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truckenjoe
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Frequently Asked Questions
Q1. Why did the company choose to roll this out in September, given the plan doesn’t start until January 1, 2008?
A1. We needed to ensure we had adequate time to educate people on how the plan works and to get elections made and submitted prior to the start date?
Q2. How does this benefit me?
A2. You get to choose what benefit mix is best for you and if you choice less than the max you will receive an increase in wage rate. Even if you choose the max benefit, everyone will see an increase in total compensation; the online calculators will illustrate this.
Q3. How do I get to the online wage calculators?
A3. Wage Calculators
Q4. How does the company benefit from this plan?
A4. We will have the ability to offer and pay for only the benefits that people need and want. If they need less then they will see more in their paychecks. This will help us reduce our cost and put us in a better place to recruit future employees.
Q5. This seems too good to be true, what’s the catch?
A5. No catch. We are trying to create a plan that gives you the choice based on the benefits you need and a plan that allows the company to only pay for benefits that people want. You get more choice and more total compensation value and the company gets lower costs due to not having to pay for benefits that are not used.
Q6. How will this affect me from a tax standpoint?
A6. If you elect to match the previous benefits, 6% pension and 2% healthcare, there is no effect on your taxable income accept for the impact of the increase in wages. Your contributions for benefits are deducted pretax so if you choose to receive less benefits and more wage, you will see additional taxable income because your taxable wage is higher.
Q7. Why are we giving this information to the union employees, it doesn’t apply to them?
A7. We want to be as transparent to our employees as possible, the union-free compensation plan is a major part of how we operate and we want the union employees to understand it. We don’t want any misinformation surrounding this new plan. Some of the union employees may have to make decisions to move under this plan if they take jobs at union-free facilities or as supervisors. Also, we stated in earlier communications that we are looking for more employee choice in our contract this time around and in our minds this is what employee choice looks like.
Q8. Is this the same thing you’re trying to get in the new union contract?
A8. We will propose a similar plan to the unions, what the final plan looks like will be subject to the negotiation process.
Q9. What is the deadline for my elections to be submitted?
A9. November 30, 2007
Q10. When and how often can I change my elections of healthcare and 401k contributions?
A10. The same rules apply to managing your new 401k (pension) as the old 401k. You will be able to update your investment mix as often as desired at Paradigm Financial Corp..
Q11. Can I have the 401k managed by the same people that managed the pension?
A11. Yes, you will have the choice of multiple mutual funds and the management group that managed the previous pension.
Q12. Can I still contribute to my current 401k and the new one or will they be combined if they are combined and what is the max I can contribute into a 401k?
A12. You can only contribute to 1 pretax 401k so the funds in your current 401k and your pension will be rolled into the single 401k effective 1/1/08. The max contribution you can make into a 401k is $15,500 annually unless you are 50 or over, then it is $20,500. This may change as this is a tax law not a company imposed limit.
Q13. How long will it take to roll my pension into the new 401k and when do I get control over that investment?
A13. You will have control over the funds invested into the new 401k from the moment they are invested on your behalf. The process for rolling over the old pension funds and the old 401k will start on 1/1/08 but can’t be finalized until the IRS signs off on it, this can take a year or longer. That money will continue to be managed as before within the old plans, any funds contributed after 1/1/08 will go into the new 401k.
Q14. Does this change affect the survivorship of my retirement money?
A14. No, your money is your money; it will have 100% survivorship just like the previous plan.
Q15. What happens to the last 2007 pension contribution to the 2007 pension plan?
A15. It is invested into the 2007 plan and will be rolled into the new plan.
Q16. I am not eligible for the current company pension until July 2008, when am I eligible for new 401k pension and when does the matching start?
A16. All full-time employees who are eligible for benefits who start with the company prior to October 31, 2007 will be eligible to contribute to the 401k pension on January 1, 2008 and will receive up to 6% matching unless the 7.5% applies. This is subject to the vesting rules.
Q17. How does the 401k vesting work?
A17. You are fully vested in your contributions. The vesting for the matching funds contributed into your 401k pension works the same as the previous pension plan, 0% under 1 year, 20% after 1 year, 40% after 2 years, 60% after 3 years and 80% after 4 years and 100% after 5 years. Vesting is calculated based on the date you are hired.
Q18. Will there be 401k matching for Casual employees?
A18. No, the 401k matching only applies to full time employees who are eligible for benefits.
Q19. How does the matching work if I contribute 16% into my 401k during the first 6 months of the year and 0% during the last 6 months?
