ADDITIONAL INFORMATION
401(K) PLAN
ADMINISTERED BY EMPOWER
Personal Time Off (PTO) Upon completion of 60 days of continuous employment, employees qualify to participate in our 401(k) plan on the 1st day of the following month. Upon qualifying, all employees will be enrolled with an initial contribution level of 3% of their pay, automatic with a 1% increase each year up to 8%, unless they opt out of the enrollment. Newly eligible participants will be mailed a Summary Plan Description of the plan, educational materials, and online enrollment instructions. For every $1.00 you contribute to the plan, the Company contributes $0.50 up to the first 8%. The Company’s Personal Time Off (PTO) policy is a part of the benefits package extended to employees and is designed to provide employees with the opportunity to balance their work and home lives. After completion of 90 days of employment with the Company, PTO is accrued on a monthly basis starting with 20 hours at 3 months; 40 hours at 6 months; 80 hours at 1 year; increasing periodically to 160 hours at 15 years of employment.
HOLIDAYS The following days will be considered Company Holidays:
- New Year’s Day - Memorial Day - Independence Day
- Labor Day - Thanksgiving Day & Day after - Christmas Eve and Christmas Day
JURY DUTY The company will make up the difference between an employee’s jury duty pay and the pay the employee would normally have received at work. [Not to exceed 8 hours per day, for a maximum of 10 consecutive days, for full time regular employees who have completed 90 days of continuous service and who are required to serve on a jury.] BEREAVEMENT LEAVE Full time regular employees who have completed 90 days of continuous service may request up to 3 workdays off due to the death of an employee’s spouse, parent, child, grandparent or sibling. 2 days of the leave will be paid to hourly employees at their regular rate of pay. To be eligible for holiday pay, hourly employees must have completed 90 days of continuous service, and work the day prior to and the day following the holiday (provided these are workdays and you are not on vacation). When a holiday falls on a weekend, advance notice will be given on whether the Friday before, or the Monday after will be considered the holiday. Leave is granted to employees under certain circumstances. Refer to the Employee Handbook on how and/or when you qualify to participate in these benefits. Follow the procedures as outlined in the handbook. FAMILY AND MEDICAL LEAVE, LEAVE OF ABSENCE, MILITARY LEAVE OF ABSENCE
17 The Concrete Company Benefit Guide |
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