PPO medical plan with in-network, out-of-network benefits, and a vision plan.
HMO medical plan with in-network benefits and a vision plan.
Comprehensive Dental Plan with orthodontics for children up to age 26 gives members the freedom to visit any licenses dentist for covered expenses. Annual maximum benefit $3,000 per member. Lifetime maximum benefit for child orthodontics is $1,000.
This plan is associated with both medical plans offered and provides eye exams and discounted eyewear.
Retirement Savings Plan (401k)
The Company offers a 401k salary savings plan with Fidelity Investments as the Trustee. Employees are able to contribute between 1% and 90% of eligible pay on a pre-tax basis (up to the IRS maximum of $18,000 for the 2017 Calendar Year) into a variety of mutual funds. Employees age 50 can contribute an extra $6,000 annually.
Discretionary employer match is $0.50 per $1.00 of employee contribution, up to a maximum of $2,000 per year. Employer matching contributions and earnings will be 100% vested following the completion of two years of service with the Company.
Group Term Basic Life Insurance
The Company provides $50,000 in Basic Life Insurance coverage at no cost to its employees.
Accidental Death & Dismemberment Insurance
The Company provides $50,000 in AD&D Insurance coverage at no cost to its employees.
Short Term Disability Insurance
The Company provides income continuation to eligible employees in the event the employee becomes disabled and is unable to work for reasons that are not work-related.
Long Term Disability Insurance
The Company provides a basic level of LTD insurance at no cost to its employees.
Voluntary Supplemental Group Life Insurance
Active employees may elect to purchase additional life insurance coverage for themself, their spouse (up to age 70), their unmarried, dependent children (under age 26).
The benefit amount is the payment made to a beneficiary when the insured passes away. Benefit amounts elected in excess of the Guaranteed Coverage Amount requires the insured to complete an Evidence of Insurability form and await carrier approval before coverage is granted. Benefits elected for Employee Voluntary Supplemental Life Insurance remain in effect after age 65, though they will reduce according to the following schedule: 65% reduction at age 70, 50% reduction at age 75. Conversion - If group life insurance coverage is reduced or ends for any reason except nonpayment of premiums, the employee can convert to an individual policy.
The Company provides its employees with a benefit of paid days off to celebrate up to eleven (13) holidays per year, determined upon date of hire. The number of holidays and dates are subject to change from year-to-year depending on their day of celebration and set by management.
The company provides its employees with a benefit of paid days off to recover from non-occupational illness or injury. No carryover or payout of unused days. Benefit prorated based on date of hire.
The company provides its employees with paid days off to take time away from work to relax and pursue special interests. Vacation is accrued on a biweekly basis and calculated based on years of service and level of position. The maximum accrued vacation hours allowed for carryover from one calendar year to the next is forty.
Tuition Assistance Program
The Company offers employees the ability to receive financial assistance towards job-related or general business-related courses. Maximum reimbursement $2,500 per year.
*This overview provides highlights of the benefits package for eligible Segway employees. Complete information regarding the benefits is provided to the employees and there may be exclusions and limitations to certain benefits. If any statement conflicts with the applicable Segway plan documents, the applicable documents will govern. Segway Inc. reserves the right to modify or terminate its benefits plans or programs at any time. Segway is an "at-will" employer.