We recognize that each associate has different needs, lifestyles, and interests. Our benefits packages are created with the flexibility to support associates who are at different stages in their lives and careers. New associates who start work after 1/1/17 are eligible for health and 401k benefits on the first day of the month after 30 days of employment.
We offer a total compensation and benefits package to help with your needs today and build for your future tomorrow.
AvalonBay is an Equal Opportunity Employer.
Health & Welfare
At AvalonBay, we want you to feel in control of your health by giving you options. That is why we provide you with the choice of two providers, Aetna and Cigna. Whether you choose Aetna or Cigna, you will have the option to choose between two High-Deductible Health Plan options and two more traditional plan offerings. Aetna and Cigna both offer robust, nationwide networks of more than one million in-network healthcare providers.
Regardless of which medical plan you choose, you’ll have the benefits of a PPO plan which have the following benefits:
- No requirement that you use a primary care physician to manage your health care
- No referral needed for care by a specialist
- After you meet your annual deductibles—you pay only a modest copay, or coinsurance, depending on the plan you enrolled in
- No claim forms to complete
Prescription Drug Benefits for HDHP & PPO
When you enroll in the HDHP or PPO medical plan, you automatically receive your prescription drug benefits. Your prescription drug benefits are administered by ExpressScripts.
AvalonBay offers dental coverage through MetLife to help you maintain a healthy smile through regular preventive care and to fix any problems as soon as they occur. Associates have the option to select between the Premier and Basic Plus Plan.
Features of this plan include:
- Free in-network preventive and diagnostic care
- Affordable coverage that helps you manage the cost of dental treatment
- Wide network of providers that have agreed to negotiated rates, which helps you save money
- For the Premier Plan the maximum annual benefit limit is $2,500 and $2,500 for orthodontia (adults and children to age 19)
- For the Basic Plus Plan the maximum annual benefit limit is $1,000
You may choose to enroll in our Vision Service Plan (VSP). VSP is a nationwide network of optometrists and ophthalmologists. The plan works like a preferred provider organization and offers benefits whether you use doctors within the network or outside the network. The plan provides benefits for regular eye examinations, glasses or contact lenses and laser vision care.
Life and AD&D Benefits
We offer a variety of benefits designed to provide financial protection for you and your beneficiaries in the event you become disabled or die. These benefits, which include life and accidental death and dismemberment (AD&D) insurance and business travel accident insurance, are fully paid by the company. In addition, you may purchase voluntary supplemental life and AD&D insurance for yourself and your dependents.
We offer the additional financial security of disability insurance fully paid by the company. Your short-term and long-term disability plans replace a percentage of your regular pay if you are unable to work for an extended period of time because of illness or injury. Your disability benefits provide valuable income protection for you and your family.
Health Savings Account (HSA)
Only available to participants enrolled in one of the two high-deductible health plans.
A Health Savings Account (HSA) is a savings account that you use to pay for health care expenses when you are enrolled in a qualified high deductible health plan. Your contributions are payroll deducted on a pre-tax basis and deposited into an interest bearing money-market account. HSA contributions are portable and non-forfeitable. Unlike a flexible spending account (FSA), unused money in your HSA isn’t forfeited at the end of the year; it continues to grow tax-deferred. AvalonBay also makes a company contribution into your HSA, which is pro-rated based on your date of hire.
Flexible Spending Accounts
Flexible Spending Accounts allow you to defer pre-tax dollars to pay for eligible out-of-pocket expenses. We offer two main flexible spending accounts:
1. Health Care Flexible Spending Account
You can use the health care FSA to reimburse yourself for medical expenses incurred by you and your dependents (as defined under the Internal Revenue Code) that are not covered by your health insurance plans.
Eligible expenses include:
- Deductibles, copays, and coinsurance under your (and/or your spouse's) medical, dental and vision plans
- Costs in excess of health plan limits, such as those for orthodontia or eyeglasses or contact lenses
- Expenses that are not covered by your insurance, such as hearing aids
2. Dependent Care Flexible Spending Account
You can use the dependent care account to reimburse eligible expenses for work-related day care for eligible dependents.
Eligible expenses include the costs of:
- Nursery schools, day camps and licensed day care centers
- Care provided in your home or someone else's—the caregiver can't be one of your dependents or a child age 18 or younger
For the dependent care flexible spending account, your eligible dependents are your children age 12 or younger and members of your household, of any age, who are physically or mentally unable to care for themselves and dependent on you for at least half their support.
Employee Stock Purchase Plan
AvalonBay offers the opportunity to share directly in our corporate success through the Employee Stock Purchase Plan (ESPP). Under this plan, you can purchase stock in the company at a 15% discount off the market price.
How the Plan Works
- During the purchase period you can elect to purchase shares of common stock at the 15% discounted rate.
- Your contributions are made by regular after tax payroll deductions.
- At the end of the option period, the company uses your contributions to purchase the stock. Your purchase price is 85% of the lower of the closing market prices on the first and last days of the purchase period.
401(k) Savings Plan
AvalonBay offers a benefits package that supports you with your needs today and in the future. Our 401(k) plan allows you to save a portion of your pay each pay period and invest your savings in your choice of the available investment funds. Best of all, when you save, AvalonBay saves with you! We match 50% of your contribution up to 6%. The money in your account accumulates on a tax-deferred basis so you pay no taxes on your contributions or investment earnings until you begin to withdraw the funds.
At AvalonBay, our associate benefits package includes paid leave for vacations, holidays, and time to take care of your personal business.
Each associate's leave is dependent upon position and years of service.
We observe 10 holidays each year.
Associates accrue six days of leave per year beginning the first of the month following 60 days of employment.
Up to four days per year for certain absences.
Because we believe our corporate success is directly tied to your personal success, AvalonBay offers a variety of professional development opportunities through AvalonBay University and our Tuition Reimbusement benefit.
AvalonBay University offers a comprehensive curriculum in a wide variety of technical and managerial skills ranging from maintenance and safety to leadership training. AvalonBay University's program of classes, tools and resources is designed to help you acquire the knowledge and skills required by your current job and develop the competencies you'll need for future position.
After six months of employment, you can take advantage of the tuition reimbursement program.
When you take an approved course of study, the company will reimburse up to $2,000 a year in tuition and costs for undergraduate course work and up to $4,000 a year for tuition and costs for graduate study.
Adoption Assistance Program
All regular, full time benefits eligible associates can request reimbursement up to $5,000 for “qualified adoption expenses” incurred after January 1, 2015. The AvalonBay Adoption Assistance Program provides financial support for expenses related to adoption such as: adoption fees, court costs, fees charged by licensed adoption agencies, attorney fees, traveling expenses, or other expenses directly related to the adoption.
Employee Assistance Program
To help you resolve personal problems or difficulties you or a member of your family may experience from time to time, we offer an Employee Assistance Plan or EAP.
The EAP provides totally confidential consultation, assessment, treatment coordination, and referral and follow-up services to help prevent your personal concerns from interfering with the quality of your life and work life. You can call the EAP's toll-free number at any time, 24 hours a day, 7 days a week.
AvalonBay has communities and offices across the country. We offer financial and temporary housing assistance to associates involved in a company-requested move.
One of our most unique benefits is our housing discount. We offer a generous discount on rent for those associates who live at an AvalonBay community. Plus, we offer the convenience of signing a month-to-month lease so you have complete flexibility with your living arrangement.
We strive to acknowledge and celebrate outstanding associate contributions through both formal and informal recognition, celebrating AvalonBay’s core values.