Smith & Loveless Full-Time Non-Union Employee Benefits

Smith & Loveless offers a a friendly environment, interesting work, career development, and products that improve the world we live in.  Additionally, we offer these key benefits.

401(K) Plan

Employees are eligible to join on the first day of the quarter after 31 days of employment.  Participants direct how their funds are invested, choosing between more than a dozen mutual funds including a Roth option. Secure Internet access is available to make investment changes and monitor progress.

401(K) Profit Sharing Match

The first 6% of Participant's contributions are eligible for an annual discretionary Profit Sharing Match. The Company Match is 100% vested after one year of employment.

Holidays

Ten paid holidays per year.  Holidays observed:  New Year’s Day, President’s Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, Day after Thanksgiving, Christmas Eve, and Christmas Day.  Effective immediately.

Vacation

Two weeks of vacation after one year of employment, three weeks after five years, and four weeks after fifteen years.  Vacation is earned and accrued on the service anniversary each year, but may be taken after January 1st.

Personal/Sick Days

Smith & Loveless provides paid time off from work for unexpected absences and for personal items that must be handled during regular business hours. Six days (48 hours) per calendar year are available with the first year being prorated.  Effective the first of the month after 31 days of continuous employment.

Short-term Disability

Salary continuation for non-work related illness or injury is provided by Smith & Loveless. Benefits are determined by length of service.  Effective the first of the month after 4 months of continuous employment.

Long-term Disability (LTD)

LTD insurance is provided by Smith & Loveless and pays up to 60% of base salary following 180 days of disability.  Effective the first of the month after 4 months of continuous employment.

Life Insurance

Smith & Loveless provides each employee a policy equal to one times annual salary (rounded up to next higher thousand). The benefit Is subject to an age reduction schedule. Maximum $500,000. Effective the first of the month after 4 months of continuous employment.

Additional Life Insurance

Employees may elect an additional five times annual salary (rounded up to the next higher thousand).  Maximum $500,000.  Cost is based on salary and age.  Effective the first of the month after 4 months of continuous employment.

Dependent Life Insurance

$6,000 life insurance policies are available for a spouse and dependent children over 6 months old.  Cost is $2.00 per month.  Additional coverage for a spouse is available, based on age to a combined maximum of $15,000.  Effective the first of the month after 4 months of continuous employment.

Accidental Death & Dismemberment

The basic AD&D benefit is $31,000.  Optional AD&D is available in $10,000 increments up to $500,000. Subject to a cap of 10 times annual salary for amounts over $250,000. Cost is based on age and election. Eligible the first of the month after four months of continuous employement.

Health Insurance - Coventry Health Insurance

Two plans available to choose from:

HMO

Generally 100% of in-network charges are paid after the co-pay. Doctor/specialist co-pay is $20/40, various other services have different co-pays. Prescription co-pays are $12/35/60 and mail order service is available.  See Human Resources for more information. Employee contributions are based on salary and election.  Effective the first of the month after 4 months of continuous employment.

PPO

In-network benefits are 10% co-insurance following a $500 deductible per person with a maximum of $1,000 per family. Doctor/specialist visits are paid at 100% following a co-pay of $15/30. Prescription co-pays are $12/35/60 and mail order service is available.  Out-of-Network benefits are available at different rates.  See Human Resources for more information. Employee contributions are based on salary and election.  Effective the first of the month after 4 months of continuous employment.

Dental Insurance

$50 deductible with $1,000 limit.  Preventative maintenance is covered at 100% twice a year for reasonable and customary charges.  See Human Resources for coverage on other services.  Employee contributions are based on election.  Effective the first of the month after one year of employment.

Flexible Spending Plan

Participation may be selected for pre-tax treatment of employee insurance contributions, dependent care expenses, and/or unreimbursed medical expenses.  Plan limits may vary annually.  Effective the first of the month after 31 days of continuous employment.