the top quartile among our comparator group for all benefits.
One of the best features of the benefits offered here at Freddie Mac is the flexibility. Each year, Freddie Mac provides its employees FlexDollars to help pay for the benefits our employees select. By giving you a FlexDollar allotment to "spend" on your benefits, you can reduce the cost of benefits that are important to you and your family, and design a customized package. You can even use FlexDollars to "purchase" extra vacation days.
See how our Total Rewards package offers you well-rounded support:
Your Life
We understand and support the fact that our employees have busy lives outside of Freddie Mac. That's why we offer a benefits plan designed to keep our most important assets – our people – healthy, happy, and moving ahead.
- Home Benefit Program
- Domestic Partner Coverage
- Flexible Spending Accounts
- Freddie Mac Wellness Center
- Employee Assistance Program
- Educational Assistance Program
- Fitness Center and Health Club
- Commuter Discounts
Your Health
For most people, access to comprehensive, affordable health care is a top benefits priority. That's why Freddie Mac offers a choice of programs to fit your needs, and the needs of your family.
Your Money
Our benefits and services help employees balance the increasing demands of work and family. At Freddie Mac we are committed to offering plans that provide valuable benefits for our employees.
Your Time
At Freddie Mac we understand the importance of time with your family and friends. That is why we offer numerous paid time–off programs, as well as paid and unpaid leave policies for those unexpected times you need to be away.
We offer first-time homebuyers up to $12,000 toward their home purchase to cover down payment and closing costs or loan origination fees/discount point(s).
We offer Medical, Dental and/or Vision coverage for your domestic partner, as well as his or her eligible children.
Earn pre-tax savings on eligible expenses.
- Health Care Spending Account: (HCSA) This Flex Account is for those employees that are not enrolled in Freddie Mac's medical/dental and/or vision insurance coverage plans.
- Dependent Care Spending Account: (DCSA) This Flex Account is for employees who need assistance with an elderly parent or dependent.
Enjoy the convenience of seeing a doctor on-site, at no cost.
Lifeworks Program counselors provide resources and referral services for adoption, elder care, child care, selecting a school, anticipating college finances, and child safety.
Reimbursement up to $5,000 per year for accredited college, university, or certification courses that can enhance your skills or prepare you for a future assignment.
You'll have access to convenient services such as house cleaning and car detailing, as well as to premium tickets for hit shows, concerts, or sporting events.
We offer an on-site fitness center at our home campus facilities, and offer Fitness Center reimbursement for employees at different locations.
Our program allows you to purchase transit passes with pre–tax dollars up to $115 per month.
Freddie Mac's Thrift/401(k) Savings Plan consistently ranks among the very best in the nation. The Freddie Mac match is a step match-formula, which provides 50 percent, 75 percent or 100 percent, up to 6% of pay, based on our employee's years of service. Employees are automatically vested in the Freddie Mac match and are fully vested in the basic contribution after five years.
In addition, to our Thrift/401(k) Savings Plan, we offer a traditional pension plan as part of Freddie Mac's retirement package. Employees become eligible for the Pension Plan, after meeting one year of eligibility service and attainment of age 21. The formula is based on age, salary and length of service. Employees can retire as early as age 55 (with a reduced pension benefit) provided they have five years of service; normal retirement is age 65.
Our Employee Stock Purchase Plan (ESPP) offers you a 15-percent discount on our company stock. You pay no brokerage commissions or service charges when you purchase Freddie Mac stock.
Providing protection from the unexpected for you and your family is an important part of Freddie Mac's benefits. Freddie Mac provides:
- Short-Term Disability (STD)
- Long-Term Disability (LTD)
- Life Insurance
- Accidental Death & Personal Loss (AD&PL) Insurance
- Business Travel Accident (BTA) coverage
With Freddie Mac's flexible benefits program, you have several Medical options to choose from:
- Aetna HealthFund Consumer – Driven Health Plan (CDHP)
- Aetna Choice POS II and Aetna Choice POS II Plus
- Aetna Out-of-Area Plan
- Aetna Select
- Kaiser HMO
All Freddie Mac Medical plan options cover doctor visits, preventive care, hospitalization, surgery, and emergency care. Prescription drug coverage and copays will differ for each healthcare option.
Freddie Mac offers dental coverage for you and your eligible dependents on a wide variety of dental services.
The Vision Plan, administered by Spectera, provides coverage for annual eye exams and includes specific dollar allowances for frames, lenses, and contact lenses.
As a new Campus hire, you are eligible for 10 days vacation after your first year. You may also use FlexDollars to purchase additional vacation days.
Freddie Mac observes seven scheduled federal holidays and four discretionary holidays each year.
Full-time employees receive eight days of sick leave per calendar year. Carried-over sick leave is capped at 12 days for a maximum of 20 sick days.
Freddie Mac will provide up to three days of paid leave when a death occurs in your immediate family, or anyone living in your household.
Provides employees leave for jury duty or to comply with a subpoena or court order.
Freddie Mac employees are entitled to take leave from their Freddie Mac employment to serve in the Uniformed Services consistent with the requirements of the Uniformed Services Employment and Re-Employment Rights Act. The continuation of benefits during leave and the right to be re-employed upon completion of such leave depend on a number of circumstances, including the duration of the leave.
Eligible employees can take up to 30 business days of paid leave to care for a newly adopted child.
The Family Medical Leave Act (FMLA) permits eligible employees to use up to 12 weeks of unpaid leave upon the occurrence of an employee's serious health condition or to care for an eligible family member.
Short Time Disability coverage provides benefits when you need to be absent from work for a period of six or more consecutive workdays and up to 180 calendar days if the absence is related to an employee's illness or injury and is approved by the Wellness Center. STD benefits are paid to you the same as your regular pay.