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Employee Benefits
Fringe Benefits Highlights
Insurance
Health Blue Cross Blue Shield/Health Savings Account (HSA) Plan This is a high deductible plan which is offset by a health savings account for the same amount. MC&E pays a large portion of the monthly premium, employee pays the rest (amount changes with premium from year to year). MC&E is funding the HSA for 2007 ($1,250 for single and $2,500 for family).
Dental - Midwestern Dental Plans, Inc. or Securian Dental - 100% Employee paid
Short Term and Long Term Disability - Provided at Firm expense. Short-term disability provides approximately 60% of regular pay (caps at $600 for staff below Manager and $1,000 for Managers and above) and starts on the first day of an accident or the 8th day of an illness and continues for 13 weeks. Long term provides approximately 60% of salary after 90 days of disability.
Life Insurance - $25,000 to $50,000 policy depending on your employment level. Provided at Firm expense.
Long Term Care Insurance Employee paid plan to provide nursing home care. Management level employees or employees with 10 years receive employer paid coverage for $3,500/month for 3 years.
Flexible Benefit Plan
Medical Expenses - Allows eligible employees to bank their pre-tax salary up to $5,000 per year. This money can be withdrawn for qualified medical expenses with no taxes due or withheld. Participants in the BCBSM/HSA plan are limited to vision and dental expenses.
Dependent Care - Allows eligible employees to bank their pre-tax salary up to $5,000 per year. This money can be withdrawn for qualified childcare expenses with no taxes due or withheld.
Health Savings Account (HSA) Employees may deposit their pre-tax salary up to the Federal limit (less MC&Es contribution) in an approved financial institution. This money can be withdrawn for qualified medical, dental or eye care.
Health/Dental Insurance Premiums MC&E Premiums may be deducted pre-tax through the Flexible Benefit Plan
Paid Time Off
Vacation - Vacation is a benefit earned in twenty-six (hourly payroll) or twenty-four (salary payroll) increments based on the number of pay periods. The balances will be posted on your pay stub. Time posted is available for immediate use. However, vacations generally
are not approved during tax season. 1-5 years of service = up to 10 days annually, Managers = up to 15 days annually.
Personal Time Staff below the level of manager are advanced 16 hours at the beginning of each quarter to be used for sick/personal purposes.
Paid Holidays - New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the Friday after Thanksgiving and Christmas Day.
Excused Time Excused time is allowed to sit for the CPA Exam (limited to 48 hours). It may also be used for Jury Duty or as allowed by the Firm for company functions. Excused time is also given for up to three days for the death of an immediate family member and one day for the death of a grandparent.
401(k) Retirement Plan - Merrill Lynch provides administration of the investments. Participation in the plan will start at the beginning of the first full month of employment at a rate of 3% of your salary, unless opted out when prompted by Merrill Lynch. Employee contributions are 100% vested and may be made before or after taxes.
Employees qualify for enrollment in MC&Es Profit Sharing after one full year of employment, in which a minimum of 1000 hours is worked. Enrollment is twice a year on July 01 or January 01. Eligible employees receive an annual discretionary deposit from the Firm, subject to vesting.
Electronic/Direct Deposit of Paycheck - Pay date is bi-weekly on Friday for staff below Manager. Managers, Senior Managers and Principals are paid twice a month on the 15th and the last working day of the month.
Expense Reimbursement - Mileage, per diem and lodging provided for out of the area client or professional development assignments.
Electronic/Direct Deposit of Expense Reimbursement - Expense Reimbursements may be directly deposited into one bank account.
Professional Development Firm provides Continuing Professional Education (CPE) Hours.
Comerica Bank Direct deposit paycheck into a newly opened checking account, bank will give employee $50.00.
Auto Body Credit Union - As a Selected Employer Group, MC&E employees are eligible to join the Credit Union.
Company Sponsored Employee Functions Annual events for employees include a tax party, golf outing, summer family outing, Halloween trick or treat through the office and a Holiday Party. Additionally birthdays are recognized monthly with cake and ice cream and during tax season dinner is provided once a week.
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