A19. The company would match 6% or 7.5% dollar for dollar in the first 6 months and 0% during the last 6 months. You would be better off contributing 8% for the whole year so you would receive the maximum match for the year as well.
Q20. Does this change effect my Roth 401k options?
A20. No, it will not be effected in any way.
Q21. Is the healthcare the same plan as we had before?
A21. Yes, you will also have an option for a high deductable plan that will reduce the amount you will have to pay if you elect it.
Q22. How often will you change the contribution amounts for healthcare?
A22. The coverage rules have not changed. As always, we will have an open enrollment period in the last quarter of the year. Any changes to your healthcare plan must be made at that time unless you have a qualified life event. Contact HR for qualified life events. Make sure that you make your elections within this period for 2008 because your elections determine your contribution percentage.
Q23. If I am off sick for a month do I lose my insurance coverage and do I have to pay a contribution while I am out?
A23. That depends, if your absence is due to a FMLA qualifying event you would not lose your coverage for 12 weeks. You would be required to pay the 1% or 2% of your previous year’s average weekly wages, this is the same number used to calculate your vacation payout.
Q24. Can I use my FSA Account to pay for my contribution for healthcare?
A24. No, your FSA funds can’t be used to buy an insurance plan. Since the FSA money and the healthcare deduction are both pretax there is no benefit to using the FSA money.
Q25. I am a participant in the managers profit sharing, do I pay 2% of that for healthcare?
A25. No, the 2% does not apply to the profit share payments.
Q26. Why have you eliminated sick pay?
A26. A small percentage or our employees actually received benefit from the last one, that didn’t seem equitable. The government is also making it very difficult to manage these types of plans. Again, we want you to have the choice of how you use the resource and everyone shares the benefit equally.
Q27. What am I supposed to do if I am sick, I can’t afford to take the time off?
A27. Based on your own needs you should manage the money that you earn as a sick benefit. If this is a concern you can purchase short term disability insurance or invest the additional money that you get for sick benefit for a rainy day.
Q28. What is the cost of the short term disability plan that is payroll deductable?
A28. That depends on many factors. Age, wage, and when you want it to kick in 1, 3, 7, or 14 days for example. You can contact our insurance agent, Van Winkle Agency 425-787-2400,to get a quote based on your personal criteria
The plan we currently offer as of 9/12/07 for a person 24-49 years old, starting after 14 day wait period, paying 60% of your wage for 26 weeks and is 38.88/ month. You would probably want a plan that kicks in after 1, 3 or even 7 days, Van Winkle Agency can quote your cost on that.
Remember the sick pay plan would have paid you max 24 days (30 if you were here over 10 years) the insurance plans typically pay you up to 26 weeks. That is a significantly larger benefit.
Q29. How does the sick pay change effect Salaried employees?
A29. This change does not affect salaried employees, they do not accrue sick pay and they are not getting an adjustment to their wage due to the elimination of this program. They will remain on the current sick policy for salaried employees. That is why there are separate wage calculators, one for hourly and one for salaried, based on when they started.
Q30. What is the 2/3rd rule for calculating my sick bank buyout?
A30. Your sick leave bank will be divided by 40. After taking into account full days, if the remainder is higher than .66 you will receive a full personal holiday for that time. For example if you have 142 hours in your bank you would receive 3 days, (142 / 40 = 3.55) or if you have 150 hours you would receive 4 days, (150 / 40 = 3.75).
Q31. what options do I have for liquidating my sick bank?
A31. you hav e2 options. Take all days (1 for 5)as additional personal holidays within 2008 or get paid out all days (1 for 5)in cash by 3/30/08. You must make your choice by 12/31/07 as to which option your taking..
Q32. Does this plan effect my vacation pay or Holidays?
A32. No they are same as before.
Q1. Why did the company choose to roll this out in September, given the plan doesn’t start until January 1, 2008?
A1. We needed to ensure we had adequate time to educate people on how the plan works and to get elections made and submitted prior to the start date?
Q2. How does this benefit me?
A2. You get to choose what benefit mix is best for you and if you choice less than the max you will receive an increase in wage rate. Even if you choose the max benefit, everyone will see an increase in total compensation; the online calculators will illustrate this.
Q3. How do I get to the online wage calculators?
A3. Wage Calculators
Q4. How does the company benefit from this plan?
A4. We will have the ability to offer and pay for only the benefits that people need and want. If they need less then they will see more in their paychecks. This will help us reduce our cost and put us in a better place to recruit future employees.
Q5. This seems too good to be true, what’s the catch?
