Benefits
At Altarum Institute, we consider our benefits to be highly competitive. The information below is an overview of our compensation package. Altarum’s total compensation package is designed to be flexible by offering choices that best meet each employee’s needs.
Base Pay
Altarum’s base pay approach recognizes the importance of competitive compensation.
Base pay policies and practices within Altarum support fairness, equity, and collaboration among our various operating units.
We determine our base pay levels by researching:
1. External pay practices within our own industry
2. Segments of the corporate community within which we must compete for similar employee competencies and skills
Our base compensation system is reviewed annually for competitiveness.
Professional Growth
Career progression at Altarum is an integral part of our commitment to providing diverse and fulfilling growth opportunities. Advancement at Altarum can be achieved by demonstrating leadership and planning/independence in management, marketing, or technical expertise within an employee’s field of work.
Health and Welfare Benefits
Altarum offers a generous array of benefits to regular employees who are working at a 50 percent appointment or greater. All employees who are eligible may enroll for and begin receiving their benefits on the first day of employment. Altarum pays for many of the benefits. Those that are not entirely company-paid have reasonable employee contributions and many can be paid with pretax dollars.
Health and welfare benefits include:
- Medical Coverage
- Dental Coverage
- Vision Care
- Life and Accidental Death and Dismemberment Insurance
- Disability Insurance
- Long Term Care Insurance
- Reimbursement Accounts
- Employee Assistance Program
Retirement
Altarum offers a 401(k) plan that is designed to help employees save for retirement in a tax-effective manner. The 401(k) plan helps provide employees with a solid foundation for added financial security during their retirement years. There are two components to the Altarum retirement plan: the employer contribution and the employee contribution. Employee contributions to the plan can be made pretax or post-tax (Roth option). With the Altarum 401(k) plan, employees are always 100 percent vested in their contributions and rollover contributions, plus any earnings that they generate. Employer contributions to the plan, plus any earnings that they generate, will be 100% vested in 5 years (20% per year).
PTO and Holiday Pay
At Altarum, we encourage our employees to maintain a healthy balance between their work and personal life. Full-time regular employees, and reduced schedule regular employees working at a 50 percent appointment or greater, are eligible to accrue annual PTO. PTO includes vacation, sick, and personal PTO, and accrual rates increase with tenure. In addition to PTO, full-time employees will be paid for company-observed holidays. Eligible reduced-schedule employees will accrue PTO and holidays on a prorated basis, depending on their appointment percentage.
Tuition Assistance
In support of professional growth, Altarum offers educational assistance and training opportunities. All regular employees working at a 50 percent appointment or greater are eligible for the full amount of tuition assistance. Tuition assistance begins on the first day of employment. Educational assistance is typically paid in advance of course completion and covers tuition, registration fees, continuing education fees, and technology fees up to $5,250 per calendar year (January 1 to December 31). In addition, training opportunities (e.g., short-term training classes) are available for most employees.
