SUMMARY OF BENEFITS
IConsulting Group Inc., (ICG) offers a competitive benefits package. Outlined below is a brief overview.
ICG offers medical coverage through CareFirst. All full-time employees are eligible to participate in the HMO Opt Out Plus Open Access HSA plan. The In Network Individual deductible is $1,200 and the Family deductible is $2,400. ICG pays 90% of the cost of the monthly premium for all employees.
ICG will contribute $600 to a Health Savings Account for those employees who elect individual coverage and $1,200 for those employees electing family coverage. The HSA Accounts will be established with M&T Bank.
Dental and Vision – Coverage is paid 100% by ICG
Dental and Vision coverage is available through Carefirst Blue Cross/Blue Shield.
Life and AD&D Insurance – Coverage is paid 100% by ICG
All full-time employees will receiveTerm Life insurance equal to 2 times their base salary (to a maximum guaranteed issue of $100,000). You may apply for amounts exceeding $100,000 by submitting a medical questionnaire. All additional insurance is subject to medical underwriting.
Disability Insurance – Coverage is paid by 100% by ICG
• SHORT TERM DISABILITY: Provides a weekly benefit of 67% of wages (not to exceed $1,000 per week). The elimination period is 15 days for accidents and 15 days for illnesses. The benefit period is (24) twenty-for weeks.
• LONG TERM DISABILITY: Provides a monthly benefit of 60% of wages (not to exceed $6,000 per month).
Profit Sharing/401(k) Plan
ICG currently offers a Safe Harbor 401(k) Plan through Sterling Trust Company. Employees may contribute between 0% and 100%, or any flat dollar amount, with a minimum of $5.00 of their compensation to a maximum of $17,000 (for 2012 as allowed by IRS). ICG will comply with the Safe Harbor Plan provisions and will make a matching contribution equal to 5% of compensation to a maximum of $4,000.
Performance and Salary Reviews
Salaries are based upon ability, experience and education and are competitive with comparable positions in both the private sector and government. Performance evaluations and salary reviews are conducted on your anniversary of employment.
ICG provides tuition reimbursement to full time employees interested in expanding their college education in a work-related field. Reimbursement is available at the completion of the course with a passing grade of C or higher for Undergraduate degrees and a B or higher for Graduate degrees. The maximum reimbursement for each calendar year is $5,250.00. Information is available for your review.
Technical Training and Conferences
Training is provided to the employee when further education is required to enhance his/her technical abilities. Conferences shall be reviewed on an individual case by case basis.
Vacation/Sick Leave Combination
Your vacation/sick leave entitlement increases with year of service according to the following schedule:
|Years of Service Accrued
First to Third anniversary
Fourth to Seventh anniversary
Eighth to Departure of Company
20 days per year
23 days per year
25 days per year
You will receive twelve (12) paid holidays per year, which are: New Year's Day, Martin Luther King Jr Birthday, Presidents Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving Day, Christmas Day and two (2) personal holidays.
Other Paid Leave
The Company grants two (2) days of bereavement for a death in the immediate family and up to two (2) days for jury duty. Extended unpaid leave may be granted for medical, personal, military, or educational reasons. These shall be on a case by case basis and must be approved by management.
Employee Referral Bonus Program
ICG will pay a referral bonus to each employee who follows the provisions of this policy and refers qualified candidates. Candidates who are subsequently hired as a regular full time employee will be paid in accordance with the following schedule. The program is continuous and shall follow the schedule below:
• $5,000 for the first hire;
• $6,000 for the second hire;
• $7,000 for the third hire and those thereafter.
This Summary of Benefits is for informational purposes only. ICG reserves the right to amend, modify or terminate any of the benefits listed in this summary.