2017
Employee Benefits
Highlight
Highlight of benefits available to all full-time regular employees
2017 Employee Benefits Highlight
Benefits Highlight
PW Power Systems, Inc.’s (PWPS) benefits program gives
employees and their families a number of options to
choose from when selecting benefits that best fit their
needs. Although the cost of these benefits is determined
by the type of plan(s) chosen, PWPS has been able to
maintain affordable contribution rates for employees.
Newly hired, full-time employees and dependents become
eligible for coverage on the first day of the month after
hire.
Dental Benefits
PWPS dental plans are designed to cover a portion of dental
expenses after an annual deductible has been met, if
applicable. Enrollment will become effective on the first of
the month after date of hire. Depending on where an
employee lives and the availability of physicians participating
with our insurance provider, employees will be able to
choose from Cigna’s dental HMO or PPO plans. Both plans
provide coverage for four classes of service: Preventive
(Class I), such as X-rays or cleanings; Basic Restorative
(Class II), such as fillings; Major Restorative (Class III), such
as crowns or casts; and Orthodontia (Class IV), such as
braces.
Medical Benefits
PWPS medical plans are designed to cover a substantial
portion of the expenses incurred for medical services such
as hospitalization, surgery, doctor visits, and ongoing
medical care and treatment. Enrollment will become
effective on the first of the month after date of hire.
Depending on where an employee lives and the availability
of physicians participating with our insurance provider,
employees will be able to choose from Cigna’s HMO, HRA
and OAP plans. Co-payments, deductibles and benefit
percentages for covered expenses vary by each plan.
Prescription medicines are covered under each plan according
to plan provisions (three-tier co-pay) and the medications
chosen. Cigna also offers a home delivery pharmacy program
(Tel-Drug) to help control the cost of prescriptions.
Vacation/Paid Leave Benefits
Medical Benefits Abroad
Cigna’s Medical Benefit Abroad program is designed to
give employees the peace of mind that their health needs
will be covered while traveling or abroad for business.
During an international assignment, employees will have
access to toll-free, telephonic global service centers
(available 24/7/365) and Cigna’s in-house team of
international doctors and nurses. This program is available
at no cost.
Short- and Long-Term Disability
The disability insurance plans provide a stable income
source to carry employees and their families through a
disability. In the event of a non-work-related accident or
any non-work-related debilitating event, a portion of their
salary will be continued for a period of time.
PWPS understands the importance of providing paid
time off to allow employees the opportunity to rest and
relax with family and friends. We want employees to
experience a good balance between work and personal
life by using this time to rejuvenate. With this in mind, we
offer a comprehensive package of authorized paid time
off that includes paid vacations, holidays, and short-term
absences to cover personal and sick time, bereavement,
and jury duty.
Benefits Highlight
Flexible Spending Accounts (FSAs)
PWPS offers both health care and dependent day care
flexible spending accounts. These benefits allow
employees to contribute a certain amount of their gross
income to a designated account(s) on a pre-tax basis. This
means employees will not pay taxes on the income they
use to pay for these benefits, thus potentially increasing
their take-home pay.
401(k) Retirement Plan
PWPS has established a 401(k) plan to help provide greater
financial security for employees and their families. Newly
hired benefits-eligible employees will be automatically
enrolled into the 401(k) plan at a 4% contribution rate after
one month of service. PWPS matches 125% of the first 4%
and 100% of the next 2% contributed into the plan each pay
period. Company matching contributions cumulatively apply
to the traditional and Roth 401(k) plans.
Employee Assistance Program (EAP)
Living a productive and fulfilling life requires a healthy mind
and body. The Employee Assistance Program through
Magellan, a confidential, third-party administrator, is
available for employees and their dependents should they
need assistance with managing the daily stresses of work,
home and family. This program is available at no cost.
Life Insurance and Accidental
Death & Dismemberment
PWPS provides basic group life insurance and accidental
death and dismemberment (AD&D) coverage to help
employees plan for the financial security of their family,
through Cigna, at no cost to the employee.
In addition to basic life and AD&D insurance, PWPS offers
optional life and AD&D plans. Employees may elect optional
spouse life, optional spouse AD&D and optional child life
coverage for their family. Optional life and AD&D premiums
are paid by employees.
Business Travel Accident
An employee traveling on business will be covered for ADD&
death at no additional cost to the employee.
Health Advocate
Health Advocate is designed to help employees handle
health care and insurance related issues by cutting through
the red tape and barriers that often create frustration and
problems. With Health Advocate, employees will have their
own personal health advocate, a registered nurse, supported
by a team of medical doctors and administrative experts, at
no cost.
Wellness
Tuition Reimbursement
PWPS recognizes the importance of supporting the
continual educational growth of our employees. The
Tuition Reimbursement program is designed to assist
employees with increasing their knowledge, skills and
abilities as they relate to their individual career path.
Tuition reimbursement is provided by PWPS for those who
would like to advance their formal education. The amount
of reimbursement employees receive is determined by
their academic performance.
Generate Wellness is a health management wellness
program sponsored by PWPS for employees and their
families. The program provides employees with a wide
range of resources to help make committed lifestyle
changes. On the web, over the phone, at work or home,
employees can use Generate Wellness tools, health
coaching and challenges to be your healthiest.
By creating an environment of support, PWPS
understands that making small, simple, healthier choices
each day can dramatically reduce an employee's risk of
developing serious medical conditions. Healthier choices
can also help those living with health issues improve their
conditions and quality of life.
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Benefits Highlight