Bank of America Extends Parental Paid Leave to 16 weeks; New Benefits Can Be Used on Parents Own Schedule

Bank of America today announced it is extending paid time off for maternity, paternity and adoption

leave up to 16 weeks, along with the flexibility for parents to plan their leave when it works best for

their family within the first year of their child arriving. Today’s announcement adds to a robust set of

resources and programs supporting bank employees in the moments that matter most — including

when they welcome a new child into their family.

Bank of America has been recognized as a leader in workplace benefits for families that includes

childcare reimbursement (up to $240 per month per child for eligible expenses); back up care

resources when regular child or adult care arrangements are temporarily unavailable, adoption

reimbursement (up to $8,000) and Employee assistance services such as confidential counseling and

resources to assist with parenting issues, school information, legal services and financial planning.

As a whole, such benefits reflect the company’s ongoing commitment to ensuring its workplace

policies contribute to a culture that embraces and accommodates the diverse lives of its employees.

That commitment is core to one of its operating principles: To be a great place to work.