Insurance Benefits
Health Insurance – We offer major medical coverage to all full time employees through a self-insured plan administered by Cigna. Our full package includes:
- Dental Insurance
- Vision Insurance
- Life Insurance
- Supplemental Life
- Long-Term Disability
- Short-Term Disability Insurance
- Sick Leave/Extended Sick Leave
Open Access Plus option – At no additional charge, Cigna pays maximum benefits when employees and dependents use network physicians and medical facilities. This option requires a modest co-payment, but eliminates deductibles, coinsurance and claim forms.
Retirement and Savings Benefits
Profit Sharing and Retirement Plan – All full time employees are eligible to participate in our Profit Sharing and Retirement Plan after completing one full calendar quarter of employment.
- Each year, Union Standard contributes to the plan a minimum of 5 percent of eligible salary; company profits determine how much more than 5% is contributed.
- 60 percent of the designated amount goes into a Profit Sharing account and 40 percent goes to a 401K company account.
- The Profit Sharing portion is fully vested in 6 years.
- The 401K portion is vested immediately and requires no voluntary contribution.
401K Savings Plan – All employees eligible for the Profit Sharing Plan also may participate in our voluntary 401K savings plan. Plan features:
- Employees may set aside up to 16 percent (or the then-current federal maximum) of gross income and defer paying federal and state income taxes on contributions and earnings until retirement.
- Personal loans are available through the plan, subject to federal regulations.
- Employees eligible to participate after completing one full calendar quarter of employment.
- Employees may manage accounts online or via a toll-free number.
Tax-Qualified Medical and Dependent Care Plan – Union Standard provides a Section 125 plan that allows employees to pay for eligible medical and dependent care expenses – such as amounts excluded by insurance deductibles – with pre-tax dollars, which reduces the amount of income taxes paid. Enrollment is in December for expenses planned the following year. Employees determine contributions, subject to federal regulations.
Employee Assistance Program – Union Standard recognizes that a wide range of personal issues not directly associated with job functions may affect job performance. In many instances, employees and family members may overcome these personal situations independently with little or no effect on performance. However, counseling assistance may be needed for some. All employees are eligible for such services through the Employee Advisory Resource (EAR), or Lifeworks. These services are offered in strict confidentiality and in no way affect job security.
