Benefits for ColumbiaGrid Employees
Posted On: May 22, 2012
* ColumbiaGrid offers all employees Health/Vision/Dental/Rx insurance and covers nearly 100% of the premium for the employee. The Company will also fund over 80% of the additional premium required to add a spouse and/or dependent children.
* ColumbiaGrid provides its employees with life insurance equal to the employee’s annual salary (up to $100,000) at no cost to the employee.
* ColumbiaGrid provides both Short-term and Long-term Disability Insurance at no cost to the employee. Tax advantaged Flexible Spending Accounts (“cafeteria plan”) are available to reduce the impact of out-of-pocket health and dependent care costs.
* ColumbiaGrid provides a Retirement Plan to its employees. Under this 401(k) Plan, the employee determines how all contributions are invested, and they are placed into one or more funds open to us. All employees are eligible to participate in the Plan, and are fully vested immediately.
- Under the Plan, ColumbiaGrid employees may elect to contribute monthly through payroll deductions to their 401(k) Plan account.
- If such elections are made, ColumbiaGrid matches 75% of the first 6% of the employees’ monthly gross compensation.
- At the end of each calendar year, ColumbiaGrid also makes a non-elective contribution into each employee’s 401(k) Plan account. This contribution is calculated using the employee’s gross compensation for the year multiplied by 7.0%
- ColumbiaGrid works with its Third-Party Administrator, Heintzberger |Payne to ensure the Plan is in compliance with all Internal Revenue Service mandates. That company also provides financial investment advice to the employees. The total Plan balance is deposited with the Plan’s Custodian, Charles Schwab Trust Company.
* ColumbiaGrid offers Paid Time Off (PTO) / vacation from 20 to 32 days per year depending on length of service with the company; ColumbiaGrid may also elect to credit service years at prior places of employment for experience.
* ColumbiaGrid offers a flexible work schedule subject to supervisor approval. This may include working a series of nine (9) hour work-days to have every other Friday off.
Employee benefits are subject to change at any time under ColumbiaGrid’s discretion. For the most up-to-date benefits, please request a copy of the Summary Plan Documents.