Page 27 - 2015 ASARCO Enrollment Guide
P. 27
ASARCO
Pension Information Pension,
Retirement Benefit Plan for Eligible Employees Tuition,
The Retirement Beneit Plan for Salaried Employees of ASARCO LLC Bereavement
is intended to provide eligible employees (participants in the Retirement
Plan prior to April 30, 2011) and their beneiciaries with an income for For more information on
life upon retirement. It is designed to be part of employees’ inancial these benefits, please visit
security at retirement along with Social Security, 401(k) savings, and the ASARCO Intranet for
other personal income. guidelines.
The Retirement Beneit Plan for Salaried Employees of ASARCO LLC
was frozen as of April 30, 2011. If you have completed your irst year
waiting period prior to April 30, 2011, you are a participant in the plan.
Effective April 30, 2011, accrued beneits were frozen for all active
Plan participants and no future credited service or compensation will
impact the accrued beneit. If you were a participant, credited services
after April 30, 2011 will be considered for purposes of vesting and in
determining eligibility for early retirement beneits under the Plan. To
be vested means you have a right to receive Retirement Plan beneits.
You become 100% vested in your accrued Plan beneit once you have
completed ive years of credited services with the Company or upon
reaching age 65 while employed by ASARCO.
Tuition Reimbursement
ASARCO covers up to a maximum of $5,250 in a calendar year
in educational assistance for courses related to employee’s present
position or per a developmental plan. Courses must be taken at an
accredited institution which is acceptable to ASARCO. Employees who
have completed more than 12 months of continuous employment are
eligible. Please see the Tuition Reimbursement Policy located on the
ASARCO Intranet for guidelines.
Bereavement Policy
All employees will receive up to 40 hours paid time off in the event
of the death of an immediate family member, deined as, their spouse,
domestic partner, child/stepchild, siblings, parents, grandparents, or
in-laws. Employees may request approval for additional time off to
be charged against PTO. See Pay Policy on the ASARCO Intranet for
guidelines. 27
Pension Information Pension,
Retirement Benefit Plan for Eligible Employees Tuition,
The Retirement Beneit Plan for Salaried Employees of ASARCO LLC Bereavement
is intended to provide eligible employees (participants in the Retirement
Plan prior to April 30, 2011) and their beneiciaries with an income for For more information on
life upon retirement. It is designed to be part of employees’ inancial these benefits, please visit
security at retirement along with Social Security, 401(k) savings, and the ASARCO Intranet for
other personal income. guidelines.
The Retirement Beneit Plan for Salaried Employees of ASARCO LLC
was frozen as of April 30, 2011. If you have completed your irst year
waiting period prior to April 30, 2011, you are a participant in the plan.
Effective April 30, 2011, accrued beneits were frozen for all active
Plan participants and no future credited service or compensation will
impact the accrued beneit. If you were a participant, credited services
after April 30, 2011 will be considered for purposes of vesting and in
determining eligibility for early retirement beneits under the Plan. To
be vested means you have a right to receive Retirement Plan beneits.
You become 100% vested in your accrued Plan beneit once you have
completed ive years of credited services with the Company or upon
reaching age 65 while employed by ASARCO.
Tuition Reimbursement
ASARCO covers up to a maximum of $5,250 in a calendar year
in educational assistance for courses related to employee’s present
position or per a developmental plan. Courses must be taken at an
accredited institution which is acceptable to ASARCO. Employees who
have completed more than 12 months of continuous employment are
eligible. Please see the Tuition Reimbursement Policy located on the
ASARCO Intranet for guidelines.
Bereavement Policy
All employees will receive up to 40 hours paid time off in the event
of the death of an immediate family member, deined as, their spouse,
domestic partner, child/stepchild, siblings, parents, grandparents, or
in-laws. Employees may request approval for additional time off to
be charged against PTO. See Pay Policy on the ASARCO Intranet for
guidelines. 27
