Employee Benefits Highlights

Medical Insurance – Employees are eligible for health care benefits after 30 days of employment. Currently, IBJI offers two PPO plans through Great West Healthcare. Both have a lifetime benefit of $5,000,000; physician office visits are paid 100% after a $20 copayment; and, they provide a Well Care program for routine physical exams, immunizations and routine diagnostic tests (100% after a $20 copayment - $500 calendar year maximum). The first PPO (Plan 1) pays 90% for covered in-network care and 70% for covered out-of-network care, with a $500 individual deductible (in-network), $1,500 aggregate family deductible and a maximum out-of-pocket expense limit of $1,500 (in-network), $4,500 aggregate family out-of-pocket expense limit. The second PPO (Plan 2) pays 80% for covered in-network care and 60% for covered out-of-network care, with a $1,000 individual deductible (in-network), $3,000 aggregate family deductible and a maximum out-of-pocket expense limit of $2,500 (in-network), $7,500 aggregate family out-of pocket expense limit. Both plans include a Prescription Drug Card.

IBJI pays 90% of the cost of an employee’s coverage under Plan 1 and 95% under Plan 2. The employee is responsible for 100% of the cost of dependent coverage.

Profit Sharing and 401(k) – Employees become eligible after one year of employment, participation in the plan commencing on January 1 or July 1. Elective pre-tax contributions may be made by the employee up to the limits established by the federal government and employees over 50 can contribute a “catch-up” contribution as well. IBJI decides each year whether matching contributions and/or profit sharing contributions will be made on behalf of all eligible employees. The current matching contribution is $0.25 for each $1.00 the employee contributes, not to exceed $300.00 per plan year. IBJI’s profit-sharing contribution for the past few plan years has been 5% of base salary. IBJI’s matching contributions and profit sharing contributions are subject to a six-year vesting schedule.

Paid Time Off – All Vacation/Personal Accrual and Sick Days are combined into a Paid Time Off (PTO) Accrual. Accrued hours can be used after 90 days of employment. The accrual schedule for full-time employees is given below:

Part-time employees who work a regular schedule all year are eligible for vacation benefits on a pro-rata basis, based on the schedule given above. At the end of the year, employees may carry over to the following year up to 40 hours of accrued PTO, or they may be paid out for unused PTO time, or they may carryover up to 40 hours and be paid out for the remaining accrued but unused PTO.

Life Insurance and AD&D – IBJI provides $25,000 of Life and AD&D coverage for each employee ($50,000 for managers). Additional voluntary life is available in four amounts: $50,000, $100,000, $150,000 and $200,000. Voluntary coverage is also available for the spouse, if eligible, for 50% of the employee’s amounts to a maximum of $100,000. Children may be insured for $5,000 or $10.000 for a flat fee of $.39 or $.78 per pay period.

Holidays – The following six paid-holidays are observed by all IBJI offices (individual IBJI divisions may observe additional days). When certain holidays occur on a Saturday, the paid holiday is normally observed on the preceding Friday. When the holiday occurs on a Sunday, the holiday is usually observed on the following Monday:

· New Year’s Day
· Memorial Day
· Independence Day (July 4)
· Labor Day
· Thanksgiving Day
· Christmas Day

Disability Insurance – After one month of employment, all full-time employees receive Long Term Disability Insurance coverage from AIG Life Insurance Company that covers 60% of the employee’s monthly salary, up to a maximum monthly benefit of $5,000, if you suffer a disabling accident or injury on or off the job. There is a 90-day elimination period, with benefits payable for a two-year period in your own occupation and, under certain circumstances, to age 65. Employees are also eligible to purchase Short Term Disability (STD) Insurance, which covers the first 90 days of a disability. The rates for STD vary on the basis of the employee’s age and salary level.

Voluntary Dental Insurance – IBJI offers a PPO and an HMO through AIG. The cost for the various types of coverage is paid for by the employee.

Other Benefits – Among the other benefits available to the IBJI employee are the following: Flexible Spending Account plan, which enables the employee to pay up to $5,000 of dependent care expense and up to $5,200 of unreimbursed medical expense with pre-tax dollars; Transit and Parking Benefit Program; opportunity to join HealthCare Associates Credit Union or LaSalle Bank’s Workplace Direct Financial Services program; access to four of AFLAC’s voluntary insurance programs; and, the free use of LifeWorks employee assistance program, which provides 24-hour confidential consultation, personal support and referrals to community resources regarding virtually any kind of personal, family, legal, financial or job-related problem.

Note: Usually, insurance benefits are effective after 30 days of employment and employees must work a minimum of 30 hours per week to be eligible.