UMB offers benefits focused on increased quality of care, associate health, value, efficiency and reduced expenses to
provide care to associates and their eligible dependents. Associates who work 20 hours or more per week are eligible to
participate in these plans.
Medical
UMB offers three PPO medical plans
through CIGNA Healthcare. These
plans include coverage for innetwork and out-of network provider
services, and are available to
associates in all locations. All plans
include preventive care paid from
first dollar, pharmacy and
comprehensive medical coverage.
Base Qualified High Deductible Plan
(QHDP)
Participants may utilize a Health
Savings Account (HSA) and receive
HSA funding from UMB. Pays 80%
for covered services in-network and
50% out-of-network once the annual
deductible requirements have been
met.
Buy-Up Qualified High Deductible
Plan (QHDP)
Participants may utilize a Health
Savings Account (HSA) and receive
HSA funding from UMB. Pays 100%
for covered services in-network and
80% out-of-network once the annual
deductible requirements have been
met.
Traditional Plan
Participants may utilize a Flexible
Spending Account (FSA). Pays 80%
for covered services in-network and
60% out-of-network once the
deductible and co-pay requirements
have been met.
Dental
UMB offers four dental options
through Assurant Employee Benefits.
All four options include vision care
discounts through VSP.
Managed Care Plan
Uses a network of dental providers.
Dental services are paid at a reduced
fee or at no charge. Orthodontic care
and treatment from specialists are
also included at a discounted rate.
This plan is available in most
locations.
Choice Plus Dental PPO
Uses a national network of dental
providers. When using in-network
providers, you pay no deductible and
low or no co-pays for preventive
treatment. Crowns, inlays, onlays,
implants and orthodontia are some
of the other covered treatments.
Freedom Basic Plan
Associates may seek treatment from
any dentist or specialist. Depending
on the service, coverage varies from
80% – 100%. Services include
cleanings, x-rays, fillings and simple
extractions. Major dental services
are not covered. This plan is available
in all locations.
Freedom Advance Plan
Associates may seek treatment from
any dentist or specialist. In addition
to the services provided through the
Freedom Basic Plan, this plan covers
major services such as crowns,
dentures, root canals and major oral
surgeries. Coverage for major
services varies from 10%-50% based
on time enrolled. This plan is
available in all locations.
Vision
UHC Vision or VSP
Both UHC and VSP each have two
plan options (Base & Buy-Up) from
which to choose. All plans include
coverage for in-network and out-ofnetwork services.
Basic Plan (UHC & VSP)
After co-pay, eye exams and
prescription lenses or contacts are
covered every 12 months. Frames
are covered every 24 months.
Buy-Up Plan (UHC & VSP)
After co-pay, eye exams and
prescription lenses or contacts are
covered every 12 months. Frames
are covered every 12 months.
Flexible Spending Plan
The plan is available to pay medical,
dental and vision co-pays,
unreimbursed health care expenses
and dependent care expenses on a
pre-tax basis. Associates may
redirect a portion of earnings before
taxes into a Flexible Spending
Account (FSA) to pay for these
expenses.
Health Savings Accounts
Qualified High Deductible Plan
participants open a Health Savings
Account (HSA) and receive employer
HSA funding from UMB. They may
also choose to utilize a limited FSA
(for dental and vision) along with
their HSA.
Retirement Plans
401(k) Savings Plan
UMB offers all associates (including
part-time and temporary) the
opportunity to save for retirement
through the Profit Sharing & 401(k)
Savings Plan. Associates are eligible
on the first day of the month
following one month of employment.
The plan features are:
• Ability to contribute on a
pre-tax and/or after-tax
(Roth) basis
• Allows contributions of up to
50% of eligible earnings
(maximum subject to IRS
limits)
• Invest in a variety of mutual
funds or in UMB Financial
common stock
• Immediately 100% invested
in company matching
contributions
Associate Contributions
New associates are automatically
enrolled in the plan with a 3% pretax
contribution rate. Both contribution
rates and investment selections can
be changed at anytime.
due to accident or illness. Eligible
associates are automatically enrolled
in Short Term and Long Term
disability benefits on the first day of
the month following 6 months of
employment.
Long Term Care Insurance
Coverage options for associate,
spouse, parents, in-laws, siblings,
adult children, grandparents in a
variety of coverage levels. This policy
is also portable.
Company Match
At the end of each year, UMB may
make discretionary 401(k) matching
contributions. Currently, UMB
contributes 50 cents for each dollar
of the first 6% of salary that an
associate contributes to the plan.
Business Travel Accident Insurance
Associates are covered by insurance
if an accidental injury or fatality
happens while traveling on company
business.
Cancer Insurance
Provides benefits for cancer and over
29 other specified diseases. This
coverage pays benefits directly to the
participant, regardless of any
payments made by medical
insurance. Single or family options
are available. This policy is HSA
compatible and portable.
Profit Sharing Contributions
A percentage of UMB’s annual profits
may be contributed to the UMB
Profit Sharing & 401(k) Savings Plan
or to the Employee Stock Ownership
Plan (ESOP). Associates completing
one year of service become eligible
for this plan on the next January 1 or
July 1.
