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Accidental Death & Dismemberment
The Company provides $100,000 in Accidental Death and Dismemberment Insurance.
Short Term Disability Insurance
The STD program, which is a self-administered plan, provides income equal to 50% of basic earnings after an 8-day waiting period for up to 180 days.
Long Term Disability Insurance
The LTD program, which is administered thru the STANDARD INSURANCE COMPANY, provides employees a source of income in the event of disability, injury or illness of over 180 consecutive calendar day's duration. The plan provides that benefits will be paid at a rate of 50% after tax (non-taxable) of basic earnings to a maximum of $9,000 per month.
Thrift (401k) Plan
Full time employees with 90 days of service may save a percentage of base pay (between 1% and 20%) up to the annual IRS limit. All contributions are made on a ("Before Tax") basis and interest and earnings accrue on a tax-deferred basis. The funds are managed by the New England Mutual Life Insurance Co.
Project Incentive Plan
Full time employees are eligible to participate in the Company's incentive program. Based on exceeding planned project profit targets, a percent of these profits are distributed to employees on a discretionary basis. The timing of distributions is dependent solely on the successful "close out " of projects as defined by the Company.
Profit Sharing Plan
Based on Annual Profit, an amount may be allocated to plan participants. Full time employees who have completed a minimum of 18 months of service on July 1st are eligible and employees are 100% vested after 5 years of service.
Tuition Reimbursement Plan
Full time employees with 1 year of service are eligible to participate in the Tuition Reimbursement Plan. The Company reimburses 80% of the tuition costs for approved courses or programs taught at accredited Colleges or Universities.
Holidays
The company observes the following schedule of Holidays (below listed for 2003).
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