Understanding Future Effects of Today's Decisions

WILLCOR Benefit Summary


WILLCOR Fringe Benefits Summary (as of December 2015)

Benefit Description Applies To
Vacation, Holiday, Sick & Other Leave WILLCOR provides all employees nine (9) holidays per year. All employees start with three weeks of Paid Time Off (PTO) per year. This all-purpose leave includes vacation and sick leave. Employees may choose days off based on their preference. Flexibility may be limited based on contract requirements. Employees may carry over leave balances of up to 80 hours. Employees may receive cash in lieu of leave under certain circumstances. The following leave schedule is applicable to all new WILLCOR employees: Years of Service - PTO: 0-3 years–4 weeks 3-9 years–5 weeks 9+ years–6 weeks Full Time Only
Retirement WILLCOR offers all employees participation in its 401(k) plan. WILLCOR makes a 100% match for up to 3% contribution by the employee and 50% match for the next 4-5% of the employee’s salary to all employees, part-time and full-time (paid monthly). This is known as “Safe Harbor” and there is no means testing of the contribution so all employees may contribute up the IRS limit. Vesting is IMMEDIATE. Exempt\Non-Exempt
Medical, Vision, Dental WILLCOR offers excellent HMO and PPO HSA plans that include medical, mental health, vision and dental coverage. Employees choose from a national network of doctors or choose their own doctor. The following is a summary of some of the key provisions of the plan. A complete copy of the plan document is available upon request. WILLCOR currently contributes approximately two thirds of the total premiums, with the employee contributing the remaining third. Medical: The plan allows direct access to specialists with no gatekeeper. Employer currently pays ~67% of the premium cost while the employee pays the remaining ~33%. Plan accepts enrollment from previous plans with comparable medical coverage. Mental Health: Treatment is reimbursed at 50% of reasonable and actual charges. Dental Plan: Covers 100% of preventative and diagnostic services with no deductible for both in and out of network. Other services include basic restorative services reimbursed at 90%/80% (in/out network), major restorative 60%/50%, and Orthodontia at 60%/50% Full Time Only
Life Accidental Death & Dismemberment Benefit is equal to annual salary up to $100,000. WILLCOR pays 100% of the premium. Full Time Only
Short-term Disability Short term disability is not currently available within WILLCOR; however, WILLCOR is a family oriented company and will work with the employee to help cover expenses prior to eligibility for Long Term Disability Full Time Only
Long-term Disability Long Term Disability benefits begin after 13 weeks of disability. The plan pays 60% of salary for length of disability until age 65. WILLCOR pays ~75% of the premium. Full Time Only
Educational Reimbursement WILLCOR encourages all employees to be life-long learners and grow professionally. WILLCOR reimburses undergraduate and graduate level courses where the employee earns a "B" or better. Annual reimbursement limit is $2,500. Full Time Only
Flexible Spending Accounts Since all WILLCOR Medical Plans are Health Savings Accounts, which are similar to Flexible Spending Accounts but have no expiration date like the annual FSA, WILLCOR does not offer Flexible spending Accounts. NA
Other Bonus/ Awards Recruitment Bonus. WILLCOR pays up to $1000 for referral and hire of qualified candidate. Development of a new product. Up to $1000. STAR Award is given several times each year to recognize a one-time exceptional performance event. Up to $500. Annual Performance Bonus is given annually based upon the employees’ contribution to WILLCOR’s growth. Exempt\Non-Exempt
Location Allowances Applicable on specific contracts as specified by specific TO and compliant with DoD regulations. Exempt\Non-Exempt
Per Diem, Subsistence and Travel WILLCOR reimburses Meals and Incidentals using the Federal Travel Regulation (FTR) per diem for the applicable locality. Lodging is based upon reasonable and actual costs. Air and other transportation is based upon reasonable and actual cost with most economical means being encouraged. Exempt\Non-Exempt
Severance Pay WILLCOR provides a minimum of 2 weeks notice except in disciplinary terminations. No severance is paid. Exempt\Non-Exempt
Overtime and Shift Premium Policy Salaried employees are not paid overtime except in unusual circumstances when approved in advance by the program manager. Non-exempt employees are paid overtime at time and one half as per the FLSA regulations. Full Time Only
Relocation Are paid at reasonable and actual costs based upon Federal Travel Regulations. Relocation costs under a contract must be approved in advance by the Program Manager and Contracting Officer Full Time Only
Employee Assistance Program WILLCOR provides confidential referral to counseling services for employees experiencing personal problems, at no cost to the employee. Exempt\Non-Exempt
Direct Deposit WILLCOR provides direct deposit to the employees’ financial institution at no charge. Exempt\Non-Exempt
Membership Dues and Subscriptions WILLCOR encourages its employees to participate in professional societies and professional journals. WILLCOR reimburses up to $130 per year of these costs. Exempt\Non-Exempt
Flexible Work Schedule WILLCOR offers a flexible work schedule to its employees based on a bi-weekly 80-hour pay period. Employees choose their work hours within the 80-hour pay period. All work schedules must be approved by the supervisor and are subject to customer and contract requirements. Exempt\Non-Exempt
Telecommuting WILLCOR has a telecommuting policy. Employees negotiate telecommuting schedules twice yearly with management. Exempt only
Overseas Medical Evacuation WILLCOR provides specified employees on travel overseas with MedJet coverage that provides emergency air transport to a hospital in the U.S. at no cost to the employee should the employee be injured or fall sick overseas. Exempt\Non-Exempt
War Zone Coverage While WILLCOR has no current policy for employees entering a War Zone, we anticipate that we would provide additions in pay and increase live insurance coverage to be competitive in the marketplace should this become a requirement Exempt\Non-Exempt