Summary of Employee Benefits Health Insurance/Dental/Vision 90% of the employee premium for health insurance coverage paid by organization with choice of several plans; 50% of premium for eligible spouses and/or dependents; Capital Health Plan HMO Coverage begins on the first of the month following employment. Blue Cross/Blue Shield plan begin first of the month following 90 days of service; the LSCU Service Corporation will pay for temporary major medical insurance to cover the gap in coverage, up to $400 per month for three calendar months. Life Insurance Administered through CUNA Mutual; Coverage provided is 4 times annual salary, to a maximum of $350,000; Life insurance coverage is available for spouses and/or dependents; Coverage begins on the first of the month following completion of the 90-day waiting period. Long-Term Disability Administered through CUNA Mutual; Elimination Period for Benefits: 90 Days; Percentage of Salary: 70%; Coverage is not available for spouses and/or dependents; Coverage begins on the first of the month following completion of 90-day waiting period. Accidental Death & Dismemberment Insurance Up to $150,000 insurance coverage is available through Johnson Insurance; $50,000 is paid by the League; Coverage for eligible spouses and/or dependents or additional coverage for the employee is available at cost. Additional Insurance Options Short-term disability, term life insurance, whole life insurance, and critical illness coverage are available; employees pay the associated premiums on a post-tax basis. Flexible Spending Account: Medical Care & Dependent Care Reimbursement Employee paid insurance premiums are deducted pre-tax. Expenses are deducted pre-tax and reimbursed upon submission of receipt; limit of $3,000 per year. Reimbursement is available via Direct Deposit or “Benny Card.” Paid Time Off Paid Time Off is available; accrual is dependent on length of service as follows: Years of Service 0 -2 years 2 – 7 years 7+ years
Number of Days 16 (128 hours) 21 (168 hours) 26 (208 hours)
Accrual in Hours/ Payroll 4.92 6.46 8.00
Reserve Sick Bank Unused PTO can be saved for major illness; deposits made on an annual basis. Holidays Regular full-time employees shall be granted ten (10) paid holidays. Currently, most LSCU departments observe all Federal Holidays except Presidents’ Day and Columbus Day, plus the day after Thanksgiving and an extra day at Christmas. Tuition Reimbursement Full-time employees with one year of service can receive reimbursement for tuition and books for approved courses of study. Employee Savings Plans Payroll Deduction Plan for an Individual Retirement Account (IRA) and/or U.S. Savings Bonds purchase. Employee Assistance Program Free counseling service for employees and their families is provided. This confidential service is available for those with problems related to stress, parenting, drug and alcohol abuse, or divorce matters. Consumer Credit Counseling Service CCCS is a non-profit organization that provides discounted financial counseling for families and individuals with serious debt problems. Travel and Entertainment Discounts Money saving discounts are offered to all employees. Adoption Assistance Those who adopt a child through a state-approved agency may be reimbursed up to $500 for associated fees. 401(k) Retirement Plan A 401(k) plan was implemented effective May 1, 1995. Employer match is 100% of the first 5% of gross compensation, excluding fringes and reimbursements. Profit share of 5% up to maximum allowed by IRS, excluding fringes and reimbursements. Participation begins first day of the quarter following hire. Previous credit union movement service will count towards vesting, looking back five years from date of hire; other stipulations apply. This summary of benefits is accurate as of December 2011 and is subject to change at any time.