Page 20 - Parsons and Parsons Corp ODD EE Guide 1 1 17_FINAL 11.1.16
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Benefits For Your Peace of Mind
COMMUTER BENEFITS
WageWorks | Commuter Benefit Plan
The Commuter Benefit Plan allows you to set aside a portion of your paycheck to pay for your eligible transit and/or parking
expenses. This money is deducted from your pay before taxes are deducted, which can save you between 30% and 40% off the
expense. For transit, you can choose to have your monthly pass or tickets mailed to your home or have funds added to your local
transit smartcard or the WageWorks transit debit card. For parking, you can choose Pay My Provider to schedule monthly direct
payments to your provider. Or, if your expenses vary from month to month or the provider only accepts cash, you may set up a Pay
Me Back claim for quick reimbursement. Visit www.wageworks.com or call (877) 924-3967 to enroll in the program.
DISABILITY INSURANCE
Unum | Short Term Disability
This is a company-paid benefit - Enrollment is not required
Parsons offers you Short Term Disability (STD) to provide income replacement if you become disabled due to accident, sickness or
pregnancy, through Unum. If you experience a temporary disability, benefits begin 8 days after the start of your disability and will
continue up to a maximum of 180 days. STD works with state disability programs, Social Security, and any other group disability
coverage, to provide you with a combined monthly benefit equal to 60% of your pre-disability earnings up to a maximum benefit of
$1,846 per week. Basic salary excludes overtime compensation, assignment or shift premiums, bonuses, and other additives to
base salary.
Unum | Long Term Disability
This is a voluntary benefit - Enrollment is required
Parsons offers you the opportunity to purchase Voluntary Long Term Disability (LTD) income replacement at discounted group
rates, through Unum. If you become totally and permanently disabled, benefits begin 180 days after the start of your illness or
injury and will continue as long as you remain disabled up to Social Security Normal Retirement Age. LTD works with state disability
programs, Social Security, and any other group disability coverage, to provide you with a combined monthly benefit equal to 60%
of your pre-disability earnings up to a maximum benefit of $8,000 per month. Basic salary excludes overtime compensation,
assignment or shift premiums, bonuses, and other additives to base salary. Refer to bswift for detailed plans available.
LIFE AND AD&D INSURANCE
MetLife | Basic Life
This is a company-paid benefit - Enrollment is not required
Life insurance protects your family or other beneficiaries in the event of your death while you are still actively employed with the
company. Parsons pays for coverage, offered through MetLife, in an amount equal to 100% of your annual base salary to a
maximum benefit of $250,000. Basic salary excludes overtime compensation, assignment or shift premiums, bonuses, and other
additives to base salary. Benefits are reduced at age 70 and beyond. An accelerated benefit option will pay up to 50% of the face
amount of the insurance up to specified maximums if you are diagnosed as terminally ill with less than 6 months to live. Benefits
paid in advance of death may be considered taxable as ordinary income. The IRS requires that the value of your company paid life
insurance in excess of $50,000 is treated as taxable income. This is called Imputed Income and will be shown on your paystubs and
reported on your form W2.
Cigna | Business Travel Accident
This is a company-paid benefit - Enrollment is not required
Parsons provides additional Life & Accidental Death & Dismemberment benefit for you while you are traveling worldwide on behalf
of the company.
If traveling on employer-authorized trip, you are protected by this program which pays the following benefits:
• Employee: 3 times your basic annual salary rounded up to the next highest $1,000 to a maximum benefit of $600,000
• Spouse or Domestic Partner (if approved to accompany eligible employees on company business): 50% of the employee
amount up to a maximum benefit of $150,000
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