Health Welfare Benefits

Medical, Vision & Dental

The Company provides comprehensive health and dental insurance programs to its staff members and dependents. The insurance premiums are fully paid by the Company in most instances. However, an employee whose spouse is employed and who is eligible for insurance coverage from their employer will be required to contribute a portion of the cost of providing such coverage under the plans. Eligible dependents are also covered in full by the plan.

Life Insurance

The Company provides life insurance for all active employees. The policy coverage is two times your base annual salary up to a maximum of $800,000. Up to $400,000 is provided as "guaranteed issue." Accidental Death and Dismemberment insurance is also provided to each employee at two times your annual salary up to a maximum of $800,000.

Short and Long-term disability

Short-term disability provides for time off with pay when you are ill or have an injury that prevents you from working. The first three consecutive days you are away from work due to a non-work related illness or injury, including for a dependent child's illness or injury, are counted as sick days. Any group of one to three concurrent sick days is considered an "occurrence." The Company provides paid leave for up to six occurrences per year.

Beginning on the fourth consecutive workday of any occurrence due to an illness or injury, the absences are covered by STD. Short-term disability does not cover absences because of a dependent child's illness or injury.

After 180 calendar days of disability, the Company's long-term disability policy will provide benefits of 60 percent of salary up to the limited allowed by the policy, payable to age 65.

401k Plan

Employees are eligible to participate in the 401k plan beginning on their date of hire with the company. Each year, an employee may contribute up to the annual maximum contribution permitted by law, plus an annual "catch-up" contribution if age 50 or older during the calendar year. This plan is funded entirely by employee contributions. The contributions are made on a pre-tax basis from salary, and reduce taxable income for Federal and State tax purposes.

Money Purchase Pension Plan

The Company pension plan is a money purchase plan that is funded entirely by the Company. The amount of contribution each year for a participant is 10% of the participant's eligible compensation, plus 5.7% of their compensation above the Social Security wage base for the year. Participants are fully vested in the benefit earned in the plan up on completion of three years of service.


For the first calendar year of employment, the number of days of vacation to which employees are entitled is dependent on the date on which employment commences.  Each calendar year thereafter, employees will be entitled to the following number of days of vacation:

  Calendar Year Days
Staff   2nd - 5th 15 
  6th - 10th 20 
  11th - subsequent 25 
Vice Presidents 2nd - 10th  20 
  11th - subsequent  25 

First Calendar Year of Employment

  Calendar Year Days
Staff   January 1 - March 31 10 
  April 1 - July 31
  August 1 - December 31
Vice Presidents January 1 - March 31  15 
  April 1 - June 30  10 
  July 1 - September 30
  October 1 - December 31

Employees may be compensated for unused vacation in the last calendar year of employment according to the following schedule:

Staff and Corporate Officers January 1 - March 31 0%
  April 1 - June 30 50%
  July 1 - September 30 75%*
  October 1 - December 31 100%

* Rounded to the next highest half. 

Vacation may only be taken at a time to be agreed upon in advance with the employee’s direct supervisor and may be taken in half-day increments with advance supervisory approval. Vacation may not be approved or may be delayed, in the event of a significant loss of time due to operational requirements, tardiness or absenteeism. The Company believes that periodic vacations from work are a healthy and desirable part of everyone’s life. Therefore, it is Company policy to require that vacation time be used in the year in which it is earned, except that up to ten (10) unused vacation days may be carried forward into subsequent calendar years. In no event can unused vacation days carried over exceed the greater of twenty or the annual vacation entitlement. Upon termination of employment, employees will be compensated for any unused vacation days carried forward from previous years. If more vacation days have been taken during the last year of employment than the employee has earned or carried forward, the Company will make the appropriate salary adjustment in the last paycheck. 

Personal Days 

With advance supervisory approval, employees may take four personal days each year commencing in the calendar year following the first year of employment. They may be used in half-day increments at any time during the year, but may not be carried forward to any subsequent year. Employees will not be entitled to any payment for unused personal days during the last calendar year of employment. If possible, employees should give advance notice to their supervisors when they wish to take a personal day. 

Wellness Day 

Employees, other than members of Senior Management, who have not had a sick day over a six-month period, will be entitled to a Wellness Day. The six-month period runs from January 1 to June 30 and July 1 to December 31. The Wellness Day will be treated like a Personal Day, except that new employees do not have to wait until the calendar year following their year of hire to earn a Wellness Day. Days shall be used within a six-month period for the time for which they are earned.