Page 9 - KCC Benefits Book NEW 2020

401K
COMPANY MATCH
HEALTH DENTAL&
INSURANCE
available
LIFE & DISABILITY
LIFE INSURANCE/LONG-TERM DISABILITY After six (6) months of employment, all full-time employees will receive a minimum $30,000.00 Term Life Insurance Policy and $30,000.00 Accidental Death and Dismemberment Insurance Policy. The Company pays 100% of the premium. Employees may also apply for additional life insurance coverage. The additional premiums will be paid through payroll deductions. Other insurance, such as Acci- dent/Disability may be available through withholding. Additionally, upon eligibility, all full-time employees receive long-term disability insurance coverage
in the amount of $1,250/month. Additional optional coverage may be purchased by the employee.
401K RETIREMENT PLAN
The Company provides a Defined Contribution 401(K) Plan for employees. Partici-
pating employees must be eighteen (18) years of age. New employees become eligible on the first day of each quarter following five (5) months of employment. At the Company’s discretion, KCC may match a certain percentage of the employ- ee’s contribution into the plan. Employees are fully vested after participating in the Plan for three (3) years.
HEALTH & DENTAL INSURANCE
Group health insurance and dental insurance are available to employees on the first day of the month after thirty (30) days of full-time employment. The Company contributes towards the cost of the insurance. A Cafeteria Plan is available to provide a tax-free deferral of the employee share of insurance.
INSURANCE
EMPLOYEE
EMPLOYEE ASSISTANCE PROGRAM
It is a policy of the Company to offer, through a third party EAP, assistance to employees who have any personal problem that impairs their work attendance or work performance. This program provides employees with assistance with personal problems through initial assessment and short-term counseling by our EAP provider. These services are also available to immediate family members, since a troubled family member may also affect an employee’s well-being and performance.
FLEXIBLE SPENDING PLAN
Flexible Spending Accounts provide full-time employees with the opportunity to pay for unreimbursed medical, dental and dependent childcare expenses from pre-tax earnings. New employees become eligible on the first day of the year following ninety (90) days of employment. Furthermore, the Company encourages employees to open a Health Savings Account to be used in conjunction with one of the HSA qualified insurance plans.
ASSISTANCE
PROGRAM
F$LEXIBLE
SPENDING PLANS
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