BENEFITS SUMMARY 2020
At Milone & MacBroom, we recognize the importance of employee health. As an extension of our corporate culture we offer a holistic approach to our benefits package which provides a positive benefit to our employees. We offer a fun and positive work environment that allows our employees to learn, grow, and thrive both personally and professionally. We recognize that maintaining a work-life balance results in more productive employees. In addition to paid holidays and paid time off, we offer a health insurance program, flexible policies, a wellness program, and opportunities to give back to the community and more. This brochure is intended to be an informational summary of our company benefits. For additional information on the company’s Benefits Program, please contact Human Resources.
ELIGIBILITY • New employees become eligible for health insurance first of the month following date of hire. • Holiday time begins on the first day of service. • Paid time off begins accruing on the first day of service. • 401k Retirement Plan – Eligible employees are automatically enrolled on the first day of the month after 3 months of service. 2
PAID TIME OFF HOLIDAYS
PAID TIME OFF (PTO)
The following holidays are observed:
PTO is offered to full and part-time employees who work 24 hours or more per week at a rate based on the following schedule:
• • • • • • • • • •
New Year’s Day Martin Luther King Day (Community Service Day) Memorial Day Independence Day Labor Day Thanksgiving Day The Day after Thanksgiving Christmas Eve Christmas Day Boxing Day
Martin Luther King Day is observed as a day of community service. Please refer to the Employee Manual for additional details.
Completed Years of Service (with SLR)
Earned PTO Rate (Full-Time Employees)
0 - 4 years of service
15 days
5 - 9 years of service
20 days
10 or more years of service
25 days
Part-time employees will accrue an apportioned rate determined by the actual number of hours paid per week.
From holiday fun to charitable work, we are always in the spirit of giving. 3
INSURANCE MEDICAL & VISION
DENTAL
Our current medical insurance offers a choice between two different plans through Cigna.
Our dental insurance offers coverage through Cigna. The plan covers 100% for preventive and diagnostic care. After the $50 individual/$150 family calendar year deductible is met, the plan will pay 80% for basic restorative care and 50% for major care, up to an annual maximum benefit of $2,000. Orthodontic care is also offered.
The Open Access Plus Plan requires copayments for visits and provides 80% coverage for in-network expenses after the plan deductible for diagnostic lab and x-rays, outpatient surgery/hospitalization, and pays 100% for preventive services. Prescription drugs are paid in accordance with the copayment schedule as outlined in the benefits document. The HSA OAP Plan offers a high deductible medical plan ($1,500 Individual/$3,000 family). You can open up a health savings account. The plan covers in-network expenses at 80% coverage after the plan deductible is met. Preventive services are paid at 100%. Prescription drugs are paid at 80% after the plan deductible is met. Vision coverage offers a choice of two plans with a $10 copayment for routine exams and allowances for eyeglass lenses, contact lenses and frames through an in-network provider offered through VSP or EyeMed.
2020 Bi-Weekly Medical, Dental, and Vision Costs Coverage Options
Medical HDHP/ HAS (HSA OP)
Medical Traditional PPO (Open Access Plus)
Dental
Vision
Employee
$86.00
$112.50
$9.00
$1.00
Employee & Spouse/DP
$181.00
$236.50
$19.50
$1.50
Employee & Children
$164.00
$214.00
$20.50
$1.50
Employee & Family
$259.00
$338.00
$32.00
$3.00
GROUP TERM LIFE WITH AD&D Employees are covered for basic term life insurance at 1.5 times your earnings, up to a maximum of $200,000. Accidental death and dismemberment coverage pays 1.5 times your earnings, up to a maximum of $200,000. Benefits will reduce to 65% at age 70, and 50% at age 75.
SHORT/LONG-TERM DISABILITY Employees are covered for short-term disability benefits that provide weekly income if disabled due to an accident, illness, or pregnancy. Benefits begin on the 8th day and 1st day if due to hospitalization. The benefit provides income protection of 60% of weekly wages, up to $2,000 per week for 13 weeks. If a disability keeps you out of work for a long period of time, the company provides long term disability coverage. The benefit begins after the 91st day of disability and provides 60% of monthly base wages, up to $6,000 per month.
For employees enrolled in the HDHP, the company will contribute to the health savings account based on participation in the wellness program.
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ADDITIONAL BENEFITS SUPPLEMENTAL LIFE INSURANCE Employees may purchase additional life insurance protection through lower group rates.
FLEXIBLE SPENDING ACCOUNTS Employees can set aside pretax money to pay for eligible outof-pocket health care and dependent day care expenses. Health Care Flexible Spending Account (HCFSA) The health account allows you to fund your out of pocket medical, dental, and vision expenses, such as copays and deductibles, with pretax dollars. Dependent Care Flexible Spending Account (DCFSA) The DCFSA allows you to fund the costs of dependent day care expenses on a pretax basis.
