To be eligible for medical, dental, the flexible spending plan and 401(k) benefits, the employee must receive a StuartCo payroll check from which the premiums can be deducted. Medical, dental, 401(k) and flexible spending account contributions are withheld on a pre-tax basis. Coverage for medical, dental, life and flexible spending benefits is effective the first day of the month following 60 days of continuous employment.
StuartCo offers Delta Dental insurance coverage to regular employees actively working 30 or more hours per week. Coverage options include Employee Only, Employee + Spouse, Employee + Child(ren), and Family.
StuartCo offers the choice of three Medica medical plan options to regular employees actively working 30 or more hours per week. An employee discount will be applied (one discount per family) when an employee attests to the non-use of tobacco products, meets other health criteria, and completes the proper paperwork. Coverage options include Employee Only and Family.
Health Savings Account (HSA)
Employees enrolled in one of the company’s high deductible health plan options may set aside pre-tax monies to pay for eligible out-of-pocket healthcare expenses [IRS Code 213(d)]. Unused account balances roll over from year to year.
401(k) Retirement Savings Plan
Regular employees may begin voluntary participation in this plan after satisfying the age and service eligibility requirements: Attainment of age 21 and one year of continuous employment plus 1,000 hours of service during the one-year waiting period are required. StuartCo will make a matching contribution of 50% on every dollar saved by the employee for his/her first 6% contributed. There is a vesting schedule on employer-matched monies, the plan allows for rollovers from previous employers, and hardship loans are permitted under this plan.
Regular employees who actively work a minimum of 30 hours per week are eligible for this benefit. The basic group term life and accidental death & dismemberment coverage is two times the employee’s annual base compensation to a maximum of $50,000. StuartCo pays the entire cost of this benefit.
Short-Term Disability Insurance
This group disability insurance plan pays 60% of an employee’s total weekly base compensation to a maximum of $1,000 per week if the employee were to become disabled. The benefit payment would begin on the 22nd day of disability and continue for a maximum of eight weeks. All accrued PTO must be used during this waiting period. Regular employees who actively work a minimum of 30 hours per week are eligible for this plan, with coverage beginning the first day of the month following 60 days of continuous employment. StuartCo pays the entire cost of this benefit.
Long-Term Disability Insurance
This group disability insurance plan pays 60% of an employee’s monthly base compensation to a maximum of $10,000 per month if the employee were to become disabled. If eligible, the benefit would begin on the day following 90 days of disability and may continue up to the time the employee reaches Social Security Normal Retirement Age (65-67 years old). Regular employees who actively work a minimum of 30 hours per week are eligible for this plan, with coverage beginning the first day of the month following 60 days of continuous employment. StuartCo pays the entire cost of this benefit.
Flexible Spending (Section 125) Plan
Regular employees who actively work a minimum of 30 hours per week may pay for certain eligible expenses on a pre-tax basis, thus reducing the employee’s taxable income. Eligible expenses include: Premium contributions paid by the employee to the company for medical and/or dental plan coverage; medical and/or dental expenses not covered by insurance; and dependent care expenses.
Participating employees pay no federal income tax, state income tax or social security tax on any dollars allocated to the plan.
Paid Time Off (PTO)
Employees begin accruing paid time off (PTO) from their date of hire. Paid time off is provided for all time off needs. The year begins January 1; an employee may carry over a portion of the current year’s accrual into the following year (limitations apply). Time off usage and accrual balances will appear on the employee’s pay statement, with accrual rates increasing at the employee’s one, five, and ten year anniversary. Paid time off will accrue based on each regular hour worked (not including overtime hours).
StuartCo employees observe the following seven holidays each calendar year: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Christmas Eve and Christmas Day.
Any employee actively working 30 or more hours per week who chooses to live on a StuartCo property will receive a 10% reduction off the market rent. A rent allowance may reduce an employee’s taxable compensation. Eligibility for this rent discount is effective once all pre-employment screenings are successfully completed and the employee is allowed to move onto the property.
Some of the other benefits StuartCo offers to eligible employees include: bereavement, jury duty, and military leave, fitness facility discounts, credit union membership, access to additional accident/critical care and short term disability insurance, discount tickets to the Renaissance Festival and other local attractions, and party room use.