Page 13 - Tessenderlo Kerley, Inc 2022 Benefit Guide

DISABILITY INSURANCE - NEW BENEFIT FOR 2022

Disability insurance through The Hartford provides income replacement Voluntary Short-Term Disability
should you become disabled and unable to work due to a non-work-related Employee Age Rates per $10 of Monthly Benefit
illness or injury.
Under 25 $0.16
Short-term disability (STD) can protect part of your paycheck should you 25-29 $0.17
become disabled. As a full-time active employee of Tessenderlo Kerley, 30-34 $0.25
you can choose to purchase Voluntary STD coverage.
35-39 $0.20
Coverage Benefit
40-44 $0.18
Voluntary • 50% of your base salary, up to a weekly maximum of $1,500 after 45-49 $0.25
Short-Term a 14 day elimination period (non-occupational only). The weekly
Disability benefit pays up to 11 weeks. 50-54 $0.32
• Benefits will coordinate with any state disability benefits available.
55-59 $0.29
*15% participation is required in order to offer this benefit; if this requirement is not met,
Tessenderlo Kerley will notify employees. 60-64 $0.36
Tessenderlo Kerley provides long-term disability (LTD) coverage at no cost 65+ $0.37
to you as shown below.
1. Monthly Premium = Calculation Rate * Monthly Benefit Rate

Coverage Benefit 2. Divide monthly salary by 10 (this will give you the Calculation Rate):
Long-Term • 60% of your base salary, to a maximum of $8,000 per month if 3. Multiply the Calculation Rate by the Monthly Benefit Rate in the
Disability you are disabled and are unable to work for more than 180 days. applicable age bracket in the chart above to find your Monthly Premium.
• Benefits are offset with other sources of income, such as Social
Security and Workers’ Compensation. Example:

÷ 52 = × 50%= ÷ 10 =

Your Annual Your Weekly Weekly Benefit
Earnings Earnings Max = $1,500

× =
Rate Premium Amount

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