Rocket Software offers a wide selection of employee benefits, focused around flexibility, competitiveness, low out-of pocket premiums, and excellent employee service and satisfaction. Employees immediately see the advantages of our benefit options, including health insurance and a 401(k) plan with an employer contribution.
Rocket Software offers the Blue Cross/Blue Shield HMO Plan for Massachusetts employees and Blue Cross/Blue Shield PPO Plan for all of our Out of State employees. In order to be eligible for the health plans, you must be a permanent employee who works greater than 30 hours per week. Cover for eligible employees becomes effective on your first day of employment. Rocket Software contributes 100% towards the cost of the medical plans for both the employee and their families.
Rocket Software offers the MetLife Dental Plan. In order to be eligible for the dental plan, you must be a permanent employee who works greater than 30 hours per week. Cover for eligible employees becomes effective on your first day of employment. Rocket Software contributes 100% towards the cost of the dental plan for both the employee and their families.
All regular, full-time employees earn paid vacation leave according to the schedule below.
| Years of Service | Monthly Accrual | Annual |
| One to five years | 1.25 days | 15 days |
| Six to nine years | 1.66 days | 20 days |
| Ten years and beyond | 2 days | 24 days |
Under the maximum carry over policy, employees are able to carry over into a new calendar year 40 hours of vacation time. Any hours over 40 will be forfeited.
Rocket Software provides up to 8 days of paid sick time, which accrues at the rate of 2.66 hours per pay period. There is no sick time carry over from year to year.
Employees are eligible to receive two (2) personal days within the calendar year. For the first year of service, personal days will be pro-rated at a 1 day for each six months of service.
Rocket Software provides ten paid holidays each calendar year.
At no cost, Rocket Software offers Life and Accidental Death & Dismemberment Insurance coverage to permanent full time employees. The value of the insurance is equal to three times (3X) gross compensation to a maximum of $500,000.
Coverage value is 60% of the employee's normal weekly earnings to maximum weekly payment of $1,500. The maximum coverage period is 13 weeks. Coverage commences after an initial waiting period of 5 working days. During this waiting period, employees may use any available sick time or vacation time. An application for STD will require an attending physician's verification that the employee is unable to perform his/her assigned duties and an estimated time of absence. There is no cost to the employee.
Coverage value is 60% of your normal monthly earnings to maximum monthly payment of $12,500. Coverage commences after an initial elimination period of 90 days. There is no cost to the employee.
All employees are eligible to enroll in the 401(k) plan after completing three months of service. You are eligible to contribute up to 60% of your pre-tax dollars to the plan following the IRS guidelines on the maximum contribution allowed per year. Each year Rocket will make a non-discretionary match in an amount equal to 50% of your pre-tax contributions. The matching contribution is subject to a maximum of 6% of your eligible compensation contribution to the plan.
All employees are eligible to participate in this plan which allows employees to pay for certain qualified expenses for health care and/or dependant care expenses with pre-tax dollars. Elections are made at the beginning of the plan year and once made, benefits may not be changed unless there is a change in family status. The maximum deduction allowed is $5,000.00 for the Medical Account and $5,000.00 for the Dependant Care Account.
All employees are eligible to participate in this plan which allows employees to save today to meet the rising costs of higher education tomorrow. With a minimum $25 semi-monthly payroll deduction, you can enroll in one of the automatic investment plans available. Additional information can be found at www.collegeboundfund.com The CollegeBoundfund is a flexible college savings program that helps making saving for a child's higher education easier. Available to everyone - parents, grandparents, friends and family. There is no federal income tax due on any earnings while they are in your CollegeBoundfund account. When withdrawn from the account for qualified higher education expenses, the earnings are taxed at the beneficiary's federal tax rate.