COMMUTER BENEFITS Commuter benefits program allows employees who commute to and from work to set aside pre-tax funds to pay for their work-related mass transit and parking expenses. Eligible expenses for the transit benefit include transit passes, fare cards, ticket books, and vanpool expenses.
Milone & MacBroom / SLR offers a comprehensive benefits package.
Additional Benefits Include: : • Business Travel Accident • Medical Benefits Abroad • Employee Assistance Program • Pet Insurance
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HEALTH & WELLNESS WELLNESS PROGRAM The company offers a health and wellness program designed to help employees improve and sustain healthy behaviors through health education and activities that will support positive lifestyle changes. The following programs and efforts support our employee’s overall health and wellness in a number of ways:
• Medical coverage with a wide range of preventive services free of charge
• • • • • •
Employee Assistance Program Health risk assessment & health screenings Family fitness wellness initiatives Annual Wellness Fair & Flu Clinic Team & individual wellness challenges Support for employees participating in healthy activities (i.e., runs, walks, etc.)
• Nutrition programs that include a Farmer’s Harvest/ Community Supported Agriculture (CSA)
• On-site Fitness Center (at some offices) • Health education seminars, healthcare tools & resources
Milone & MacBroom is proud to have met American Heart Association criteria for Silver recognition in the AHA’s Workplace Health Achievement Index. See heart.org/workplacehealth for more information.
Milone & MacBroom is the proud recipient of the 2019 Cigna Well-Being Award. This is a distinct honor for workplaces that are making a difference in the health and wellbeing of their employees.
We support Family Fitness!
COMMUNITY OUTREACH COMMUNITY INVOLVEMENT Our goal is to create healthy and vibrant communities where we live and work. We connect to our communities through our projects, company sponsored initiatives, and through the individual efforts of our employees who actively volunteer and give back to their communities and neighborhoods to make the world a better place. Through community and volunteer efforts, the company’s commitment to serving our communities is reflected in a variety of ways that include supporting clean water education and cleanup of rivers, food and clothing programs for those in need, and hosting an annual book drive to promote early childhood literacy for Read to Grow. We foster an interest in programs that support engineering and other professional careers through involvement in job shadowing opportunities, on-site visits, and other career-related programs for high school and college students. We also support our employees who participate in training programs as first responders, professional and community boards, and mentoring opportunities. We participate in on-site blood drives, charitable team building events, community health walks and races that benefit a charitable cause, Habitat for Humanity, initiatives to support our military personnel, fundraising for worthwhile causes, and other initiatives through charitable and nonprofit organizations.
A partial listing of organizations where either our employees or our firm has participated or supported include:
• • • • • •
American Red Cross Ronald McDonald House Operation Gratitude American Heart Association Go Red for Women Source to Sea River Cleanup New Haven Bike Month
MARTIN LUTHER KING DAY OF SERVICE One of the more unique initiatives that the firm has adopted is our Martin Luther King Day of Service. Several years ago, we incorporated Martin Luther King Day as a holiday, with the provision that we encourage employees to provide a day of community service. Through determination and teamwork, employees used their talents and skills and forged new friendships as they celebrated a day of giving back. Each year, MLK day brings about new perspective, understanding, and awareness to situations we may too often lose sight of. We embrace this significant holiday as a reminder to do good not just on this special day, but in every moment that we see opportunity for positive change. In 2020, Milone & MacBroom volunteered at 15 locations. This was the twelfth-annual celebration organized by the MMI/SLR Community Outreach Team (COT) where employees could select from a number of community service projects based on their individual interests and philanthropic goals..
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PROFESSIONAL GROWTH & FINANCIAL OPPORTUNITIES 401K PLAN AND PROFIT SHARING The company’s retirement savings plan allows employees to make salary deferrals on a tax-deferred basis. For 2020, an employee can contribute pre-tax and/or after-tax Roth contributions up to 90% of your pay up to the IRS limits of $19,500. If you are age 50 or older you can also make a $6,500 “catch-up” contribution. Eligibility and Enrollment for Salary Deferrals and Profit Sharing & Match Contributions Eligibility and Enrollment Employees are eligible to make 401k contributions and receive Match contributions and Profit Sharing contributions to the 401k plan on the first day of the calendar month, coincident with or next following the date you attain age 18 and complete 312 hours within a 3 consecutive month period.
Vesting You are always fully (100%) vested in your 401k contributions, rollover contributions and qualified nonelective contributions. Any company contributions have a 5 year graded vesting schedule beginning at 20% after the completion of 1 year of service. The vested amount increases by 20% each year until you are 100% vested after the completion of 5 years of service. Education/Retirement Planning The company retains the services of a financial investment advisory consulting firm to assist you in understanding your plan benefits and the benefits of participating, along with investment education to help you make sound investment decisions.
