Page 14 - 2020 Stein Mart Benefits Guide - Weekly
P. 14
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.
You may enroll in Disability Income Insurance through
Lincoln Financial, which includes both Short Term
Disability (STD) and Long Term Disability (LTD) Benefits.
Short Term Long Term
Benefit Features
Benefit Payout 60% of hourly rate (based on 40 hours) 60% of hourly rate (based on 40 hours)
Benefit Maximum Up to $400 per week Up to $1,200 per month
When Benefit Begins 8th 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
Benefit Payout Weekly Payout Monthly Payout
Follow the steps Step 1 Step 1
to calculate each Multiply your hourly rate by 40: __________ Multiply your hourly rate by 2,080: _________
disability benefit Step 2 Step 2
payout. Multiply Step 1's answer by 0.60: ________ Divide Step 1's answer by 12: ____________
Step 3 Step 3
Compare result from Step 2 to $400. Divide Step 2's answer by 0.60: __________
Write the lower amount in the line: _______
Step 4
Compare result from Step 3 to $1,200.
Write the lower amount in the line: ________
Associate Weekly Rates
Short Term Disability Long Term Disability
Follow the steps to Step 1 Step 1
calculate your weekly Multiple your result from Compare result from Step 2
rate OR logon to Step 3 (above) by 0.0466: ______________ (above) to $2,000. Write the
www.myworkplace.net Step 2 lower amount in the line: ________________
to have the system Multiply Step 1's answer by 12: __________ Step 2
automatically calculate Multiple Step 1's answer by 0.00636: ______
your rate. Step 3
Divide Step 2's answer by 52: ___________ Step 3
Multiply Step 2's answer by 12: ___________
Step 4
Divide Step 3's answer by 52: ____________
Weekly Store and Weekly Corporate Associates 13
Department Merchandise Managers 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.
You may enroll in Disability Income Insurance through
Lincoln Financial, which includes both Short Term
Disability (STD) and Long Term Disability (LTD) Benefits.
Short Term Long Term
Benefit Features
Benefit Payout 60% of hourly rate (based on 40 hours) 60% of hourly rate (based on 40 hours)
Benefit Maximum Up to $400 per week Up to $1,200 per month
When Benefit Begins 8th 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
Benefit Payout Weekly Payout Monthly Payout
Follow the steps Step 1 Step 1
to calculate each Multiply your hourly rate by 40: __________ Multiply your hourly rate by 2,080: _________
disability benefit Step 2 Step 2
payout. Multiply Step 1's answer by 0.60: ________ Divide Step 1's answer by 12: ____________
Step 3 Step 3
Compare result from Step 2 to $400. Divide Step 2's answer by 0.60: __________
Write the lower amount in the line: _______
Step 4
Compare result from Step 3 to $1,200.
Write the lower amount in the line: ________
Associate Weekly Rates
Short Term Disability Long Term Disability
Follow the steps to Step 1 Step 1
calculate your weekly Multiple your result from Compare result from Step 2
rate OR logon to Step 3 (above) by 0.0466: ______________ (above) to $2,000. Write the
www.myworkplace.net Step 2 lower amount in the line: ________________
to have the system Multiply Step 1's answer by 12: __________ Step 2
automatically calculate Multiple Step 1's answer by 0.00636: ______
your rate. Step 3
Divide Step 2's answer by 52: ___________ Step 3
Multiply Step 2's answer by 12: ___________
Step 4
Divide Step 3's answer by 52: ____________
Weekly Store and Weekly Corporate Associates 13
Department Merchandise Managers For 2020 Benefits
