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BENEFIT
PROGRAMS |
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We at Bisco, Inc. pride ourselves in offering
our employees one of the most competitive benefit
packages available. The full complement of benefits
are available to all regular full-time employees,
as well as, all regular part-time employees working
a minimum of 30 hours each week. The summary below
has been provided for informational purposes only.
All benefits for eligible employees start as indicated.
To the extent there may be a conflict between
the summary and the plan document, the plan document
shall prevail.
HOURS OF WORK:
The normal workday is 8 hours (40 hours/week),
excluding a 30-minute lunch period. Office hours
are based on a modified flextime structure, 8:00AM
to 4:30PM; 8:30AM to 5:00PM; 9:00AM to 5:30PM;
or 9:30AM to 6:00PM. The preceding examples include
the 30-minute lunch period. Because of the unique
needs of each department, it is at the discretion
of each supervisor to decide on the appropriate
daily schedule.
BI-WEEKLY PAYROLL with DIRECT DEPOSITS:
To make it easier on all employees during the
hectic times, all biweekly Friday payroll activities
are handled through direct deposits to the employee's
bank of choice. Deposits can be made to multiple
banks and/or accounts (checking/savings). If an
employee does not possess a checking account,
arrangements can be made with the Corporate banking
facility, to provide "fee free" account.
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PAID
TIME OFF
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ACCRUED PAID
DAYS OFF:
The Accrued Paid Days Off (APDO) program can be
used for any reason; including illness (personal
and/or family), vacation, personal business, leisure
activities, health related appointments (personal
and/or family), as well as, time off associated
with the Family Medical Leave Act, providing you
the flexibility to use the time off as needed. Separate
policies apply to holidays, bereavement leave, jury
duty, and military leave.
All regular full-time and regular part-time (scheduled
to work 20 hours or more per week) are eligible
for the APDO benefit. Employees classified as "casual"
are not eligible for the APDO benefit. Eligible
employees earn APDO time based upon their continuous
length of service, and are accrued from their anniversary
or eligibility date (if modified due to leaves of
absence). APDO time can be taken in 1-hour increments,
and will be paid at the pay rate in effect at the
time it is used. Advance Supervisory approval is
required to be paid APDO time.
ANNUAL APDO MAXIMUM:
The following table shows the maximum APDO time
that can be accrued by a regular full-time employee
based on their continuous years of service from
their anniversary date. |
| YEARS
OF COMPLETED SERVICE |
ACCRUED
APDO DAYS |
ACCRUAL
RATE |
| 0 to 1 |
0 |
1 day per 17 workdays |
| 1 to 7 years |
15 |
1 day per 17 workdays |
| 8 years |
16 |
1 day per 16 workdays |
| 9 years |
17 |
1 day per 15 workdays |
| 10 years |
18 |
1 day per 14 workdays |
| 11 years |
19 |
1 day per 13.5 workdays |
| 12 years |
20 |
1 day per 13 workdays |
| 13 years |
20 |
1 day per 13 workdays |
| 14 years |
21 |
1 day per 12.5 workdays |
| 15 years |
21 |
1 day per 12 workdays |
| 16 years |
22 |
1 day per 12 workdays |
| 17 years |
22 |
1 day per 12 workdays |
| 18 years |
23 |
1 day per 11.5 workdays |
| 19 years |
23 |
1 day per 11.5 workdays |
| 20 years |
23 |
1 day per 11.5 workdays |
| 21 years |
24 |
1 day per 11 workdays |
| 22 years |
24 |
1 day per 11 workdays |
| 23 years |
24 |
1 day per 11 workdays |
| 24+ years |
25 |
1 day per 10.5 workdays |
Eligible employees are able to use additional accrued
APDO time as it is accrued. Newly hired employees
begin accruing time after completing 30 days of
service, and can use the APDO time after completing
6 months of service. Regular part-time employees
who are scheduled to work at least 20-hours per
week participate in the APDO program on a pro-rated
basis, based upon the scheduled hours. The pro-rated
formula applies to time available, accruals, and
annual maximums. APDO time cannot be carried over
to the following year. Upon termination, any unused
and accrued APDO time will be paid out.
HOLIDAYS:
Bisco, Inc. provides 8 paid holidays per year. They
are: New Years' Day, Memorial Day, Fourth of July,
Labor Day, Thanksgiving Day, the Day after Thanksgiving,
Christmas Eve, and Christmas Day. Occasionally,
an additional day or days may be granted to bridge
the gap between holiday or weekend periods.
BEREAVEMENT DAYS:
Employees may take paid leave for bereavement equal
to: 3 days for an immediate family member (spouse,
child, adopted child, parent, current in-law, grandparent,
brother, sister, or child's spouse), and 1 day for
non-immediate family members (grandchildren, stepchildren,
step parents, aunt or uncle). Additional time can
be provided utilizing available APDO time, as long
as it is requested in advance.