A5. No catch. We are trying to create a plan that gives you the choice based on the benefits you need and a plan that allows the company to only pay for benefits that people want. You get more choice and more total compensation value and the company gets lower costs due to not having to pay for benefits that are not used.
Q6. How will this affect me from a tax standpoint?
A6. If you elect to match the previous benefits, 6% pension and 2% healthcare, there is no effect on your taxable income accept for the impact of the increase in wages. Your contributions for benefits are deducted pretax so if you choose to receive less benefits and more wage, you will see additional taxable income because your taxable wage is higher.
Q7. Why are we giving this information to the union employees, it doesn’t apply to them?
A7. We want to be as transparent to our employees as possible, the union-free compensation plan is a major part of how we operate and we want the union employees to understand it. We don’t want any misinformation surrounding this new plan. Some of the union employees may have to make decisions to move under this plan if they take jobs at union-free facilities or as supervisors. Also, we stated in earlier communications that we are looking for more employee choice in our contract this time around and in our minds this is what employee choice looks like.
Q8. Is this the same thing you’re trying to get in the new union contract?
A8. We will propose a similar plan to the unions, what the final plan looks like will be subject to the negotiation process.
Q9. What is the deadline for my elections to be submitted?
A9. November 30, 2007
Q10. When and how often can I change my elections of healthcare and 401k contributions?
A10. The same rules apply to managing your new 401k (pension) as the old 401k. You will be able to update your investment mix as often as desired at Paradigm Financial Corp..
Q11. Can I have the 401k managed by the same people that managed the pension?
A11. Yes, you will have the choice of multiple mutual funds and the management group that managed the previous pension.
Q12. Can I still contribute to my current 401k and the new one or will they be combined if they are combined and what is the max I can contribute into a 401k?
A12. You can only contribute to 1 pretax 401k so the funds in your current 401k and your pension will be rolled into the single 401k effective 1/1/08. The max contribution you can make into a 401k is $15,500 annually unless you are 50 or over, then it is $20,500. This may change as this is a tax law not a company imposed limit.
Q13. How long will it take to roll my pension into the new 401k and when do I get control over that investment?
A13. You will have control over the funds invested into the new 401k from the moment they are invested on your behalf. The process for rolling over the old pension funds and the old 401k will start on 1/1/08 but can’t be finalized until the IRS signs off on it, this can take a year or longer. That money will continue to be managed as before within the old plans, any funds contributed after 1/1/08 will go into the new 401k.
Q14. Does this change affect the survivorship of my retirement money?
A14. No, your money is your money; it will have 100% survivorship just like the previous plan.
Q15. What happens to the last 2007 pension contribution to the 2007 pension plan?
A15. It is invested into the 2007 plan and will be rolled into the new plan.
Q16. I am not eligible for the current company pension until July 2008, when am I eligible for new 401k pension and when does the matching start?
A16. All full-time employees who are eligible for benefits who start with the company prior to October 31, 2007 will be eligible to contribute to the 401k pension on January 1, 2008 and will receive up to 6% matching unless the 7.5% applies. This is subject to the vesting rules.
Q17. How does the 401k vesting work?
A17. You are fully vested in your contributions. The vesting for the matching funds contributed into your 401k pension works the same as the previous pension plan, 0% under 1 year, 20% after 1 year, 40% after 2 years, 60% after 3 years and 80% after 4 years and 100% after 5 years. Vesting is calculated based on the date you are hired.
Q18. Will there be 401k matching for Casual employees?
A18. No, the 401k matching only applies to full time employees who are eligible for benefits.
Q19. How does the matching work if I contribute 16% into my 401k during the first 6 months of the year and 0% during the last 6 months?
A19. The company would match 6% or 7.5% dollar for dollar in the first 6 months and 0% during the last 6 months. You would be better off contributing 8% for the whole year so you would receive the maximum match for the year as well.
Q20. Does this change effect my Roth 401k options?
A20. No, it will not be effected in any way.
Q21. Is the healthcare the same plan as we had before?
A21. Yes, you will also have an option for a high deductable plan that will reduce the amount you will have to pay if you elect it.
Q22. How often will you change the contribution amounts for healthcare?
A22. The coverage rules have not changed. As always, we will have an open enrollment period in the last quarter of the year. Any changes to your healthcare plan must be made at that time unless you have a qualified life event. Contact HR for qualified life events. Make sure that you make your elections within this period for 2008 because your elections determine your contribution percentage.
Q23. If I am off sick for a month do I lose my insurance coverage and do I have to pay a contribution while I am out?
