Benefits & Time Off
Page Summary: OCV Guidelines on Employee Benefits, PTO, Holidays, Remote Work, and Parental Leave.
Benefits
Benefits are available to OCV team members working full-time (minimum of 30 hours per week).
Healthcare (Medical, Dental, Vision)
Full-time, US-based team members can select benefit coverage through their payroll system account. Coverage for new hires begins on the first of the month, on or after hire.
Annual open enrollment generally starts around the end of July through the first week of August. New plans start on October 1 of each year. Employees have the option to contribute to Health and Dependent Care FSA accounts.
LLC partners are not eligible for tax-advantaged accounts of any kind per IRS restrictions.
401K Matching
Auto-enrollment 3 months after the start date.
100% of contributions on the first 4%, deferred.
Annual contribution and company matching limits follow IRS and ERISA rules.
Life Insurance (Basic)
Coverage up to USD $50,000.
Long-Term Disability
60% monthly income up to $6,000
Sick Leave
160 hours earned throughout the year (by pay period). The remaining time-off balance for this policy is not paid out upon employee termination.
Parental Leave
Full-time employees who have completed at least one year of continuous service with OCV are eligible for parental leave.
Holidays
OCV observes the following 10 holidays in the U.S.:
New Year’s Day
Martin Luther King Jr. Day
President’s Day
Memorial Day
Independence Day
Labor Day
Thanksgiving Day
Day after Thanksgiving
Christmas Day
Plus one holiday of choice (and significance) for each employee. This must be an actual holiday. For example: Lunar New Year, Good Friday, Juneteenth, Yom Kippur, Veterans’ Day, etc.
Non-U.S. employees observe local statutory holidays. Please discuss with your manager to set holiday schedules in advance.
Unlimited PTO
Our "don't ask, do tell" policy means you inform your manager when taking time off. Approval is required for extending beyond three weeks. No accruals or carryover. PTO is not paid out upon termination.
Contractor PTO Policy
Generally, contractors are not eligible for paid time off.
Immaterial time periods are generally permissible, e.g. half-days, as part of normal remote work flexibility. Material time-off should be discussed with management in advance, and the invoice rate may need to be adjusted accordingly, especially if billed on a weekly or monthly rate.
Taking time off
When you take any time off:
Let your manager and team know as soon as possible. (e.g., send a message in your team's Slack channel)
Request time-off in OCV’s payroll management system for PTO tracking & reporting
Designate a backup team member for anything that needs covering while you're out. (i.e., meetings, planned tasks, unfinished business, important chat/email threads, anything where someone might be depending on you)
Mark an all-day "out of office" event in your work calendar for the day(s) you're taking off
This process is the same for any days you take off, regardless of whether it's a holiday or you just need a break.
Remote work policy
We are remote-first, although travel may be required occasionally. As part of our remote-first policy, we ask employees to live and work within one of the four states (CA, CO, TX, NY) where OCV maintains current state registrations.
Moving to a new address
State payroll tax jurisdiction cannot be changed during a pay period; a location change has to coincide with the beginning of a pay period.
Moving within your current state
Employees must notify their managers and update their home address profile in the payroll system as of their move date, even if it’s just a new zip code a couple of miles away. Delayed reporting can trigger missed city-specific registration deadlines and incur unnecessary time and costs to remedy the penalties.
Moving to a new state
When moving to a state where OCV has a current state registration, employees must notify their manager and the Accounting Team in advance and update their home address profile in the payroll system as of their move date.
New state registrations
If you are planning a move to a state where OCV does not maintain current state registration, employees must discuss with their manager and obtain approval before the move. New state registrations can take time to set up and incur significant additional management overhead for the business. OCV will need to evaluate the business case for the move as part of the approval process.
Without prior approval, a move to a location without proper business registration may result in termination because we can’t legally hire you to work in that state.
Remote work perks
For full-time OCV (the firm) team members:
Home internet reimbursement
Home office setup reimbursement (up to USD $1,000) or access to a co-working space (comparable to WeWork All Access pass), if desired
Cell phone service stipend (USD $50/month). Team members will need to use personal cell phone numbers for business use occasionally. This stipend is included in your paycheck.
Home office setup
Company-sponsored equipment required for all teammates:
Laptop: We recommend Apple MacBook Pro 14", 512 GB for non-engineers, and Apple MacBook Pro 16" for engineers. The laptop will be purchased for you by the company and delivered to you before your start date. Team members may purchase a new laptop every 36 months. (Old laptop needs to be returned to the company.)
Lighting for video conference, if your workspace does not have enough lighting
High-speed internet
Power source, if it's not reliable in your area
Recommended workspace accessories:
Monitor
Headset
Microphone
Upgraded webcam
Mouse
Keyboard
Ergonomic chair
Adjustable desk, standing desk converter, or co-working space (if you opt out of the adjustable desk)
These accessories can enhance productivity, comfort, and meeting experience. While the company can sponsor these items, we ask that team members only purchase accessories if needed. Any additional requests for equipment not listed can be discussed with your manager for approval.
Parental Leave
OCV is committed to supporting its employees during significant life events, including the arrival of a new family member. Our parental leave policy is designed to provide eligible employees with the time and financial support they need to bond with and care for their newborn or newly adopted infant child.
Leave duration
Employees are entitled to three months (12 weeks) of leave for bonding. This leave can be taken consecutively or in two-week separate blocks within the first year following the birth or adoption of a child.
OCV will ensure an employee is paid 100% of their salary for 12 weeks after taking into consideration any state-provided benefits to which the employee is entitled. OCV extends this paid benefit to all its employees regardless of the state of employment. All employees must apply for and obtain whatever state benefits are available to them. San Francisco employees must also be eligible under the PFL program to receive PFL compensation for the purpose of bonding with a new child.
Communication during leave
While on parental leave, employees are encouraged to stay in touch with their team and remain informed about any significant changes or developments within the company. However, employees are not required to perform work duties during this period.
Note: this policy is specifically designed for OCV employees based on our business needs, which may not be appropriate for the goals and objectives of OCV companies. OCV companies are encouraged to develop their own parental leave policy.
Request parental leave
To request parental leave, employees must provide at least 12 weeks' advance notice to their manager. The request should include the anticipated start date of the leave and any specific scheduling preferences.
Supplemental benefits
If an employee participates in the company’s group health plan, they will maintain coverage during their Parental Leave on the same terms as if they had continued to work. If applicable, an employee must make arrangements to pay their share of health plan premiums while on leave. In some instances, the company may recover premiums it paid to maintain health coverage or other benefits for the employee and their family.
Use of Parental Leave will not result in the loss of any employment benefit that accrued before the start of their leave.
Returning to work
At the conclusion of the parental leave, employees are expected to return to their regular duties and schedule. OCV will make reasonable efforts to accommodate any requests for flexible work arrangements upon return.
Job protection
Employees on parental leave will be protected from any adverse employment actions, and their position or an equivalent one will be available upon their return. The continuation of benefits during the leave will be subject to the employee's regular contribution.
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