Page 15 - Green Mountain Research Handbook Final 8-9-21
P. 15
Green Mountain Research Employee Handbook
The Company pays the full premium. These benefits will replace a portion of your income in the
event of death or disability.
In addition, GMR provides the ability for employees to increase their life insurance amount
through voluntary, employee paid benefits.
In the event of your death while covered under the life policies, your chosen beneficiary will
receive the death benefit. Contact Human Resources for a beneficiary designation form, which
we recommend employees review and update at least annually.
Human Resources will provide employees with a detailed summary explaining the benefits and
exclusions under these group policies.
GMR also provides retirement benefits, workers compensation coverage and unemployment
benefits to employees.
While it is our intention to continue to provide quality benefits for our employees, we reserve
the right to modify or discontinue the benefits at any time. This handbook provides a very
general overview of the benefits available to you. Should there be a discrepancy between the
language in the handbook and the official plan documents, the terms of the official plan
documents will govern the benefits.
Short Term Disability
Short Term Disability benefits pay employees 60% of their basic earnings up to a maximum of
$1500 per week for up to 12 weeks for a qualifying disability or pregnancy after a 7-day waiting
period. GMR pays 100 percent of the premium for this benefit.
Employees may be responsible for paying income taxes when these income replacement
benefits are received.
Long Term Disability
Long Term Disability benefits pay employees 60% of their basic earnings up to a maximum of
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$6,000 per month for a qualifying disability. Benefits begin after the 91 day of disability. To
receive benefits, you must be unable to perform the duties of any occupation; however, during
the first two years of disability, you must only be unable to perform the duties of your own
regular occupation.
Normally, benefits continue for the duration of your disability, up to your normal Social Security
retirement age. GMR pays 100 percent of the premium for this benefit; however, employees
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Revision Date: 08/01/2021
Origination Date: 08/01/2021
