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Company Benefits - Salaried Non-Exempt Employees
Vacation and Paid Holidays
BACK TO THE TOP
Vacation time off with pay is provided to you based
upon the following schedules:
Hired September-December 1 week
Hired January-August 2 weeks
1-5 years 2 weeks
6-17 years 3 weeks
18 and up 4 weeks
The eligibility date for measuring continuous service for vacation is
June 1. The vacation year runs from June 1 of each year through May 31
of the following calendar year. Vacation is not actually earned until
4 months of service, but some may be taken prior to 4 months if requested
30 days in advance and approved by Supervisor. Any employee leaving the
Company prior to completing 4 months of service will not receive any remaining
vacation pay.
Holidays
The Company observes the following holidays:
New Year's Eve
New Years Day
Good Friday
Memorial Day
July 4th
Labor Day
Thanksgiving
Friday after Thanksgiving
Christmas Eve
Christmas Day
Tuition Reimbursement
BACK TO THE TOP
Employees will be 100% reimbursed for the cost of registration
fees and tuition for approved courses of study, which will increase their
competence in their present jobs or will prepare them for future related
assignments.
Reimbursement will be given for approved courses at approved technical
institutes, trade schools, correspondence schools, and accredited colleges
and universities, providing employee receives grade of "C" or better.
Retirement Plans
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A retirement plan is offered to Employees that meet
the eligibility requirements below. Employees can elect to participate
in the 401(k) Plan and the Pension Plan participation is automatic.
Eligibility Requirements For The Plan
You are eligible to participate in this Plan if you are expected to work
at least 1,000 hours in a year.
Vesting Requirements For The Plan
The 401(k) Plan:
You are always 100% vested in your own deposits to the Plan. The Company
contribution will be 100% vested once you have completed 5 years of service.
The Pension Plan:
You are 100% vested in your pension benefit once you have completed 5
years of service.
Retiring Under The Plans
The 401(k) Plan:
The normal retirement age is 65.
The Pension Plan:
The normal retirement age is when you reach your Social Security retirement
age. If vested, you may receive a reduced Pension benefit at age 55. The
normal form of payment is a life annuity for single participants and a
spouse's joint and 50% survivor annuity for married participants. Various
optional forms of payment are available.
General Information On The Plans
The 401(k) Plan:
Before-Tax deposits are through payroll deduction. Participants can elect
to deposit up to 20% of their pay. The Plan provides for a 40% Company
Matching Contribution up to 5% of base pay. Withdrawals are allowed in
accordance with Plan guidelines.
The Pension Plan:
The Pension Plan is a defined benefit plan,
which means your benefit is figured according to a specific formula. The
formula takes into consideration your average monthly earnings, credited
service, and the Social Security wage base.
Health Care Coverage
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Under this plan you are provided medical, dental and prescription coverage.
Coverage begins on your first day of employment.
Medical
- No premiums
- No deductible
- Plan pays 70% of in-network covered charges
- Plan pays 60% for out-of-network coverage charges
- Annual out-of-pocket maximum of $1500 individual and $2000
family
- Once out-of-pocket maximum is met, covered charges are.covered
at 100% for the remainder of the calendar year.
- $750,000 per individual lifetime maximum
- $50 copay for Emergency Room visits
- Plan pays @ 70% (in-network) charges for the following wellness
care:
- 1 annual pap smear
- 1 annual mammogram
- 1 annual prostate exam
- Well Baby Care up to 24 months, including immunizations,
up to $1000
Dental
- Annual deductible of $125 individual and $250
family
- Plan pays 80% for coverage charges once deductible
has been met
- $1,000 per person annual maximum
Prescription Drug
- Provides a Network Pharmacy Chain (no forms are required)
- $7 plus 30% copay and coinsurance on Brand name drugs
- 20% coinsurance on Generic name drugs
- Provide a Mail Order Program (for maintenance medication)
- $30 copay for a 90 day supply of a Brand name drugs
- $5 copay for a 90 day supply of a Generic name drugs
Life Insurance Plan
BACK TO THE TOP
This plan is at no cost to you and coverage begins on
your first day of employment. Your life insurance benefit is 2x your annual
base salary.
Accidental Death & Dismemberment Coverage
This plan is at no cost to you and coverage begins on your first day of
employment. This coverage provides an additional benefit of 2x your annual
base salary in the event you die as the result of an accident. A benefit
is also payable, if you lose a limb; sight; speech; hearing or become disabled
while traveling on Company business.
Voluntary Accidental Death & Dismemberment Coverage
You can purchase additional accidental death & dismemberment coverage for
yourself and coverage for your family. If elected, participation can begin
on your first day of employment.
Business Travel Accident Coverage
This plan is at no cost to you and coverage begins on your first day of
employment. A benefit is provided to your beneficiary in the event of your
death due to an accident while traveling on Company business.
Short Term Disability Coverage
This plan is provided at no cost to you and coverage begins on your first
day of employment. Disability income payments are made in accordance with
the following schedule. If you have less than 5 years of service with the
Company , you will receive 100% of your pay for the first 4 calendar weeks.
As of the 5th week, you will receive 60% of your pay up to 26 weeks. If
you have 5 years or more of service with the Company, you will receive 100%
of your pay for 26 weeks. After the first 6 months until recovery, the Long-Term
Disability program, combined with Social Security, will replace 60% of your
salary. If disabled to normal retirement age, a normal pension benefit with
full service credit for all years coverage under the Long Term Disability
program will be available to you.
Flexible Spending Accounts
BACK TO THE TOP
This is a tax-favored program that allows you to pay
for specific out-of-pocket expenses with before-tax money. There are 2 accounts
that you can elect to participate in as of your first day of employment.
- Health Care Account
This account allows participants to contribute monies on a before-tax
basis for qualified dependent care expenses not covered by insurance.
- Dependent Care Account
This account allows participants to contribute monies on a before-tax
basis for qualified dependent care expenses that allow you to
work.
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