Page 22 - Ches User's Guide 2018 v1.4
P. 22


               Chesapeake provides the following company-paid disability benefits
               through Prudential:

               Short-Term Disability                               Long-Term Disability

               The short-term disability benefit is                When eligible, you will receive 60% of
               provided to you at no cost. There is a              base salary up to $20,000 per month;
               zero-day waiting period for injuries and            there is a 180-calendar-day waiting

               maternity leave, and a five-day waiting             period. You have two options for long-
               period for illness. If you are eligible you         term disability.
               will receive your first six weeks of                Taxable option (default)
               short-term disability protection at 100%            Chesapeake pays the entire premium,

               of your base salary. If your disability             which is not considered taxable income.
               exceeds six weeks you will receive                  If you become disabled and qualify for
               an additional 14 weeks of short-term                long-term disability, it will be treated as
               disability protection at 80% of your base           taxable income.

               salary and then six weeks at 60% of your
               base salary until transitioning to long-            Nontaxable option
               term disability (when eligible).                    Chesapeake makes the same
                                                                   contribution for the premium as for the
                                                                   taxable option.

                                                                   You make a small contribution to the

                                                                   premium. Chesapeake’s contribution is
                                                                   taxable income. If you become disabled
                                                                   and qualify for long-term disability, it will
                                                                   not be treated as taxable income.

               20    2018 ToTal RewaRds Guide
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