Employees are offered a choice of HMO's or a PPO. Participants in the HMO plans receive all healthcare from medical providers who participate in their plan. There are no deductibles to meet, and physician office visits, prescriptions, x-ray and lab tests, and other medical services are available with a small co-payment or no charge at all. The PPO plan provides a choice of doctors with no referrals from primary doctors. Deductibles and Coinsurance Limits apply. The PPO plan is also available to employees or employee dependents living out of the service area.
Intevac's dental plan provides 100% coverage for preventive care. Employees may choose monthly from a Dental Maintenance Organization (DMO) or Preferred Provider Organization (PPO) plan or go outside the plan (Non-PPO).
Vision care is offered for employees and their families. Benefits include vision examinations, lenses, frames, and contact lenses.
Intevac provides ten paid holidays each year. Employees also accrue Personal Time Off (PTO) at an initial rate of 18 days annually.
Employees are able to join Intevac’s 401(k) plan immediately upon employment. The company matches $.50 for every $1.00 the employee invests, with a maximum company contribution of $2,000 per year. The plan offers employees the flexibility of changing their investment choices and percentage of their payroll anytime. Employees of the age 50 or older have the option to contribute an additional “Catch-up” amount annually.
Flexible Spending Accounts enable employees to set aside tax-free dollars to pay for out-of-pocket healthcare and dependent daycare expenses.
All regular full-time employees are eligible for educational reimbursement of 100% of covered expenses, to an annual maximum of $5,000.
Basic life and AD&D (Accidental Death and Dismemberment) insurance protects employees and their dependents 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.
This supplemental plan provides coverage up to five (5) times the employee’s annual salary or $500,000 which ever is the lesser 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.
This plan allows employees to acquire shares of Intevac's common stock at semi-annual intervals through accumulated payroll deductions.
Employees may utilize Gold’s Gym at any time by presenting their company ID. There is no cost to the employee for this benefit. Employees have the option to select a gym of their choice and Intevac will reimburse up to $300 per year of the employee’s annual membership.
Ann Clark Associates (ACI) is a free confidential counseling and referral service available to all employees and their families.
Intevac provides long-term disability coverage, which becomes effective on the 91st consecutive day after disability commences.
Eligible employees are insured for two times their basic annual earnings.
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.
