2019BenefitsSummary

LIFE INSURANCE All full-time employees receive a $50,000 life insurance policy whether or not they choose to become members of the health insurance plan. It is provided by the company at no cost to the employee. Voluntary Life Insurance BL Companies offers employees the opportunity to enroll and increase Life Insurance coverage in the Voluntary Life Insurance Plan as long as they remain an eligible employee and continue to pay premiums at a group rate. LONG TERM AND SHORT TERM DISABILITY BL Companies provides full-time employees with Long & Short Term Disability Insurance from Sun Life Assurance Company — free of charge. This insurance is not for cases where an employee is disabled on the job, that would be considered a workers’ compensation claim. Long Term Disability Long Term Disability pays 60% of an employee’s salary up to a maximum benefit of $10,000 per month to the age of 65. It has a pre- existing condition clause, which states that if the individual has been to the doctor for anything in the 3 months before coverage under the plan, they will not be covered until they have satisfied a 12-month waiting period. Short Term Disability Short Term Disability pays 70% of an employee’s salary up to a maximum benefit of $2,500 per week for up to 12 weeks. There is no pre-existing condition clause, but there is a 7-day “elimination” period (that means one has to be under a doctor’s care for 7 days to qualify for short term disability).

RETIREMENT PLANS

401(k) Plan administered by The Principal Group Employees are eligible to participate in the 401(k) plan immediately after receiving first paycheck. Part-time employees have to put in 1000 hours of service over a 12-month consecutive period. There are funds from various asset classifications to choose from and an employee can contribute up to the maximum provided by IRS regulation before taxes. 401(k) Match BL Companies provides a 401(k) match. The 401(k) match is 100% on the first 3% and 50% on the next 2%.

“Our employee-owners have a stake in what we do and how we do it.”

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