Paid Time Off
You earn paid time off according to your length of service during the calendar year, as shown in the chart below. Newly hired employees are advanced a prorated number of hours, based on their hire date.
|Years of Service||PTO Hours per Year|
|15 or more||200|
*If you work part time, your PTO allocation is prorated based on your scheduled hours. Note that PTO may vary based on the contract you work on or your location.
Raytheon generally provides an average of 12 holidays per year, including the week between Christmas and New Year's Day as well as others that are commonly observed: New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and the day after. Other holidays may vary by state and location.
Flexible Work Schedules
Innovation, creativity and flexibility are important in order for Raytheon to be able to respond effectively to changing business needs. Raytheon also recognizes the importance of workplace flexibility for its employees. Raytheon supports a variety of flexible work arrangements including compressed work weeks, flextime, job sharing, reduced hours and telecommuting. The particular flexibility options will vary depending upon the type of work performed and the work location, but examples of some that are available include:
Every other Friday off (9/80) — an employee works 9 hours Monday through Thursday and 8 hours on Friday of week A, 9 hours Monday through Thursday of week B and then gets Friday of week B off (works 80 hours over a two week period).
Every Friday afternoon off — an employee works 9 hours Monday through Thursday and 4 hours on Friday morning (works 40 hours each week).
Standard work week — an employee works 8 hours Monday through Friday (40 hours each week).
Modified work week — an employee may work either more or less than 8 hours in any day of a pay period as long as the balance of hours worked at the end of the pay period is 80 hours.
A maximum of 3 weeks of paid parental leave is available to eligible employees who meet the definition of a parent.
Dependent Care Flexible Spending Account
A Dependent Care FSA helps you pay for eligible dependent care expenses using pre-tax dollars. Examples of eligible expenses include most forms of child care up to the age of 13, as well as certain forms of adult care necessary in order for you and your spouse, if married, to work or go to school full time. Through payroll deductions, you may set aside on a pre-tax basis up to $5,000 per year if single and $2,500 if married and filing separate returns.
The LifeResources program is a nationwide integrated employee assistance program and resource and referral service designed to assist you with a wide range of work/life needs including information on:
- Autism Assistance
- Child care
- Pre-natal care
- Adult care
- Adoption information
- Academic services
- College planning
- Counseling services for personal or work-related issues
- Personal Services
LifeResources consultants are available 24 hours a day either by telephone or online to assist you, and can be reached by calling their toll free number or visiting their website.
Designed to offset the out-of-pocket costs associated with adopting a child. You can receive up to a maximum of $6,000 in adoption assistance benefits for each finalized adoption. This amount could be a taxable benefit depending upon financial guidelines as established by the federal government.
Raytheon believes in good community relations and in modeling stewardship of the environment. Currently offered in most states, the Transportation Benefit provides savings on commuting expenses through pre-tax payroll deductions. Only Raytheon commuting expenses are eligible including mass transit costs, vanpool expenses and parking. WageWorks administers the benefit.
How the Plan Works:
Similar to Raytheon's other reimbursement accounts, the Transportation Benefit allows you to have before-tax deductions taken out of your paychecks to pay for eligible expenses associated with your commute to work. Unlike either Dependent Care Reimbursement Accounts (DCRA), however, how benefits are paid depends upon what type of eligible expenses you have.
The following pages provide a general overview of the health care, income protection, investment/retirement and work/life benefits as well as some of the valuable extras available to eligible Raytheon employees.