Employee Stock Ownership Plan
(ESOP)
ESOP is a special type of retirement
plan designed to invest in the
common stock of UMB Financial
Corporation. When UMB makes
profit sharing contributions to the
ESOP, associates not only share in
UMB’s profits, but also become
shareholders of UMB Financial
Corporation. As the value of UMB’s
stock increases, the value of the
account increases. ESOP has
semiannual entry dates following
one year of employment.
UMB Paid Insurance
Group Term Life and AD&D
Basic life coverage is equal to the
associate’s annual salary with a limit
of $250,000. Plus AD&D coverage
equal to associate’s annual salary up
to $250,000.
Disability Insurance
Provides a continuing income in the
event an associate is unable to work
Voluntary Insurance Benefits
UMB offers eligible associates a
variety of voluntary insurance
programs.
Supplemental Term Life Insurance
Associate coverage is available in
$10,000 increments to a maximum of
$300,000. Spousal coverage is up to
50% of the associate’s amount, and
three coverage options are available
for children.
Accidental Death & Dismemberment
Insurance
Provides coverage 24 hours a day, on
or off the job. Associate coverage is
available in $10,000 increments to a
maximum of $500,000. Options of
single or family coverage are
available.
Universal Life Insurance
Individual coverage may be
purchased on the associate, spouse
or children in amounts of $5,000 to
$150,000. Funds accumulate in the
policy at competitive interest rates.
This plan has a portability provision
which allows you to continue
coverage in the event you terminate
your employment with UMB.
Critical Illness Insurance
Provides benefits for an array of
conditions. Benefits paid directly to
the participant, regardless of any
payments made by medical
insurance. Single or family options
are available. This policy is HSA
compatible and portable.
Accident Insurance
Provides benefits for an array of
services due to accidents. Benefits
paid directly to the participant,
regardless of any payments made by
medical insurance. Single or family
options. This policy is HSA
compatible and portable.
Legal Insurance
Provides benefits for a wide variety
of legal services (wills, estate
planning, identity theft, traffic,
defense, etc.) utilizing both innetwork and out-of-network
providers at a low cost.
Pet Insurance
Provides various benefits options
including major medical and wellness
services for qualified pets. Pricing
varies based on species, age, and
state of residence. This policy is also
portable.
Employee Assistance Program
(EAP)
This benefit offers assistance for
personal issues through confidential
consultations with professionals
outside the UMB system and is
available to associates and their
families. This includes assistance for
financial, legal, marital, mental
health and workplace/professional
growth counseling issues. This
program also provides wellness
benefits and discount programs.
Additional Benefits
Transportation Assistance Program
(TAP)
UMB offers a variety of options to
assist associates with transportation
or parking costs in many locations.
Details are available from your
Organizational Effectiveness
representative.
Educational Assistance
Maximum reimbursement is $5,000
per year. Associates employed for six
months and working at least 20
hours a week may take advantage of
this benefit.
Organizational Effectiveness for
employment. UMB will pay
associates a referral bonus for those
applicants who are hired and remain
with the company for a given
duration.
Adoption Assistance Program
Eligible Associates may receive up to
$6,000 in financial assistance for
qualified adoption expenses.
Employee Direct Stock Purchase
Plan
Associates may purchase additional
UMB common stock at market prices
through payroll deduction or direct
payment. This program offers a
convenient opportunity to purchase
UMB Financial Corporation common
stock on an after-tax basis.
Paid Time Off Programs
Holidays
Most business units within UMB
observe the holiday schedule
recognized by the Federal Reserve
Bank. This traditionally includes 10
holidays:
Wellness & Health Management
We offer a wide variety of tools and
resources including on-site health
coaching.
New Year’s Day, Martin Luther King,
Jr. Day, Presidents’ Day, Memorial
Day, Independence Day, Labor Day,
Columbus Day, Veterans Day,
Thanksgiving Day, Christmas Day.
Employee Referral Bonus Program
Associates are encouraged to refer
qualified applicants to UMB
Some business units or departments
may observe an alternate holiday
schedule based on business needs.
Check with your manager to see if
this applies.
Paid Time Off (PTO)
PTO is designed to cover a variety of
needs including vacation, personal
days and any illness. Eligible
associates will begin accruing PTO on
January 1 of each year based on
years of service and organizational
levels. PTO is pro-rated in the first
year of employment based on hire
date.
Part-time associates who work a
regular schedule of at least 20 hours
per week will have their PTO time
prorated based on a 30-hour work
week.
UMB offers several other paid time
off programs including time off for
bereavement, jury duty,
volunteerism, and parental leave.
Bank Services
Qualified associates are entitled to
receive a number of UMB products
and services for free, or at
substantial savings!
• An interest-bearing checking
account with free checks and
no service charges
• Free money orders, cashier’s
checks and traveler’s checks
• Reduced rate on safe deposit
box rental
• Discount on consumer loan
rates
• Identity Protection plan
available
• Fees reduced on a UMB
Health Savings Account (HSA)
• UMB credit card
Disclaimer: This brochure is a summary of UMB’s associate benefits and is intended for informational purposes only. The
information contained in this brochure is subject to change at the discretion of UMB. While every effort was taken to
accurately report your benefits, discrepancies are always possible. In case of discrepancy between this benefit summary and
the plan documents, the plan documents will prevail.
10/17/13
10/17/13