| This summary is intended to be a brief description of some of the benefits offered by TAEC, and is subject to change. |
 |
| TAEC Summary Of Benefits |
| |
| |
 |
|
Medical Plan Options
Full time employees regularly scheduled to work 30 or more hours a week are eligible for health benefits effective on the date of hire. Toshiba America Electronic Components (TAEC) offers medical coverage through UnitedHealthcare.
PPO Choice Plus
No Primary Care Physician Direct access to specialists… out-of-pocket savings in-network… in- and out-of-network benefits available.
EPO Choice
Provides network coverage only…benefit levels typically higher.
|
 |
|
|
|
Prescription Drug Coverage
TAEC's prescription drug program is offered through UnitedHealthcare. Additional savings with mail order program. |
|
|
|
|
Vision Plan
TAEC offers vision benefits through Vision Service Plan (VSP). An eye exam and lenses (or contact lenses) are allowed every 12 months and frames every 24 months. Extent of coverage is dependent on whether a VSP provider or nonVSP provider is used. |
|
|
|
|
Dental Coverage
TAEC offers a dental plan through Delta Dental. The plan covers preventative, diagnostic, basic, major, and orthodontic services. |
|
|
|
|
Life Insurance
TAEC provides life insurance benefits equal to two times the employee's annual salary (maximum of $600,000) and AD&D (accidental death and dismemberment) benefits also equal to two times the employee's annual salary (maximum of $600,000). Supplemental and dependent life insurance is also offered as voluntary, employee paid benefit. |
|
|
|
|
Employee Assistance Program (EAP)
TAEC offers an Employee Assistance Program (EAP) through United Behavioral Health (UBH). This program provides confidential counseling and treatment benefits for mental health issues, substance abuse, work concerns, family conflicts, and legal and financial concerns. |
|
|
|
|
Short Term Disability (STD)
TAEC offers two employee paid short term disability plans which offer coverage for up to 13 weeks of disability. The basic plan pays 55% of current pay (subject to a maximum amount). The supplemental plan pays 60% of base pay (to a maximum of $2,000/wk). The basic plan is mandatory for California employees as it replaces California SDI. |
|
|
|
|
Paid Family Leave (PFL) (California employees only)
A California state mandated program that provides disability benefits for up to six weeks to employees who need to be off work to care for a family member or domestic partner who is ill, or to bond with a new child. The plan pays 55% of current pay (subject to a maximum amount). |
|
|
|
|
Long Term Disability (LTD)
TAEC pays for Long Term Disability coverage for eligible employees. LTD is an income protection benefit that starts after 90 days of disability. It provides a benefit of 60% of your monthly earnings to a maximum of $15,000 per month. |
|
|
|
|
Long Term Care (LTC)
TAEC offers voluntary Long Term Care insurance to eligible employees. LTC provides insurance for an employee or eligible family member in the future event that you/they would require Long Term Care, such as assisted living or a stay in a nursing home. |
|
|
|
|
Flexible Spending Accounts - Health Care and Dependent Care
TAEC offers a Flexible Spending Account which allows employee to set aside pre-tax funds, for out-of-pocket medical expenses such as co-payments, deductibles, etc. and/or health care for dependent children (under age 13) or any mentally or physically disabled dependent (regardless of age). |
|
|
|
|
Educational Assistance Program
TAEC supports the development of its employees by providing assistance in reaching their educational goals. Reimbursement is available to the maximum amount allowed by the IRS per calendar year. Job-related courses, certificate programs and degrees satisfactorily completed at an accredited institution are eligible. All active fulltime employees are eligible for consideration upon their date of hire. HR approval needed prior to starting classes. |
|
|
|
|
401(k) Savings Plan
TAEC offers a 401(k) Savings Plan to eligible employees. Any regular employee who has completed 30 days of service with Toshiba and attained age 21 may begin participating in the Plan on the first of the month after meeting eligibility. You are 100% vested after four years of continuous service. Participating employees are able to choose from several T. Rowe Price Mutual funds, ranging from conservative funds to aggressive growth funds. TAEC will match up to 3% of your contribution. Annual dollar contribution maximum is determined by the IRS. |
|
|
|
|
Retirement Plan
In addition to the 401(k) Savings Plan, TAEC contributes to a defined benefit "Cash Balance" pension plan. Employees are automatically participants in the Retirement Plan when they meet the requirements (at least age 21 and completed 365 days of service with TAEC). Company contributions are 4% of compensation up to the Social Security Wage Base and 8% of compensation above the Wage Base.
Effective 1/1/08, you are 100% vested after three years of continuous service. |
|
|
|
|
Holidays and Paid Time Off (PTO)
TAEC provides 13 paid holidays per year including a (paid) holiday shutdown from Dec 25-Jan 1. (Some departments may be required to work during the shutdown in which case alternate arrangements will be made.) Paid Time Off is accrued for each employee from the first day of hire according to the following schedule (based on regular, full time employment, accrued per pay period). |
| |
| Completed Years of Service | 1-5 Years | 6-10 Years | 11+ Years | | Paid Time Off Accrual per Year |
17 days | 20 days | 25 days | |
| Employees may accrue up to a maximum of two times the annual accrual rate. |
|
|
|
|
