Our Comprehensive Benefits Package Has You Covered
Employees can choose either a PPO plan or one of two HMO plans. The HMO plans require participants to receive all health care from medical providers who participate in their plan. There are no deductibles, and physician office visits, prescriptions, x-rays, lab tests, and other medical services are available for a small co- payment or no charge. The PPO plan provides a choice of doctors with no referrals from primary doctors. Deductibles and Coinsurance Limits apply.
Intevac’s dental plan provides 100% coverage for preventative care. Employees may choose monthly from a (DMO) or preferred dentist provider (PPO) dental plan or go outside the plan (Non-PPO).
VSP provides Vision Care for you and your family. Benefit includes exams, lenses, frames, and contact lenses.
CASH PROFIT SHARING
The Employee Profit Sharing Plan provides eligible employees with the opportunity to receive an annual cash bonus based upon profitability of the company in any fiscal year. Payment is made in February to eligible active employees. New employees receive a prorated bonus their first year of employment.
PAID TIME OFF
Intevac provides ten paid holidays each year. Employees also accrue Personal Time Off (PTO) at an initial rate of 18 days per year. PTO time is used for vacation, personal business, illness, family emergencies, etc.
FLEXIBLE SPENDING ACCOUNT
Flexible Spending Accounts enable the employee to set aside tax-free dollars to pay for out-of-pocket health care and dependent day care expenses. Intevac offers two accounts: 1) Health Care Reimbursement Account utilized for eligible, un-reimbursed health care expenses, and 2) Dependent Care Account – utilized for eligible dependent day care expenses.
All regular full-time employees are eligible for educational reimbursement of 100% of covered expenses, to an annual maximum of $5,000. Courses must be job related from an accredited school and approved by Intevac management.
BASIC LIFE AND AD & D
Basic life and AD&D (Accidental Death and Dismemberment) insurance protects the employee and family or beneficiary from loss of income in the event of death or dismemberment. Intevac provides the employee with life insurance coverage equal to one times their annual base salary.
ADDITIONAL LIFE INSURANCE
This supplemental plan provides coverage up to five (5) times the employee’s annual salary or $500,000 whichever is the lessor for Supplemental/AD&D life insurance. Cost of supplemental insurance is paid by the employee and varies depending upon age and rate. Employees also have the opportunity to elect Spouse Life and Child Life Insurance coverage.
LONG TERM DISABILITY
Intevac provides long-term disability coverage, which becomes effective on the 91st consecutive day after disability commences.
BUSINESS TRAVEL ACCIDENT INSURANCE
Eligible employees are insured for two times their basic annual earnings.
STOCK PURCHASE PLAN
This plan allows employees to acquire shares of the Corporation’s common stock at semi-annual intervals through accumulated payroll deductions.
Employees have the option to select a gym of their choice and Intevac will reimburse up to $300.00 per year of the employee’s annual membership.
EMPLOYEE ASSISTANCE PROGRAM (EAP)
Ann Clark Associates (ACI) is a free confidential counseling and referral service. Employee Assistance Program is available to all employees and their families.
*ASIA-BASED EMPLOYEE BENEFITS
For information about benefits, please email: email@example.com