A23. That depends, if your absence is due to a FMLA qualifying event you would not lose your coverage for 12 weeks. You would be required to pay the 1% or 2% of your previous year’s average weekly wages, this is the same number used to calculate your vacation payout.
Q24. Can I use my FSA Account to pay for my contribution for healthcare?
A24. No, your FSA funds can’t be used to buy an insurance plan. Since the FSA money and the healthcare deduction are both pretax there is no benefit to using the FSA money.
Q25. I am a participant in the managers profit sharing, do I pay 2% of that for healthcare?
A25. No, the 2% does not apply to the profit share payments.
Q26. Why have you eliminated sick pay?
A26. A small percentage or our employees actually received benefit from the last one, that didn’t seem equitable. The government is also making it very difficult to manage these types of plans. Again, we want you to have the choice of how you use the resource and everyone shares the benefit equally.
Q27. What am I supposed to do if I am sick, I can’t afford to take the time off?
A27. Based on your own needs you should manage the money that you earn as a sick benefit. If this is a concern you can purchase short term disability insurance or invest the additional money that you get for sick benefit for a rainy day.
Q28. What is the cost of the short term disability plan that is payroll deductable?
A28. That depends on many factors. Age, wage, and when you want it to kick in 1, 3, 7, or 14 days for example. You can contact our insurance agent, Van Winkle Agency 425-787-2400,to get a quote based on your personal criteria
The plan we currently offer as of 9/12/07 for a person 24-49 years old, starting after 14 day wait period, paying 60% of your wage for 26 weeks and is 38.88/ month. You would probably want a plan that kicks in after 1, 3 or even 7 days, Van Winkle Agency can quote your cost on that.
Remember the sick pay plan would have paid you max 24 days (30 if you were here over 10 years) the insurance plans typically pay you up to 26 weeks. That is a significantly larger benefit.
Q29. How does the sick pay change effect Salaried employees?
A29. This change does not affect salaried employees, they do not accrue sick pay and they are not getting an adjustment to their wage due to the elimination of this program. They will remain on the current sick policy for salaried employees. That is why there are separate wage calculators, one for hourly and one for salaried, based on when they started.
Q30. What is the 2/3rd rule for calculating my sick bank buyout?
A30. Your sick leave bank will be divided by 40. After taking into account full days, if the remainder is higher than .66 you will receive a full personal holiday for that time. For example if you have 142 hours in your bank you would receive 3 days, (142 / 40 = 3.55) or if you have 150 hours you would receive 4 days, (150 / 40 = 3.75).
Q31. what options do I have for liquidating my sick bank?
A31. you hav e2 options. Take all days (1 for 5)as additional personal holidays within 2008 or get paid out all days (1 for 5)in cash by 3/30/08. You must make your choice by 12/31/07 as to which option your taking..
Q32. Does this plan effect my vacation pay or Holidays?
A32. No they are same as before.
T
truckenjoe
Guest
Plan Overview
This plan is by design very simple. The company will increase your wage or salary and will ask you to contribute part of that increase back to the company to help pay for the benefits you elect to receive. In every case, if you elect to receive the same benefits that you’ve received in the past, you will still see an increase in your wage or salary. Remember the intent of this plan is not to take benefits away but to pay for benefits that employees want to receive. If you elect to receive fewer benefits you will keep more of the increase as a higher wage.
Here is the bullet version of the plan, the rest of this booklet will go into more detail for each item and provide you with examples and calculators to see how this will affect you.
Employees will receive an increase in wage or salary, 11% or 12.5%
You will have a option to contribute to a company 401K pension and the company will match up to either 6% or 7.5%.
You can choose which healthcare coverage you need and contribute 0-2% (no coverage = 0%, employee only = 1%, or employee plus 1 or more dependents = 2%).
For hourly employees, you will receive an addition .15 per hour in your wage in place of a sick pay benefit.
The break down of what you will receive is based on 2 criteria:
When you started with the company, on or before December 31, 2002 or after December 31, 2002.
The reason for this criteria is that in the old plan employees that started on or before December 31, 2002 received 15% pension contribution while those who started after December 31, 2002 received 12%. This means that in the new plan the company will match 7.5% of the pension contribution for the 15% people and 6% for the 12% people.
Salaried or Hourly compensation
The reason for this criteria is that salaried employees don’t currently have a sick leave benefit and hourly people do. Since the sick leave benefit is being restructured into hourly compensation it does not apply to salaried employees.
These criteria are used to determine which Wage Calculator applies to you.
