Page 19 - Green Mountain Research Handbook Revised 12-27

Green Mountain Research Employee Handbook

In general, in order to purchase additional coverage beyond the Guarantee Issue, you must
answer health questions and be approved by the insurance provider. Additional coverage may

be applied for in units of $10,000 or $5,000 for employee or spouse coverage, respectively. The
maximum coverage you may apply for is $300,000 for employee coverage and $100,000 for
spouse coverage.

During each annual open enrollment, you may have the option to increase (but not purchase
new) coverage by up to $20,000 for employee coverage and up to $10,000 for spouse coverage
without answering medical questions.

The employee pays the full premium for this coverage under GMR’s voluntary group plan.
These are not individual policies. However, should you leave employment with GMR, inquire as
to whether it is possible to port, or continue the coverage by paying the premium directly based
upon the portable coverage rates at that time.

Retirement: 401(k)
One of the most important benefits available to you as an employee is the 401(k) retirement
plan. You will be eligible to participate immediately after hire and attaining age 21. You may
enroll or make changes to your account at any time.

Your 401(k) deductions are based on pre-tax dollars (tax deferred), thereby reducing your
current taxable income by the amount you contribute to the plan each year. You may
contribute any percentage of your earnings within a maximum limit set by the IRS. If you are
age 50 or older or will reach age 50 by the end of the calendar year, you can make an additional
contribution called a “catch up contribution.”

All eligible employees are entitled to a company match. GMR will match 100% up to 6% of
employee contributions. Your deductions and the company contribution are immediately 100%
vested. If GMR makes a discretionary contribution, it is vested incrementally.

It is imperative that you update your beneficiary form anytime you have a life changing event.
For more information on the 401(k) plan and its benefits, please contact GMR’s Human
Resources staff at 256-337-9444.

Unemployment Benefits
GMR pays into the state insurance system to provide unemployment benefits for our
employees. The actual benefits are determined by state law and claim determinations are
made by the state unemployment office.

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Revision Date: 12/09/2021
Origination Date: 12/09/2021