The benefit programs offered for the employees in U.S. sites are summarized below.
Employees can choose between available medical insurance plans. In all cases, premiums are determined based on choice of plan and coverage. The charts below offer an overview of the plans.
401 (k) Retirement Plan
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A qualified defined contribution plan with both a pre-tax and an after-tax option for deferrals. The company match is 150% of the first 3% of contribution, plus 50% of the next 2% of contribution. Employees may select from 15 investment funds plus 4 asset allocation models offering varying rates of return and risk. |
| Vacation & Vacation Purchase |
Vacation plan is based on length of service. Vacation hours are accrued on a monthly basis. Long service employees may accrue a maximum of four weeks of vacation annually. Employees may also choose to purchase up to 40 additional vacation hours per year. |
| Holidays |
88 hours of holiday leave each calendar year. New employees receive holidays within the first year on a prorated basis. The company decides annually which days will be designated holidays. The remaining hours may be used at the employee's discretion. |
| Flexible Spending Accounts |
Opportunity to set aside dollars on a pre-tax basis through payroll deduction in Flexible Spending Accounts (FSA). Calendar year maximums of $2,500 for the Healthcare FSA and $5,000 for the Dependent Care FSA apply. The Healthcare FSA offers a debit card which often eliminates the need to submit claim forms for reimbursement. |
| Life and AD&D Insurance |
Employees are provided with a life insurance and accidental death and dismemberment insurance benefit equal to 100% of the employee's annual base pay. |
| Supplemental Life and AD&D Insurance |
Employees have the opportunity to purchase supplemental life insurance up to five times their annual salary, subject to a $500,000 maximum. Additional Accidental Death and Dismemberment (AD&D) insurance may be purchased up to a maximum of $500,000. Both programs provide the opportunity to purchase insurance on spouse and dependents. |
| Short Term Disability |
Provided for employees with a qualified accident, sickness or pregnancy. The program pays 100% of the employee's salary for the first 45 days of qualified disability and 80% for the following 45 days. |
| Long Term Disability |
For employees with a disability that continues beyond 90 days. This program provides a benefit equal to 60% of the employee's salary up to age 65, if applicable. |
| Illness Pay |
Employees accrue 8 hours of illness pay per completed month of service. Illness hours may be accrued up to a maximum of 96 hours. |
| Business Travel Insurance |
A business travel insurance program for all employees who travel on company business. |
| Employee Assistance Plan |
A confidential counseling and referral service for employees and their dependents. Additional work/life assistance services, such as childcare and elder care referrals, legal advice, school searches, prenatal care programs and financial planning assistance, are also provided at no charge. |
| Adoption Assistance Program |
Reimburses employees up to $3,000 for eligible legal, medical and agency fees related to an adoption. |