This plan is by design very simple. The company will increase your wage or salary and will ask you to contribute part of that increase back to the company to help pay for the benefits you elect to receive. In every case, if you elect to receive the same benefits that you’ve received in the past, you will still see an increase in your wage or salary. Remember the intent of this plan is not to take benefits away but to pay for benefits that employees want to receive. If you elect to receive fewer benefits you will keep more of the increase as a higher wage.
Here is the bullet version of the plan, the rest of this booklet will go into more detail for each item and provide you with examples and calculators to see how this will affect you.
Employees will receive an increase in wage or salary, 11% or 12.5%
You will have a option to contribute to a company 401K pension and the company will match up to either 6% or 7.5%.
You can choose which healthcare coverage you need and contribute 0-2% (no coverage = 0%, employee only = 1%, or employee plus 1 or more dependents = 2%).
For hourly employees, you will receive an addition .15 per hour in your wage in place of a sick pay benefit.
The break down of what you will receive is based on 2 criteria:
When you started with the company, on or before December 31, 2002 or after December 31, 2002.
The reason for this criteria is that in the old plan employees that started on or before December 31, 2002 received 15% pension contribution while those who started after December 31, 2002 received 12%. This means that in the new plan the company will match 7.5% of the pension contribution for the 15% people and 6% for the 12% people.
Salaried or Hourly compensation
The reason for this criteria is that salaried employees don’t currently have a sick leave benefit and hourly people do. Since the sick leave benefit is being restructured into hourly compensation it does not apply to salaried employees.
These criteria are used to determine which Wage Calculator applies to you.
T
truckenjoe
Guest
Wage Adjustments
Every employee covered under this plan will receive an increase in salary. Here are the details of what you will be receiving starting January 1, 2008:
Hourly starting after 12/31/02
Increase of 11% in wage plus .15 per hour. For example, if your wage is $20.05/hr you will move to $22.41/hr. (20.05 x 1.11 + .15)
Hourly starting on or before 12/31/02
Increase of 12.5% in wage plus .15 per hour. For example, if your wage is $20.05/hr you will move to $22.71/hr. (20.05 x 1.125 + .15)
Salaried starting after 12/31/02
Increase of 11%. So if your salary is 45,000 per year or $1875/pay period you would go to $2081.25/pay period. (45000 x 1.11 / 24)
Salaried starting on or before 12/31/02
Increase of 12.5%. So if your salary is 45,000 per year or $1875/pay period you would go to $2109.38/pay period (45000 x 1.125 / 24)
What you will find when you look at the entire compensation plan is that the amount of wage increase is higher than the amount of contribution you will make as elections for your benefits. If you choose the same benefits as you had in 2007 you will still have an increase in your wage or salary. If you need and therefore choose less benefits you keep more of that increase in your paycheck.
We have created online calculators to illustrate what your new wage will be based on your current wage and your benefit elections.
Healthcare choices
This portion of the plan is the same no matter who you are. You will have the choice of what amount of coverage you receive under this program. Here is the detail of your choices:
No coverage. You contribute 0%.
Employee only insurance. For this option you will contribute 1%.
Employee, spouse and/or dependents. For this option you will contribute 2%.
These choices let you decide what mix of healthcare coverage you need. If you need the same level of coverage as before then you will use the full 2% that your wage was increase to cover healthcare. If you need less coverage you will keep all or a portion of the increase in your wage or salary.
Healthcare choices
This portion of the plan is the same no matter who you are. You will have the choice of what amount of coverage you receive under this program. Here is the detail of your choices:
No coverage. You contribute 0%.
Employee only insurance. For this option you will contribute 1%.
Employee, spouse and/or dependents. For this option you will contribute 2%.
These choices let you decide what mix of healthcare coverage you need. If you need the same level of coverage as before then you will use the full 2% that your wage was increase to cover healthcare. If you need less coverage you will keep all or a portion of the increase in your wage or salary.
Every employee covered under this plan will receive an increase in salary. Here are the details of what you will be receiving starting January 1, 2008:
Hourly starting after 12/31/02
Increase of 11% in wage plus .15 per hour. For example, if your wage is $20.05/hr you will move to $22.41/hr. (20.05 x 1.11 + .15)
Hourly starting on or before 12/31/02
Increase of 12.5% in wage plus .15 per hour. For example, if your wage is $20.05/hr you will move to $22.71/hr. (20.05 x 1.125 + .15)
Salaried starting after 12/31/02
Increase of 11%. So if your salary is 45,000 per year or $1875/pay period you would go to $2081.25/pay period. (45000 x 1.11 / 24)
Salaried starting on or before 12/31/02
Increase of 12.5%. So if your salary is 45,000 per year or $1875/pay period you would go to $2109.38/pay period (45000 x 1.125 / 24)
What you will find when you look at the entire compensation plan is that the amount of wage increase is higher than the amount of contribution you will make as elections for your benefits. If you choose the same benefits as you had in 2007 you will still have an increase in your wage or salary. If you need and therefore choose less benefits you keep more of that increase in your paycheck.
