| Advanced Building Concepts
(ABC) offers a variety of benefits to
its regular, full-time employees, benefits
are effective after completing a ninety-day
orientation period. There are many benefits
and advantages to becoming part of the ABC
team, several of the benefits offered to ABC
employees are listed below. |
| HEALTH INSURANCE |
| The Company offers United Healthcare
Choice Plus with an HRA plan. The plan covers
virtually all medical services and hospitalizations
with no Co-pay in network. The company shares
the burden of the costs to keep costs minimal
to the employee. Our 3 tier prescription plan
has varying deductibles, regardless of where
the costs are incurred. The medical plan is
four-tiered, allowing employees to tailor
the coverage to their family situation. |
| DENTAL INSURANCE |
| The Company offers Blue Cross
Dental for either individuals or families
with either basic or upgraded coverage. Here
again, the employee can tailor the coverage
to meet their family situation. |
| PAID TIME OFF |
ABC provides the following
compensated absences:
Vacations – All full-time regular
employees earn vacation, exempt employees
at the rate of two weeks per year after
one year of service and non-exempt employees
at the rate of one week per year after two
years of service. Both categories of employees
earn additional vacation with increased
time of service.
Sick Time – All full-time regular
employees begin accruing sick time at the
rate of two days per year after one year
of service and one week per year, after
two years of service.
Holidays – All full-time employees
are compensated for major holidays.
Bereavement Leave – All full-time
regular employees are allowed up to two
days of compensated leave for the death
of immediate family members. |
| 401(k) SALARY DEFERRAL
PLAN |
| The Company offers its 401(k)
retirement plan through John Hancock Pensions.
Employees may defer up to 20% of their income,
before income taxes, into a host of mutual
fund options. Actual amounts allowable are
set by IRS regulations. Employees become eligible
for participation in the plan on the first
day of the calendar quarter after completing
one year of service. All investments are employee
directed and transfers among investment vehicles
may be made daily using the internet. All
income is allowed to accumulate tax free until
withdrawn. Loans are permitted from the plan
and emergency withdrawals may be made under
certain limited conditions. All salary deferrals
are remitted to the plan on a weekly basis.
Upon registration into the Employee deferral
program all employees will automatically be
set up for a 3% minimum deferral. This promotes
saving through all the ranks. All employees
have the eligibility to withdraw from the
Automatic Deferral Program. |
| PROFIT-SHARING PLAN
|
| ABC offers a discretionary
profit-sharing plan to all employees eligible
to participate in the salary deferral plan.
The company allocates a portion of its profits,
based on a sliding scale, to the plan. The
funds are shared among various groups in a
pre-determined proportion and then distributed
to the accounts of the members of each group
based on eligible compensation for the year.
Each employee’s contribution is invested
in accordance with the employee’s selections
for his/her salary deferrals. For employees
who have chosen not to defer a portion of
their salary, investments are made to a money
market fund and may be redistributed to any
available funds, as the employee desires.
|
| OTHER INSURANCE |
ABC makes the following
insurance products available to employees,
through Aflac:
- Life insurance, both whole life and
term coverage;
- Short-term disability;
- Long-term disability;
- Cancer insurance.
|
| MANDATED BENEFITS
|
The Company provides the
following statutory programs:
- Workers’ Compensation Insurance
to cover employees injured while in the
performance of their duties;
- Unemployment Insurance to cover employees
in the event of temporary or permanent
loss of gainful employment;
- Temporary Disability Insurance, to
provide income in the event of temporary
loss of gainful employment due to non
job-related injury or illness;
- Family Medical Leave to allow time
off without pay to have or adopt a child
or to care for a seriously ill family
member.
|
