Page 68 - Mission updated and revised Employee Handbook (00022854).DOCX
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Group Term Life/AD&D: Mission provides each eligible employee with a group term life
insurance of two (2) times his/her base salary, not to exceed $500,000 maximum coverage. Please
refer to the Plan Document for details.
Supplemental Life/Accidental Death & Dismemberment (“AD&D”): Eligible employees who
wish to supplement Mission group life insurance benefits may purchase additional coverage for
themselves and their dependents. Please refer to the Plan Document for details.
LifeLock: Eligible employees are offered an optional benefit which protects, alerts, and resolves
identification theft issues. Please refer to the Plan Document for details.
Flexible Spending Accounts (“FSAs”): Eligible employees are able to save money on health care
and/or dependent care expenses with an FSA. Eligible employees are allowed to set aside funds
each pay period on a pre-tax basis and use them tax-free for qualified expenses. No federal income
or social security taxes are deducted on contributions to an FSA. Please refer to the Plan
Document for details.
401(k) PLAN
Mission offers a 401(k) defined contribution plan for its eligible employees. Employees are
eligible to participate on the first day of employment with an automatic enrollment unless
employees decline participation within thirty (30) days.
Under the terms of the Mission Retirement Savings Plan, eligible participants have the ability to
contribute up to the maximum amount allowed by the U.S. Internal Revenue Service (“IRS”). In
addition, Mission may make a discretionary matching contribution based upon the employee’s
contribution. Any discretionary matching contribution will be communicated to participants. The
information provided here is a summary of the terms of the plan. The actual benefits are subject to
and are governed by the terms and conditions of the official plan document. In the event of an
inconsistency, the formal plan document governs. Mission reserves the right to amend, modify or
terminate the plans at any time. For further information, please refer to the Summary Plan
Document (SPD).
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