At Security Finance, providing a positive and rewarding work environment is an integral part of our corporate mission. To support our employees in achieving good health, well-being, and personal effectiveness, we offer a comprehensive benefits package.  All full-time employees are eligible to participate in the following programs, some at no cost to the employee.


Group Health Insurance

The Company currently offers a medical plan to all full-time regular employees through a self-insured plan.  Coverage is effective on the first day of the month following sixty (60) days of employment.  The employee must be on the regular payroll of the employer for that work. Temporary employees are excluded from the Plan.  

Under the medical plan, most procedures are covered at 80% after satisfying a $500 deductible when using a network provider.  If your family doctor, pediatrician, or gynecologist is a network provider, wellness visits are covered at 100% with no deductible applied. 


This insurance is elective.


Prescription Drug Coverage

Employees are subject to the same eligibility and effective date provisions as described in the Group Health Insurance section.  Under this plan, the employee pays $10 for generic drugs, $30 for preferred brand drugs, and $50 for non-preferred brand drugs.  Employees are responsible for 20% of the cost of specialty drugs.

A mail order program is also available for maintenance type prescriptions.  The price for a 90-day supply using the mail order program is $25 for generic drugs, $75 for preferred brand drugs, and $125 for non-preferred brand drugs. Employees are responsible for 20% of the cost of specialty drugs. 


This insurance is elective.


Group Dental Insurance

The Company currently offers dental insurance to all eligible employees.  Employees are subject to the same eligibility and effective date provisions as described in the Group Health Insurance section.   Preventive coverage is payable at 100% without a deductible, basic coverage is payable at 80%, and major services are covered at 50%.  There is a $25 per year deductible for all basic and major services. 

 

This insurance is elective.


Group Life Insurance

The Company provides life insurance to all full-time regular employees beginning at the $10,000 level and increasing to $25,000 for managers.  An employee is eligible for coverage after the completion of a waiting period of ninety (90) consecutive days.  The effective date of coverage is the first day of the month following the ninety (90) day waiting period.  This coverage also provides AD&D insurance equal to the amounts noted above. 


Optional Life Insurance

The Company currently offers optional life insurance to all eligible employees.  This coverage also provides AD&D insurance equal to the optional life insurance amount elected.  Any employee electing coverage has the option to purchase dependent coverage.  Employees are subject to the same eligibility and effective date provisions as described in the Group Life Insurance section. 


This insurance is elective.


Short-Term/Long-Term Disability

The Company currently offers short-term/long-term disability insurance to all eligible employees.  Employees are subject to the same eligibility and effective date provisions as described in the Group Life Insurance section.  The Company pays one-half (½) of the premiums for this coverage.  The employee’s portion of this premium will be payroll deducted.  There is a thirty (30) day waiting period for benefits under the short-term disability plan for an approved claim.  There is a one hundred-eighty (180) day waiting period for benefits paid under the long-term disability plan for an approved claim.  Benefits for short-term disability are calculated at 60% of pre-disability earnings with a weekly maximum benefit of $1,000.  Benefits for long-term disability are calculated at 60% of your pre-disability earnings with a maximum monthly benefit of $7,500.  

 

This insurance is elective.


Retirement Plan

The  following summary is a brief description of the Plan.    It is not meant to interpret, extend or change the Plan document in any way.    If you have any questions about this summary, please refer to the Plans Summary Plan Description (SPD) or contact the Plan Administrator.    Also, a copy of the Plan document is on file with the Plan Administrator and may be reviewed by any employee at any reasonable time.   The Plan document shall govern in the event of any discrepancy between this summary or the SPD and the actual provisions of the Plan.


Profit Sharing

An employee must be 18 years of age and have worked 1,000 hours during a year of service to become eligible for the Company Profit Sharing Plan and will enter the Plan on the earliest of January 1 or July 1 after meeting the eligibility requirements.    Once you become eligible for the Company Profit Sharing Plan, you must be credited with 1,000 hours of service during the Plan Year and be employed on the last day of the Plan Year to be eligible for the profit sharing contribution and forfeiture allocation for that year.   Effective January 1, 2007, active employees will be vested after three (3) years of service.    A year of service for vesting purposes is a plan year in which the employee has completed at least 1,000 hours of service.


401(K) / Roth 401(k)

An employee must be 18 years old and have worked 1,000 hours during a year of service to be eligible to enroll in the 401(k) / Roth 401(k) Plan.    An account is maintained for each participant and you may contribute from 1% to 75% of your gross pay and the Company will match monthly the amount of your contribution dollar-for-dollar up to 3% of your gross pay.    The Company will match 50% of the next 2% of your gross pay.


Christmas Club

A Christmas Club Savings Plan is available to all active full time/part time employees hired before December 1st of each calendar year. Open Enrollment will be held each December. Employees hired on or after December 1st will be eligible to enroll the following calendar year. Bi-weekly deductions begin in January on the first check of each year.  Employees may request a withdrawal for the full balance at any time during the year, at which time all club deductions will be stopped.  Partial amounts may not be withdrawn.  All requests for early Christmas Club withdrawals will be paid on the next regular paycheck. Separate checks will not be issued. Christmas Club payout will occur on the first check in November.


Thrift Club

The Company Thrift Club was organized for the mutual benefit of all employees and other participants, for the purpose of encouraging thrift by means of systematic savings.    Any employee of the Company that has been employed continuously for six (6) months is eligible for membership.    Other eligible persons are outside directors, and the spouse, child, or parent of an eligible employee.    Interest will be posted to individual accounts semi-annually on June 30 and December 31.    Please refer to the current Thrift Club Account Booklet for information on rates and eligibility. Your supervisor can provide information on enrollment.

 

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