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Mykotronx Employee BenefitsScopeSafeNet Mykotronx employee benefits encompass:
Benefits EligibilityTo be eligible for most SafeNet Mykotronx benefits programs, you must work at least 30 hours per week in a regularly scheduled position. Exceptions to this include: government mandated plans, such as social security, workers’ compensation, unemployment insurance and our company’s 401(k) Plan, which has specific eligibility requirements. For some benefits, such as paid time off (vacation time, etc), there are additional eligibility criteria to meet. Some of our insurance programs also require evidence of insurability for coverage to be effective. For health insurance, you are eligible to apply at time of hire or at open enrollment for coverage the following plan year. For new hires that opt for health insurance, coverage is effective on the first day of the month following employment. Should you begin employment on the first day of the month, your coverage will become effective that day. Medical InsuranceSafeNet Mykotronx’ BCBS PPO medical plan allows you to see the provider of your choice, whether in- or out-of-network, each time you seek medical care. Keep in mind, however, that you will maximize your benefits if you use a PPO Preferred Provider, rather than a Non-PPO or Non-Participating Provider. You may elect health insurance for either yourself or for you and your dependents. Through this program, you may have coverage for the following:
Prescription CoverageIf you elect medical coverage, you are automatically enrolled in the Prescription Program. It offers you in-network benefits, mail order pharmacy and an out-of-network pharmacy option. Dental Insurance SafeNet Mykotronx offers a dental program that emphasizes preventative
care. You will also receive coverage for restorative, prosthetic and
orthodontic treatment. Under this dental plan you may choose either
a dentist in or out of network and receive the same level of coverage.
However, if you use an in network dentist you will not be subject to
balance billing. Basic Life and AD&D Insurance If you are a benefit eligible employee with SafeNet Mykotronx we will
provide you with basic group life insurance equal to one times your
annual earnings up to a maximum of $500,000 (minimum of $50,000) and
an equivalent amount of accidental death and dismemberment insurance
at no cost to you. Short-Term Disability SafeNet Mykotronx employees are eligible for Short Term Disability
insurance on the same day your regular benefits begin. Short Term Disability
insurance provides you income protection should you be unable to work
for a period of time of up to 180 days. This benefit is fully paid for
by SafeNet Mykotronx. Long-Term Disability Long Term Disability Insurance provides you income protection in the
event of an extended illness or injury. This benefit is fully paid for
by SafeNet Mykotronx. Flexible Spending AccountsThe company offers Flexible Spending Accounts which provide you with the ability to deposit a portion of your earnings on a pre-tax basis through payroll deductions into a spending account for dependent care or for unreimbursed medical expenses not covered under your current medical insurance plan. You may opt to participate in either one or both accounts. Expenses must be incurred while you are employed by SafeNet Mykotronx
and/or eligible for the plan. It is important to select the appropriate
annual amount to deposit into this program. IRS regulations require
you to use all funds deposited by the end of the plan year or forfeit
any unused balances. Our Plan Administrator further requires all requests
for incurred expenses to be made within 90 days beyond the annual plan
year (our plan year is the calendar year). If you do not request expense
reimbursement within this time period, you will forfeit any unused balances
even if additional expenses were incurred during the calendar year. SafeNet, Inc. 401(k) PlanAt SafeNet Mykotronx, we feel it is important for you to plan for your financial future. To help you do this, we offer an attractive 401(k) profit sharing program. The 401(k) feature offers you the opportunity to save pre-tax earnings on a payroll deduction basis. Each plan year the company will make matching contributions in an amount equal to 50% of your employee pre-tax contributions to a maximum of $6,000. The 401(k) eligibility allows for enrollment the first of any month
following 3 months of regular full-time employment Employee Profit Sharing PlanSafeNet’s Profit Sharing Plan was designed as an extra incentive to our Compensation Plan to ensure that eligible employees are able to share in the success of our company when we deliver excellent profitability. For each quarter that SafeNet exceeds cash profit expectations, employees who are covered by the plan will receive a payment equal to 6% of their quarterly salary. This amount will be on a prorated basis for employees who joined the Company during the quarter or were otherwise not eligible to participate in the plan at the beginning of the quarter. Eligible employees begin participation in the plan from date of employment. If there is a quarter when we do not exceed our cash profit expectations, no payment will be made. Eligible employees must receive paid compensation in the quarter that the Profit Sharing is being paid, and must be an active employee at time of payout. This program is applicable to all employees who are not covered by
any other type of incentive/bonus program (i.e., sales commission, executive/management
incentive bonus, business unit bonus plans, etc.).
Tuition AssistanceSafeNet Mykotronx encourages its employees to further their education whenever possible, both to advance their own careers with SafeNet Mykotronx and to benefit the Company as a whole. Financial assistance is available to active regular full-time employees, based upon evaluation of the Company’s needs, the employee’s performance history and realistic career objectives with SafeNet Mykotronx, as well as the cost involved. Upon successful completion of the undergraduate or graduate course,
100 percent (100%) of costs will be reimbursed to the employee. Costs
for tuition, enrollment, books and lab fees are covered by this policy.
Reimbursements are taxable .
Employee Assistance Program The Employee Assistance Program (EAP) is a confidential round-the-clock
service that is available to help employees and their families. It consists
of third-party professionals who are accessible to offer support and
resources related to professional and personal matters, such as parenting
issues, work-related situations, relationship problems or substance
abuse. The EAP may be particularly valuable following a crisis or traumatic
event. There is no charge to the employee or their family members for
using the program. However, there may be charges if one chooses to use
any referrals to additional resources.
VacationRegular full-time (40 hours per week) employees accrue paid vacations as follows:
Vacation may be taken as it is accrued with the prior approval of the
Supervisor.
Sick Leave Sick leave is pro-rated during the first year of employment Sick leave hours are not accrued. They are not available to use for other than personal illness/injury or because of an illness/injury in your immediate family. Sick leave may not be carried over from one year to the next .
HolidaysSafeNet Mykotronx will grant holiday time off to all regularly scheduled full-time employees. SafeNet Mykotronx observes the following holidays in the United States: • New Year’s Day
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