Page 17 - Yaskawa 2022 Open Enrollment Guide
P. 17
2022 Benefits Guide
Disability
Yaskawa America, Inc. provides the following beneits at no cost to employees working 30 hours:
Short Term Disability Long Term Disability
Eligible Associates are provided Short Term Disability What would you do if your paychecks stopped?
coverage paid by Yaskawa America, Inc. To be If you are like most Americans, you insure your
provided paid short term disability you must be car, your home, and your health. What about your
absent from work ive (5) consecutive days as a salary? How long could you and your family go
result of illness or injury. The beneit is as follows: without a paycheck if you were to become disabled
and unable to work?
Maximum Maximum
Number of Number of
Length of Service
Hours at Full Hours at 60% Plan Highlights
Salary Salary ■ 60% income replacement to monthly maximum
3 mo. but less than 1 year 40 160 beneit of $10,000.
1 year but less than 2 80 960 ■ Starts paying a monthly beneit after 180 days
2 years but less than 4 120 920 of disability.
4 years but less than 5 160 880 ■ You are eligible to receive beneits up to your
5 years but less than 6 240 800 normal Social Security Retirement Age.
6 years but less than 7 280 760 ■ If you should pass away while receiving LTD
7 years but less than 8 320 720 payments, your survivor will receive a survivor
8 years but less than 9 360 680 beneit payment equaling three (3) months of
9 years but less than 10 400 640 your total monthly LTD beneit.
10 years but less than 11 520 520
For a detailed description of the beneit provisions
11 years but less than 12 600 440 and the limitations and exclusions, please see the
12 years but less than 13 680 360 summary plan description. Any questions can be
13 years but less than 14 760 280 directed to your Human Resources Department.
14 years but less than 15 840 200 Generally, you are considered disabled and eligible
15 years or more 1000 40 for long term beneits if, due to sickness, pregnancy,
or accidental injury, you are receiving appropriate
If an Associate has a service anniversary during a care and treatment and complying with the
period of disability that puts him or her into a higher requirements of the treatment and you are unable to
category, the increased beneit will be applied. earn more than 80% of your pre-disability earnings
at your own occupation for any employer in the local
economy.
The employer-paid premium for Long Term Disability
is considered as taxable income to Associates (Gross
Up). This will allow the Long Term Disability beneit
to not be considered taxable income if a claim is
paid out to an Associate during their time of need.
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Disability
Yaskawa America, Inc. provides the following beneits at no cost to employees working 30 hours:
Short Term Disability Long Term Disability
Eligible Associates are provided Short Term Disability What would you do if your paychecks stopped?
coverage paid by Yaskawa America, Inc. To be If you are like most Americans, you insure your
provided paid short term disability you must be car, your home, and your health. What about your
absent from work ive (5) consecutive days as a salary? How long could you and your family go
result of illness or injury. The beneit is as follows: without a paycheck if you were to become disabled
and unable to work?
Maximum Maximum
Number of Number of
Length of Service
Hours at Full Hours at 60% Plan Highlights
Salary Salary ■ 60% income replacement to monthly maximum
3 mo. but less than 1 year 40 160 beneit of $10,000.
1 year but less than 2 80 960 ■ Starts paying a monthly beneit after 180 days
2 years but less than 4 120 920 of disability.
4 years but less than 5 160 880 ■ You are eligible to receive beneits up to your
5 years but less than 6 240 800 normal Social Security Retirement Age.
6 years but less than 7 280 760 ■ If you should pass away while receiving LTD
7 years but less than 8 320 720 payments, your survivor will receive a survivor
8 years but less than 9 360 680 beneit payment equaling three (3) months of
9 years but less than 10 400 640 your total monthly LTD beneit.
10 years but less than 11 520 520
For a detailed description of the beneit provisions
11 years but less than 12 600 440 and the limitations and exclusions, please see the
12 years but less than 13 680 360 summary plan description. Any questions can be
13 years but less than 14 760 280 directed to your Human Resources Department.
14 years but less than 15 840 200 Generally, you are considered disabled and eligible
15 years or more 1000 40 for long term beneits if, due to sickness, pregnancy,
or accidental injury, you are receiving appropriate
If an Associate has a service anniversary during a care and treatment and complying with the
period of disability that puts him or her into a higher requirements of the treatment and you are unable to
category, the increased beneit will be applied. earn more than 80% of your pre-disability earnings
at your own occupation for any employer in the local
economy.
The employer-paid premium for Long Term Disability
is considered as taxable income to Associates (Gross
Up). This will allow the Long Term Disability beneit
to not be considered taxable income if a claim is
paid out to an Associate during their time of need.
17
