Page 15 - 2020 Stein Mart Benefits
P. 15
DISABILITY INCOME INSURANCE
If you are unable to work due to a sickness or injury, Disability
Income Insurance can help you maintain your standard of living
by paying a portion of your income until you can get back on your
feet and return to work.
Stein Mart provides you with Disability Income Insurance,
which includes both Short Term / Pay Continuance and
Long Term Disability (LTD) Benefits at no cost to you.
Disability determinations are managed by Lincoln Financial.
Short Term / Pay Continuance Long Term
Benefit Features
Benefit Payout Full-pay for weeks accrued* 66.7% of salary
Benefit Maximum Full-pay for up to 13 weeks Up to $17,500 per month
When Benefit Begins 1st day of disability 91st day of disability
When Benefit Ends Once medically released, or Once medically released, or upon
on 90th day of disability reaching Social Security Retirement Age
* Short Term / Pay Continuance Accrual Schedule
Base Amount
Three weeks, provided upon hire
Additional
One additional week, for every year of service completed
Upon Returning to Work from a Disability Leave
If the three week base amount is used, it will be re-gained upon six consecutive months of active
employment following your return to work
One additional week, for every year of service completed following your return to work
How Pay Continuance Works
In the event you will be out for more than seven consecutive days, and are approved by Lincoln Financial, you will
be paid 100% of your normal pay, up to the amount of weeks you've accrued. Accrued weeks for pay continuation
are similar to regular vacation time; you have a balance, can only use what you have and your balance is reduced
by the weeks that are used.
If your disability is longer than the weeks you've accrued, you will have to take the remainder of your leave unpaid.
Family Medical Leave Act (FMLA) secures your position for up to 12 weeks, but you will not receive pay.
If your disability is shorter than the weeks you've accrued, you will not lose the unused weeks. Any accrued but
unused weeks will remain available for a future disability leave, and will be added to the weeks you re-accrued
upon your return.
Assistant Store Managers, Asset Protection and Loss 13
Prevention and Semi-Monthly Associates For 2020 Benefits
If you are unable to work due to a sickness or injury, Disability
Income Insurance can help you maintain your standard of living
by paying a portion of your income until you can get back on your
feet and return to work.
Stein Mart provides you with Disability Income Insurance,
which includes both Short Term / Pay Continuance and
Long Term Disability (LTD) Benefits at no cost to you.
Disability determinations are managed by Lincoln Financial.
Short Term / Pay Continuance Long Term
Benefit Features
Benefit Payout Full-pay for weeks accrued* 66.7% of salary
Benefit Maximum Full-pay for up to 13 weeks Up to $17,500 per month
When Benefit Begins 1st day of disability 91st day of disability
When Benefit Ends Once medically released, or Once medically released, or upon
on 90th day of disability reaching Social Security Retirement Age
* Short Term / Pay Continuance Accrual Schedule
Base Amount
Three weeks, provided upon hire
Additional
One additional week, for every year of service completed
Upon Returning to Work from a Disability Leave
If the three week base amount is used, it will be re-gained upon six consecutive months of active
employment following your return to work
One additional week, for every year of service completed following your return to work
How Pay Continuance Works
In the event you will be out for more than seven consecutive days, and are approved by Lincoln Financial, you will
be paid 100% of your normal pay, up to the amount of weeks you've accrued. Accrued weeks for pay continuation
are similar to regular vacation time; you have a balance, can only use what you have and your balance is reduced
by the weeks that are used.
If your disability is longer than the weeks you've accrued, you will have to take the remainder of your leave unpaid.
Family Medical Leave Act (FMLA) secures your position for up to 12 weeks, but you will not receive pay.
If your disability is shorter than the weeks you've accrued, you will not lose the unused weeks. Any accrued but
unused weeks will remain available for a future disability leave, and will be added to the weeks you re-accrued
upon your return.
Assistant Store Managers, Asset Protection and Loss 13
Prevention and Semi-Monthly Associates For 2020 Benefits
