BENEFITS
Concepts NREC is pleased to provide a highly competitive and progressive benefits program for all full-time employees. We fully believe in the value of a strong benefits package for all staff members and strive to provide a program of benefits which will attract and retain the best individuals available both nationally and regionally.
VACATIONS
Vacation accrual starts from the first day of employment. After
one year, a new full-time employee has accrued, and is eligible
for, two weeks of vacation per year. After five years, employees
are eligible for three weeks of vacation per year. After 15 years,
employees are eligible for four weeks of vacation per year. With
the approval of the employee's supervisor and Human Resources,
a new employee may take one week's vacation after six months.
No more than one full year's worth of accrued vacation time (two,
three or four weeks) may be carried over from one year to the
next without special advance approval.
HOLIDAYS
Eleven paid holiday days are provided each year: New Year's Day,
Memorial Day, Independence Day (July 4), Labor Day, Thanksgiving
and the day after Thanksgiving, Christmas, and four floating holidays.
Holidays are subject to change. A list of dates which will be
considered holidays during the year is published in December of
the previous year and also appears on the vacation schedule sheet.
SICK DAYS
There is no set number (limitation) of sick days specified on
an annual basis. Concepts NREC's policy is to encourage employees
who are sick to absent themselves from work until they are better.
However, any employee who accumulates 32 hours of undocumented
sick time in a calendar year must provide evidence (documentation)
for additional sick time over and above the 32 hours, in order
to be paid for the time absent from work. This company policy
encourages employees to be responsible about illnesses, including
timely treatments, without restricting the availability of sick
time. Illnesses of an extended nature are covered under the company's
short-term and long-term disability coverage.
HEALTH, DENTAL AND LIFE INSURANCE
Comprehensive health insurance, is available to employees and
their dependents under a Preferred Provider Organization (PPO)
system of in-network, and out-of-network, providers. Single, two-person,
and family levels of coverage are available. The health and dental
insurance administrator is Comprehensive Benefits Administrators,
Inc. The plan also includes a prescription card. See the attached
sheet for a summary of medical benefits. Life insurance equal
to one-times annual salary (minimum $50,000 coverage) and Accidental
Death and Dismemberment Insurance are provided at the company's
expense.
FLEXIBLE SPENDING ACCOUNT (FSA)
Concepts NREC makes available to employees a plan whereby the
employee can set aside (via payroll deduction) pre-tax money which
can then be used to reimburse the employee for payments for uncovered
medical expenses, such as deductibles, co-payments and dental
or eye care expenses, or dependent care expenses. A maximum of
$3000/year can be set aside for medical cost reimbursement and
proof of payment is required for reimbursement. There is a six-month
waiting period for new employees before they can enroll into the
medical portion of the plan. The plan may also be used for dependent
care expenses with a maximum of $5,000/year set aside for this
purpose. There is no waiting period for the dependent care portion
of the FSA.
SHORT-TERM DISABILITY
If an employee is out for an extended illness (not job related),
such as pneumonia, shingles, heart attack, etc., the employee
will receive compensation for a period of up to 180 days. The
employee would first be required use his/her accrued vacation;
after that time, the company will pay the employee at the rate
of 66 2/3 of the employee's base salary. STD is fully company
paid.
LONG-TERM DISABILITY
On the 181st day of an extended illness, the LTD insurance will
pick up if the employee is not fully recovered. Coverage is 66
2/3 of the employee's base salary. The premium for LTD is fully
company-paid.
WORKER'S COMPENSATION INSURANCE
As required by law, Concepts NREC carries appropriate worker's
compensation insurance for job-related injuries or accidents.
Worker's Compensation coverage is fully company-paid.
EMPLOYEE ASSISTANCE PROGRAM
Concepts NREC provides an Employee Assistance Program (EAP) whereby
employees have access to mental health care providers and other
professionals in times of personal or professional stress. Assistance
for a wide variety of needs can be accessed through this program,
including telephone, on-line, and face-to-face counseling.
PROFIT SHARING/BONUSES
During the first quarter of each year, Concepts NREC's upper management
and Board of Directors determine profit sharing availability and
bonuses based on the company's financial health. Historically,
the company has provided profit sharing and bonuses to a majority
of employees on an annual basis, paid out in the first quarter
of the following year. Bonuses are merit based. Profit sharing
funds are contributed to, and distributed within, the retirement
trust account based on employee's length of service and compensation
levels. Profit sharing and company matching funds (see the 401K
section) are subject to a six-year vesting schedule.
401(k) (RETIREMENT) PLAN
Employees may participate in the 401(k) retirement plan on the
first allowable date following six months of employment. Allowable
dates are January 1, April 1, July 1, and October 1. Subject to
government annual limits, employees may contribute up to 60% of
gross income to the plan, and Concepts NREC has historically matched
the first 10% of employee contributions at 50% to 65% (check for
the current level). Employee contributions are made through payroll
deduction. This deduction is subject to FICA tax, but not state
or federal tax. Company profit sharing and matching funds are
subject to a six-year vesting schedule. After two years, 20% of
the company funds contributed to the individual's plan become
vested with the employee. Thereafter, each year the employee becomes
vested in an additional 20% until after six years the employee
is 100% (fully) vested. The employee presently has 11 fund choices
from which to choose, plus on-line and 800# up-to-date account
information available.
EDUCATIONAL REIMBURSEMENT
Employees are strongly encouraged to pursue educational opportunities
that will enable them to perform their jobs more effectively.
Concepts NREC reimburses educational costs, within minimal guidelines,
at all educational levels, including degree programs. Supervisors
are encouraged to search out and recommend opportunities for employees
to improve or grow. These opportunities, if recommended by a supervisor
and approved, are paid for directly by the company at 100%. In
addition, the company provides internal training opportunities
for staff members at both special staff training sessions and
Concepts NREC courses. Finally, membership in professional organizations
is encouraged with the company paying for memberships, with limited
restrictions.
MOVING EXPENSES
Moving expenses are paid on a case-by-case basis for salaried
employees who are moving in order to take a position with the
company. HR reviews moving cost quotations and may set limitations
on total funding or specific items being moved, however the basic
philosophy is for Concepts NREC to pay all normal moving expenses
for the employee who moves within 30 miles of their working location.
In addition, in unusual circumstances where the company has created
additional expenses by requiring an individual to move into the
area ahead of schedule, the company will contribute towards the
cost of temporary housing, storage, and other living expenses
until such time an employee and his/her family are settled in
the area (generally limited to three months). Some moving reimbursements
are considered taxable income for the employee, so check with
the finance office and your tax advisor for tax implications.
EMPLOYEE REFERRAL PROGRAM
Employees who refer candidates to Human Resources for employment
are eligible for a $1000 bonus. This bonus is payable if the referred
candidate is hired by the company and remains employed for a minimum
of 90 days.
RECOGNITION AWARDS
Staff members are eligible for numerous staff awards through a
nomination process. Awards are in the form of cash and certificates
and recognize varying degrees of achievement including extraordinary
effort, patents, academic degrees, authoring and presenting professional
papers, and winning or leading special contracts/projects.
AUTOMATIC DEPOSIT
Automatic deposit is available for all employees through the Finance
Office.