JURY DUTY DAYS:
If required to serve on a jury, you will be granted
the time off to participate. If the amount of the
compensation paid per day is less than your regular
daily pay, we will pay you for each day that you
were required to serve, provided the daily stipend
is endorsed over to us. To ensure that proper arrangements
can be made to cover work assignments, employees
must advise their supervisor, as soon as, they are
instructed to report for jury duty. |
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SAVINGS
PLANS
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401(k) PLAN:
Our 401(k) Plan is available to all eligible employees
through convenient payroll deductions. Employees
can begin participating on January 1st or July 1st,
upon completing 6 months of service. The Company
matches 50% of each employee's initial 6% biweekly
contribution. Employees can contribute up to a maximum
of 25% biweekly, provided it does not exceed the
IRS annual maximums. A choice of many investment
funds ranging from high risk to guaranteed funds
are available. Employees have 24-hour Internet access
to account information, or can utilize the telephone
service. Immediate rollovers into provisionary accounts
are available
PROFIT SHARING PLAN:
You are automatically enrolled in the non-contributory
Profit Sharing Plan upon completing one full year
of service, and being an active employee on December
31st. This plan runs in unison with the Company's
401(k), and contributions are distributed proportionately
into the same accounts. The amount of the contribution
is discretionary depending on the Company's profitability
and future outlook.
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INSURANCE
COVERAGE
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MEDICAL COVERAGE:
On the first of the month following 30 days of service,
employees are eligible to participate in the Medical
plan. Our plan provides an HMO or PPO option, depending
on your preference. Bisco Inc. contributes 82.5%
toward the employee monthly premium and 55% toward
the family premium, when elected. A Prescription
drug card is provided for either option. Employee
contributions are based on pre-tax dollars.
DENTAL COVERAGE:
On the first of the month following 30 days of service,
employees are eligible to participate in the Dental
plan. Our plan offers a choice of going to any dentist
you wish, or to utilize the DMO provided by the
carrier. Bisco, Inc. contributes 50% toward the
employee and the family monthly premiums, when elected.
Employee contributions are based on pre-tax dollars.
LIFE INSURANCE and ACCIDENTAL DEATH & DISMEMBERMENT
COVERAGE:
On the first of the month following 30 days of service,
you automatically receive a complimentary basic
term life insurance in the amount of $20,000, including
an Accidental Death and Dismemberment provision.
The entire premium is paid by Bisco, Inc.
LONG TERM DISABILITY COVERAGE:
You are also automatically eligible for this coverage
at the same time. It provides income replacement
when an illness or injury keeps you out of work
for more than 13 consecutive weeks. It covers 60%
of your basic monthly salary up to a maximum of
$6000 monthly. The entire premium is paid by Bisco,
Inc.
WORKERS' COMPENSATION COVERAGE:
All employees are immediately covered by Workers'
Compensation insurance. Bisco, Inc. pays the entire
premium for this coverage. Should you have a work-related
injury or illness, this covers the cost of medical
treatment, as well as, a percentage of your average
weekly compensation, if you are unable to work or
become partially disabled, to the extent provided
under Illinois Workers' Compensation laws.
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OPTIONAL
INSURANCE COVERAGE
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Bisco, Inc. has
made arrangements with insurance carriers to offer
additional benefits to employees wishing to participate.
Participation in these plans is totally optional.
Enrollment for this coverage can start on January
1st or July 1st, following the employee's date of
hire.
SHORT TERM DISABILITY COVERAGE:
You can elect to participate by purchasing this
option, after meeting with the carrier's representative.
The cost of the premium is determined by the specific
options selected at the time of the meeting. This
coverage is portable, and can be carried on if the
employee terminates from Bisco, Inc. Premium payment
is made through convenient payroll deductions and
can be made on pre-tax or post-tax dollars.
SUPPLEMENTAL LIFE INSURANCE COVERAGE:
You can elect to participate by purchasing this
option after meeting with the carrier's representative.
This coverage is available to the employee and any
additional dependents. This coverage is portable.
Premium payment is made through convenient payroll
deductions.
FLEXIBLE BENEFIT SPENDING ACCOUNTS:
We offer you the opportunity to contribute pre-tax
dollars into an account administered by a TPA (third-party
administrator) for health care expenses and/or eligible
dependent daycare expenses that are not covered
by other benefit plans. |
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UNPAID
ABSENCES
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FAMILY and
MEDICAL LEAVES:
Family and medical unpaid leave is available to
employees who have been employed by Bisco, Inc.
for at least 12 months and have worked at least
1,250 hours during the preceding year. All eligible
APDO time must be used at onset of the Family Leave.
Bisco, Inc. conforms to the Family Medical Leave
Act (FMLA).
MILITARY LEAVES:
Bisco, Inc. provides leaves without pay for military
or reserve duty. Employees are required to submit
copies of their military orders to their supervisors,
as early as possible. No additional APDO time will
accrue during the leave. Bisco, Inc. complies with
all federal and state laws in determining eligibility
for reinstatement.
PERSONAL LEAVES:
Only regular full-time employees may request an
unpaid personal leave of absence limited to a maximum
of one month. All eligible APDO time must be used,
prior to requesting such unpaid time off. No APDO
time will accrue during the leave. |
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EXTRAS
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TUITION REIMBURSEMENT
PROGRAM:
Regular full-time employees with 1 year of service
are eligible to for reimbursement on courses that
are directly related to the employee's position
and business responsibilities. It is limited to
a maximum of 2 courses per semester/quarter, and
1 book per course. Reimbursement is based on the
grade level achieved, after completion of the course.
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Additional Extras
- Business Casual Environment
- Company/Employee Picnic
- Company Holiday Party
- Flu Shot Program
- Available memberships in Sam's
Warehouse Club
- Book Rental Library
- Discount Tickets for Local
Theme Parks
- Outside Training
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