We have created online calculators to illustrate what your new wage will be based on your current wage and your benefit elections.
Healthcare choices
This portion of the plan is the same no matter who you are. You will have the choice of what amount of coverage you receive under this program. Here is the detail of your choices:
No coverage. You contribute 0%.
Employee only insurance. For this option you will contribute 1%.
Employee, spouse and/or dependents. For this option you will contribute 2%.
These choices let you decide what mix of healthcare coverage you need. If you need the same level of coverage as before then you will use the full 2% that your wage was increase to cover healthcare. If you need less coverage you will keep all or a portion of the increase in your wage or salary.
Healthcare choices
This portion of the plan is the same no matter who you are. You will have the choice of what amount of coverage you receive under this program. Here is the detail of your choices:
No coverage. You contribute 0%.
Employee only insurance. For this option you will contribute 1%.
Employee, spouse and/or dependents. For this option you will contribute 2%.
These choices let you decide what mix of healthcare coverage you need. If you need the same level of coverage as before then you will use the full 2% that your wage was increase to cover healthcare. If you need less coverage you will keep all or a portion of the increase in your wage or salary.
T
truckenjoe
Guest
Healthcare choices
This portion of the plan is the same no matter who you are. You will have the choice of what amount of coverage you receive under this program. Here is the detail of your choices:
No coverage. You contribute 0%.
Employee only insurance. For this option you will contribute 1%.
Employee, spouse and/or dependents. For this option you will contribute 2%.
These choices let you decide what mix of healthcare coverage you need. If you need the same level of coverage as before then you will use the full 2% that your wage was increase to cover healthcare. If you need less coverage you will keep all or a portion of the increase in your wage or salary.
This portion of the plan is the same no matter who you are. You will have the choice of what amount of coverage you receive under this program. Here is the detail of your choices:
No coverage. You contribute 0%.
Employee only insurance. For this option you will contribute 1%.
Employee, spouse and/or dependents. For this option you will contribute 2%.
These choices let you decide what mix of healthcare coverage you need. If you need the same level of coverage as before then you will use the full 2% that your wage was increase to cover healthcare. If you need less coverage you will keep all or a portion of the increase in your wage or salary.
T
truckenjoe
Guest
Changes to the sick pay benefit
Government regulations have made the administration of sick pay very difficult and, often times, unfair to many employees. We believe that we have a small percentage of employees who receive any benefit from this program. We feel it is much more equitable to pay all hourly employees .15 per hour in additional wage and eliminate the sick pay program.
You now have the choice of what to do with this money. For example you could set it aside in a personal savings account to use for times when you are sick or you could use it to pay for short term disability insurance. We offer a payroll deduct program for a short term disability plan offered by Van Winkle Agency or you could shop outside for an individual plan
For those of you that have a “bank” you will be allowed to schedule eight (8) hours paid time off, within the 2008 calendar year, for every forty (40) hours in your sick bank or you can elect to receive the cash value of those days. If elected, the cash value will be paid out by 3/30/08. Rounding will be based on a two-thirds rule. The Sick pay banks will no longer exist after January 1, 2008. HR will notify you of the number of extra personal days you will be eligible to use or be paid cash value for, the form they send you will be the document you will use to make your choice of days off or cash value. The benefit of this the days off is that you can schedule that time off, just like your personal holiday or vacation, you do not have to be sick or ill to use it.
The absenteeism policy and our commitment to complying with FMLA regulations will continue so nothing will change regarding leaves or absences.
Government regulations have made the administration of sick pay very difficult and, often times, unfair to many employees. We believe that we have a small percentage of employees who receive any benefit from this program. We feel it is much more equitable to pay all hourly employees .15 per hour in additional wage and eliminate the sick pay program.