Match Contributions The company matches, at its discretion, 100% of employee contributions, up to 4% of the employee’s annual earnings. The plan requires eligible employees to have an active employment status with the Company on the last day of the plan year (December 31) in order to be eligible to receive the match. The match is funded once per year, after the end of the plan year. Profit Sharing The company will also, at its discretion, consider periodic profit sharing through the plan. The amount contributed, if any, is determined by the Company. Similar to the match, any profit sharing requires an employee to be active with the Company on the last day of the plan year in order to be eligible. Automatic Enrollment If a deferral election is not made you will automatically be enrolled in the plan and set up to have 4% of your compensation contributed pre-tax in your plan account in a default investment option on the first day of the month after three months of service. Rollover Contribution Rollovers are permitted from your prior employer plans into this plan once you become eligible and are a participant.
We help you plan for your future! 8
PROFESSIONAL DEVELOPMENT
OTHER INTERNAL TRAINING OPPORTUNITIES INCLUDE:
A career at Milone & MacBroom offers opportunities for professional development and personal growth. Employees who seek opportunities for professional development will be reimbursed 100 % for the cost of continuing education and professional development activities applicable to their job with the company. A professional development request form must be completed and approved in advance. We support training and a wide range of professional advancement opportunities that include:
Lunch & Learn Seminar Series In-house lunchtime presentations and discussions are offered on a wide range of diverse topics for employee enjoyment and education. Topics can vary, but include presentations on technology, projects, product demonstrations, safety, volunteer opportunities, wellness, benefits, and financial. These are informal sessions that any staff member can attend.
Professional Exams The company will pay for time off for an employee to take an exam related to licensing or certification during normal working hours. Exams and preparatory courses will not be paid. Licenses, Registration & Certifications We encourage all employees to obtain their professional licensure and certified in their discipline. We will reimburse for professional license/certification application and renewal fees. Professional Association Membership Fees Employees are encouraged to join job-related professional associations and societies in their respective fields and to participate in association activities, particularly leadership positions, and are reimbursed for costs associated with membership fees and professional affiliations. Education and Training Employees will be reimbursed for certain education and training costs incurred by employees.
MMI University An in-house training program is offered to enhance the culture of education and collaboration across disciplines and develop knowledge and technical and business skills for all employees. All employees are encouraged to attend a minimum of two MMI University courses per year. Courses are typically scheduled at 8:00 am or 4:30 pm, length of course is one hour. Employees will be paid for their attendance and should record “professional development” on their timesheet.
TUITION REIMBURSEMENT Employees will be reimbursed up to 50% for tuition expenses for one course per semester with preapproval. Reimbursement will be for undergraduate and graduate level academic courses, programs leading to a professional certification in a specific job-related field of professional discipline, and costs of books and course-related materials. The employee must receive a passing grade of “B” or its equivalent or obtain a certification.
Mentoring Our mentoring program is a combination of both informal and formal approaches. Because most of the work is project based, professionals receive informal mentoring from their project managers during the course of a project. Since most entry level professionals work on more than one project simultaneously, they will receive mentoring from several project managers. Formal mentoring takes place with each new college graduate who is assigned a mentor to help them get adjusted to the culture and norms of the department or group. The mentor will make the new employee feel “at home” and familiarize them with processes and procedures they will need to know.
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CULTURE & LIFESTYLE SOCIAL EVENTS
We offer a fun and positive work environment! OPEN COMMUNICATION We offer a work environment that is conducive to open and honest communication. We hold employee quarterly meetings to share business updates for the past quarter, celebrate milestones, and the people who made them possible.
CELEBRATING SUCCESSES – EMPLOYEE RECOGNITION PROGRAM
Company Field Day A team building activity with loads of fun outdoor games, races and competitions, and the Pig Rig BBQ. Sports Events Softball & Bowling - During the winter months, we gather together in Cheshire, Connecticut for a night of bowling. During the spring and summer months, we have a softball team you can join and have an opportunity to play with other employees in your industry. Dragon Boat Race Join the team to race other corporate teams along the Connecticut River at the Riverfront Dragon Boat & Asian Festival during the month of August. Bring the whole family for a day of fun! Holiday Events Other Social & Networking events
At Milone & MacBroom, we are committed to ensuring our employees feel appreciated and recognized for their hard work, exceptional achievements, and contributions to the firm. We believe that when we acknowledge the value and commitment of our employees, they become better connected, engaged, and aligned.
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99 Realty Drive, Cheshire, CT 06410 | 203.271.1773 | www.MMInc.com CT | MA | ME | NH | NY | VT Milone & MacBroom
@miloneandmacbroom
@MiloneMacBroom
rev. June 30, 2020
@Milone_Macbroom