Total Rewards

Eligible OceanFirst employees are auto-enrolled in the Bank’s 401(k) Retirement Plan which features diversified investment options, annual auto-escalation, and a safe harbor employer match contribution after one year of service (up to a maximum 3.5% match based on the first 6% of employee deferrals). Additional participant options include pre-tax deferrals and/or Roth post-tax contributions up to IRS maximum limits and catch-up contributions are allowed for participants age 50 and above.

Our Red Bank and Toms River Headquarters each house state-of-the-art fitness centers for employees and their eligible family members to enjoy. Fitness center equipment includes free weights, exercise machines, cardio machines such as treadmills and Peloton bicycles, on-demand fitness classes, and fully appointed locker rooms.

OceanFirst’s comprehensive benefits package supports the needs of our employees and their families. The Bank’s health and welfare programs include three medical plans (including a High Deductible Health Plan with a Health Savings Account), two dental plan options, a vision plan, life and disability plans, flexible spending accounts and commuter benefits.

OceanFirst provides employees and their household family members with access to a comprehensive Employee Assistance Program (EAP). The EAP is a confidential counseling and referral service designed to assist employees in navigating personal or work-related challenges and life events.

OceanFirst’s partnership with Wellbeats provides a complimentary online subscription to on-demand content for all ages, fitness levels and interests. Access virtual fitness, nutrition, and mindfulness classes using a mobile device, tablet, or your desktop computer. Whether you’re an expert at yoga or new to running, looking for ways to eat healthy or need support for your mental health, there are a variety of ways to improve your well-being with Wellbeats.

ESOP is a retirement plan fully funded by the Bank that rewards eligible employees with shareholder ownership. ESOP shares are allocated amongst eligible participants based on regular compensation earned during the year, up to IRS maximum compensation limits. Participants are fully vested after 5 years of service.

Eligible employees who are the caregiver for the newly born, newly adopted, or permanently placed child are eligible for up to eight (8) weeks of paid parental leave benefits at 100% of the employee’s base rate of pay at the onset of leave and are offset by any applicable statutory income replacement programs for which the employee must apply.