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Protecting your Financial Security
Merial 401(k) Savings Plan
Employees are automatically enrolled at a 3% contribution rate from their date of hire. Participants may contribute up to 50% of basic annual earnings plus commissions on a pre- or after-tax basis, up to the allowed limit, $16,500 in 2009. Employees age 50 and over may contribute an additional amount, up to $5,500 in 2009. Merial matches 100% of the first 3% of compensation contributed by the employee and 50% of the next 3%. All Merial and employee contributions are immediately 100% vested.
Merial Cash Balance Plan
All full-time and part-time regular employees are automatically enrolled on the first of the month following employment. Merial pays all costs. Each employee accrues pay credits each pay period and semi-annual interest credits based on age and compensation level. Merial pays the credits into employee Cash Balance accounts and mails quarterly statements. Employees are vested after just three years of credited service.
Short Term Disability (STD) Plan
Salary continuation for full-time regular employees only. Merial pays all costs. Up to 13 weeks of benefits from 60% to 100% of salary based on years of Merial service.
Long Term disability Income Insurance
Provided at no cost for all full-time regular employees. The Plan pays 60% of base earnings and the previous year’s commissions to the policy limit.
Travel Assistance Program
Included in the Long Term Disability Benefit for all full-time regular employees at no cost. Coverage begins on our date of hire. Worldwide assistance for employees and family members while traveling more than 100 miles from home.
Basic Life Insurance
Provided at no cost for all regular full-time and part-time employees. Coverage begins on your date of hire. Basic Group Term Life Insurance benefit equals 2 times base annual earnings plus the previous year’s commissions (if applicable).
Basic Accidental Death & Dismemberment Insurance
Coverage begins on your date of hire for all full-time and part-time regular employees. Merial pays 100% of the costs. Benefit equals 2 times base annual earnings plus the previous year’s commissions, if applicable. Benefits for partial loss of use due to an accident are provided as well as additional benefits for use of seatbelts and airbags and education benefits for surviving children.
Additional Employee Life Insurance
Optional. Available for all full-time and part-time regular employees. Employee pays all costs. Select benefit level of 1, 2, 3 or 4 times base annual earnings plus the previous year’s commissions.
Dependent Spouse Life Insurance
Optional life insurance protection for your spouse. Employee pays all costs. Enroll for Spouse coverage up to the lesser of $200,000 or one-half of the selected Additional Employee Life Insurance amount.
Dependent Child Life Insurance
Optional. Covers all dependent children up to age 19 (age 26 for full-time students) for one low rate. Employee pays all costs.
MERIALPlus Voluntary Benefits
Group rates on optional benefits with the convenience of payroll deduction. Employee pays all costs. Customize your benefits package with Long Term Care Protection and Accident Insurance from Unum, Critical Illness Insurance from Unum Provident, Identity Theft Protection from GE, Hyatt Legal Plans, Universal Life Insurance from UnumProvident and Auto & Home Insurance from MetLife. MERIALPlus Open Enrollment is scheduled annually in the spring.
Health Care Flexible Spending Account (FSA)
An optional tax-free payroll-deduction account is available to all full-time and part-time regular employees from date of hire. Employees may enroll to set aside up to $5000 annually ($192.30 per pay period maximum) to pay for eligible unreimbursed medical and dental plan deductibles, co-pays and some over-the-counter drug costs. Applies to expenses during the plan year (14½ months). For convenience, participants can enroll for automatic reimbursement of UMR-processed medical and dental claims and for direct deposit of claim payments to a designated bank account.
Dependent Care Flexible Spending Account (FSA)
A separate tax-free payroll-deduction account is available to all full-time and part-time regular employees from date of hire. Employees may set aside up to $5,000 annually ($192.30 per day period maximum) in pre-tax dollars to pay for eligible dependent care expenses.
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