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Benefits at NEC-Mitsubishi

NMD-A is pleased to offer employees a comprehensive benefits package. It is with our employees’ health, well-being, and security in mind that we make these programs available to them. While employees share in the cost of medical and dental premiums on a pre-tax basis, most other benefit coverages are provided at no cost to employees. Regular full-time and part-time employees normally scheduled to work at least 25 hours per week are eligible for benefits. Coverage for most benefits is effective from the date of hire with no waiting period.

Medical Benefits

Employees may elect coverage for themselves and their eligible dependents through a Preferred Provider Organization (PPO) or, for Illinois residents, a Health Maintenance Organization (HMO). The PPO pays 90% of most eligible expenses after an annual deductible. In addition to hospital and surgical benefits, this plan offers preventative/wellness care, prescription drug benefits, and vision care. The HMO pays 100% of most services, after a $5 copayment.

Dental Benefits

The Dental Benefit Program pays 100% of preventive and general care expenses and 80% for basic care expenses such as fillings. Other services are covered at 50% up to the annual plan maximum.

Life Insurance and Accidental Death and Dismemberment Income

Employees automatically receive three times their pay in company-provided life insurance and three times eligible pay in accidental death and dismemberment insurance. In addition, they may purchase supplemental life insurance up to three times their salary. Dependent life insurance is also available.

Business Travel Accident

This insurance provides a benefit of $250,000 in the event of loss of life, or limb while traveling on Company business.

Short Term/Long Term Disability

Our plans provide significant protection (100% of salary up to first 30 days, 66 2/3% of eligible pay thereafter) against loss of income in cases of illness or injury.

Health Care Reimbursement Account/Dependent Care Reimbursement Account

These accounts offer our employees the opportunity to set aside pre-tax dollars to pay for unreimbursed health and dependent care eligible expenses.

Retirement Plan

Employees have the opportunity to participate in a Retirement Plan that allows them to contribute up to 60% of their salary on a pre-tax basis; the Company will match 50% of the first 5% saved. In addition, the Company will make an annual contribution equal to 5% of eligible plan-year compensation to an employee’s retirement plan account.

Vacation/Time Off

Employees accrue vacation on a monthly basis, equaling two weeks in their first year, and adding an additional day each year up to a maximum of 20 days. In addition, employees can take advantage of 11 paid holidays a year.

Education Reimbursement

NMD-A supports an employee’s educational pursuits. For pre-approved courses or degree programs, the Company pays 100% of tuition plus a stipend for books. This benefit is effective from the first day of employment.

Employee Assistance Program (EAP)

The EAP is designed to help people deal with and resolve problems at work or at home such as financial concerns, emotional distress or major life changes. Confidential help and assistance is available free of charge to all employees and their family members. A child/elder care resource referral service is also available through the EAP.

Metpay

Through MetLife Insurance, employees have the opportunity to purchase personal property insurance (i.e. car or home insurance) at special group rates.

Smoking Cessation Program

The Company will reimburse employees for the cost of an approved smoking cessation program, less taxes, up to a maximum of $200.

 

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