You now have the choice of what to do with this money. For example you could set it aside in a personal savings account to use for times when you are sick or you could use it to pay for short term disability insurance. We offer a payroll deduct program for a short term disability plan offered by Van Winkle Agency or you could shop outside for an individual plan
For those of you that have a “bank” you will be allowed to schedule eight (8) hours paid time off, within the 2008 calendar year, for every forty (40) hours in your sick bank or you can elect to receive the cash value of those days. If elected, the cash value will be paid out by 3/30/08. Rounding will be based on a two-thirds rule. The Sick pay banks will no longer exist after January 1, 2008. HR will notify you of the number of extra personal days you will be eligible to use or be paid cash value for, the form they send you will be the document you will use to make your choice of days off or cash value. The benefit of this the days off is that you can schedule that time off, just like your personal holiday or vacation, you do not have to be sick or ill to use it.
The absenteeism policy and our commitment to complying with FMLA regulations will continue so nothing will change regarding leaves or absences.
T
truckenjoe
Guest
Sample Senarios
Here are some scenarios and how they play out:
1. Hourly employee started after 12/31/02 making 20.05 / hour, wants no pension and employee only healthcare coverage.
Current wage $20.05
Increase $2.36
New Wage $22.41
Pension election 0% (.00)
Healthcare election 1% (.22)
Net effective wage after benefits $22.19
2. Hourly employee started after 12/31/02 making 20.05 / hour, wants 12% total pension and employee plus 3 dependent healthcare coverage.
Current wage $20.05
Increase $2.36
New Wage $22.41
Pension election 6% (1.34)
Healthcare election 2% (.45)
Net effective wage after benefits $20.62
3. Hourly employee started before 12/31/02 making 20.05 / hour, wants no pension and employee only healthcare coverage.
current wage $20.05
Increase $2.66
New Wage $22.71
Pension election 0% (.00)
Healthcare election 1% (.23)
Net effective wage after benefits $22.48
4. Hourly employee started before 12/31/02 making 20.05 / hour, wants 15% total pension and employee plus 3 dependents healthcare coverage.
current wage $20.05
Increase $2.66
New Wage $22.71
Pension election 7.5% (1.70)
Healthcare election 2% (.45)
Net effective wage after benefits $20.56
5. Salaried employee started before 12/31/02 making 1875 / pay period, wants 15% total pension and employee plus 3 dependents healthcare coverage.
current wage $1,875.00
Increase $234.38
New Wage $2,109.38
Pension election 7.5% (158.20)
Healthcare election 2% (42.19)
Net effective wage after benefits $1908.99
6. Salaried employee started after 12/31/02 making 1875 / pay period, wants 12% total pension and employee plus 3 dependents healthcare coverage.
current wage $1,875.00
Increase $206.25
New Wage $2,081.25
Pension election 6.0% (124.88)
Healthcare election 2% (41.63)
Net effective wage after benefits $1,914.74
Here are some scenarios and how they play out:
1. Hourly employee started after 12/31/02 making 20.05 / hour, wants no pension and employee only healthcare coverage.
Current wage $20.05
Increase $2.36
New Wage $22.41
Pension election 0% (.00)
Healthcare election 1% (.22)
Net effective wage after benefits $22.19
2. Hourly employee started after 12/31/02 making 20.05 / hour, wants 12% total pension and employee plus 3 dependent healthcare coverage.
Current wage $20.05
Increase $2.36
New Wage $22.41
Pension election 6% (1.34)
Healthcare election 2% (.45)
Net effective wage after benefits $20.62
3. Hourly employee started before 12/31/02 making 20.05 / hour, wants no pension and employee only healthcare coverage.
current wage $20.05
Increase $2.66
New Wage $22.71
Pension election 0% (.00)
Healthcare election 1% (.23)
Net effective wage after benefits $22.48
4. Hourly employee started before 12/31/02 making 20.05 / hour, wants 15% total pension and employee plus 3 dependents healthcare coverage.
current wage $20.05
Increase $2.66
New Wage $22.71
Pension election 7.5% (1.70)
Healthcare election 2% (.45)
Net effective wage after benefits $20.56
5. Salaried employee started before 12/31/02 making 1875 / pay period, wants 15% total pension and employee plus 3 dependents healthcare coverage.
current wage $1,875.00
Increase $234.38
New Wage $2,109.38
Pension election 7.5% (158.20)
Healthcare election 2% (42.19)
Net effective wage after benefits $1908.99
6. Salaried employee started after 12/31/02 making 1875 / pay period, wants 12% total pension and employee plus 3 dependents healthcare coverage.
