Group Insurance
Group medical insurance is offered through BlueCross BlueShield for all full-time and part-time employees who meet the eligibility requirements. Employees become eligible on the first of the month after completing 30 days of employment. The Company pays 82% of the premium for employees and variable percentages of the premium based on class for employee family members.
Group short-term and long-term disability insurance, $20,000 term life insurance and accidental death and dismemberment insurance are offered through Sun Life Financial to all full-time and part-time employees who meet the eligibility requirements. Employees become eligible on the first of the month after completing 30 days of employment. The Company pays 100% of the premium for disability, term life and accidental death and dismemberment insurance.
Voluntary group dental insurance is offered through Assurant Employee Benefits to all full-time and part-time employees who meet the eligibility requirements. Employees become eligible on the first of the month after completing 30 days of employment. Employees pay 100% of the dental insurance premium through payroll deduction.
Voluntary group supplemental life insurance is offered through Sun Life Financial to all full-time and part-time employees who meet the eligibility requirements. Employees become eligible on the first of the month after completing 30 days of employment. Employees pay 100% of the supplemental life insurance premium through payroll deduction.
Section 125 Tax Savings Plan
A Section 125 Tax Savings Plan is offered to all full-time and part-time employees who meet the eligibility requirements. Employees become eligible to participate on the first of the month after completing 30 days of employment. The Section 125 Tax Savings Plan allows for contributions toward insurance premium, out-of-pocket medical expenses and dependent care expenses. Elections for out-of-pocket medical expenses are limited to $12,000 per plan year. Worksite Benefit Plans provides administrative services which are paid by the Company.
401(k) Plan
A 401(k) Savings Plan is offered to all full-time and part-time employees who meet the eligibility requirements. Employees become eligible to participate on the first of the month after completing six months of employment. The Company matches 100% up to an employee’s 2% contribution, plus 50% of the next 4% of an employee’s contribution. The Company may also make yearend discretionary profit sharing contributions. Fidelity Investments provides administrative services which are paid by the Company.
Educational Plan
An Educational Program is offered which pays for courses for the maintenance of professional designations and/or seminars and training programs suggested by a supervisor.
Holidays
Holidays paid by the Company are New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving, the day after Thanksgiving and Christmas Day.
Paid Time Off (PTO)
All full-time and part-time employees begin earning Paid Time Off (PTO) immediately upon hire. New employees are eligible to begin using accrued PTO after completing a three-month introductory period. PTO is earned on the basis of hours worked and length of employment. Earned rates are calculated according to anniversary date as follows:
- 0-4 years of employment = 12.5 hours per month (4 weeks per year)
- 5-9 years of employment = 15.625 hours per month (5 weeks per year)
- 10-15 years of employment = 18.75 hours per month (6 weeks per year)
- 16+ years of employment = 21.875 hours per month (7 weeks per year)
Employees may carryover to the following year up to a maximum of 60 days. Eligible employees are paid for earned but unused PTO upon termination up to a maximum of 60 days.
As of 07-01-2008