current wage $1,875.00
Increase $206.25
New Wage $2,081.25
Pension election 6.0% (124.88)
Healthcare election 2% (41.63)
Net effective wage after benefits $1,914.74
T
truckenjoe
Guest
If you don't have answers you are looking for from OAKH please contact
Contact E-mail Phone
Ask the Boss [email protected] 1-800-288-8300 x10049
Kim Cookson, Human Resources Manager [email protected] 253-804-1006
Contact E-mail Phone
Ask the Boss [email protected] 1-800-288-8300 x10049
Kim Cookson, Human Resources Manager [email protected] 253-804-1006
v for vendetta
TB Lurker
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Let your union rep explain your benefit package he there for you.By the way brother
dockworker consider how the company has treated you at work in the time you've been
there.This being said ask yourself if you think
these people are here to look out for your best interest.Can you trust them? aSK FELLOW EMPLOYEES WHO HAVE BEEN THERE
LONGER THAN YOU IF THE COMPANY WILL EVER HIRE YOU OR JUST STRING YOU ALONG
dockworker consider how the company has treated you at work in the time you've been
there.This being said ask yourself if you think
these people are here to look out for your best interest.Can you trust them? aSK FELLOW EMPLOYEES WHO HAVE BEEN THERE
LONGER THAN YOU IF THE COMPANY WILL EVER HIRE YOU OR JUST STRING YOU ALONG
freightpunk
TB Lurker
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Gee, for being a Portland driver you sure know your way around the company Rolodex.I mean I've asked guys for corporate info before and even management has a hard time with that.Hmmm.MANAGER!!!!
I haven't been here for many years, but truth is, the company hasn't been all that good to me. Most new guys who are getting the "hang" of it are also harboring feelings of betrayal and worthlesness. Company doesn't appreciate us, we are left to ourselves.
Gee, it is nice of you to post Kim's email on an open website. I am sure it won't be long until the Spam bots have her mailbox overflowing.
I agree with nero, i just started fulltime at ohfl and let me tell you, my supervisor has issues. he's cool and all, but he will suddenly freak out and treat you like crap. today i saw how he kept on bugging a loader. he brought up meaningless details and even after being a hard day at work, he put as many people down as he could. i seriously dislike his work ethic. How far can my supervisor go in demeaning me? How far can i go in defending myself? What if i get fired?
foster1662
TB Lurker
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What do you mean by "full time" employee? are you stiil a casual employee? If I was a casual employee and was in your situation I would look in here
Workplace Rights and see if they could help, also they can protect you to some extent from getting a extra dose of Oak Harbor Love...
Workplace Rights and see if they could help, also they can protect you to some extent from getting a extra dose of Oak Harbor Love...
Well, see, OHFL Auburn has decided that it will hire70% or higher of the dock crew as part time while 20% or less will be fulltime. Every new part timer who goes over a certain amount of hours, say 30 hrs, he will be given Fridays off till he's back no where near 960+ hrs in a 6 month period. Or something like that. Several employees have been signing up for the driving course and leave the dock, therefore leaving fulltime positions open. My email exchange with Ron Kieswether was just that.
Gee, for being a Portland driver you sure know your way around the company Rolodex.I mean I've asked guys for corporate info before and even management has a hard time with that.Hmmm.MANAGER!!!!
GEE ,YOU WOULD THINK THEY COULD THINK OF A BETTER HANDLE THEN TRUCKENJOE .WITH ALL THAT MONEY INVESTED IN THAT PUNK MANAGEMENT
Hey buddy? Nice screen name. I know Jimmy can be a drama queen, brown noser, puppet, but if he's hassling you, be a man and confront him. He's probably trying to figure out who you are, 'cause that's the way he is. It's not his fault, he just does what he's told. He's a mockery of what a supervisor should be, and he'll never find out who you are 'cause he needs permission from his joke of a boss, billdo. If you want you can PM me and we'll figure out what 174 can do for you. Talk to me.
Thanks Nero. I guess I'll have to watch my back. You're right about him, but instead of trying to find out who I am, why not straighten out his relationship with the employees? Well, I guess he"ll have a hell of a time trying to find out, considering everyone out there feels the same way; no respect for a B**ch.
Oh, and everyone I have talked to has also emailed Keiswether.
I think I know that they're trying to figure me out. Not important, maybe someone in mgmnt will see that my supervisor brings his problems to work and has temper trantums. What a child. He's still a boy. How can you give respect to someone like that?
Oh, and everyone I have talked to has also emailed Keiswether.
I think I know that they're trying to figure me out. Not important, maybe someone in mgmnt will see that my supervisor brings his problems to work and has temper trantums. What a child. He's still a boy. How can you give respect to someone like that?