About Us - Employee Benefits

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	Employee Benefits (US-based employees)
	The following benefits summary is intended to briefly outline GTCO CalComp Corporation's employee benefits for full-time regular status employees (32 hours/week or more). It does not include specific details of the benefits, nor should it be construed as a warranty on any benefits. Group Health Care Plans The Company provides comprehensive medical and dental insurance. The cost is shared---the Company contributes 75% of the employee’s personal premium and 50% of dependent premiums. A prescription drug card is included. Group Life, Accidental Death & Dismemberment (AD&D) and Short-Term Disability (STD) Insurances Life and AD&D coverage is equal to basic annual compensation rounded up to the next higher $1,000. STD coverage is 66-2/3% of weekly compensation for up to 13 weeks. The LTD benefit is 60% of base salary up to a maximum of $5,000 per month for the duration of the disability, or until age 65. These benefits are paid for by the Company. Vacation Employees are granted 2 weeks (10 days) of paid vacation per year. After 5 years of service, employees are granted 3 weeks (15 days) of paid vacation per year. After 10 years of service, employees are granted 1 additional paid vacation day for each additional year of service, up to a maximum of 4 weeks (20 days). Sick Leave Employees are granted 5 days of paid sick leave per year. Personal Leave Employees are granted 1 day of paid personal leave per year. Holidays Employees are granted 9 paid holidays per year. Specific days observed vary from year to year. Tuition Reimbursement Employees may be eligible for 100% reimbursement of tuition cost for a maximum of (6) credit hours or $1,500 per semester (up to $3,000 per year). Courses must be directly related to the employee’s job function or future function planned for the employee by the Company. Reimbursement is granted upon successful completion of the course with a grade of "C" or better ("B" for graduate level courses). 401(k) Savings Plan Employees are eligible to join the 401(k) savings plan at any time. Plan administration is through Wachovia, with thirteen stock funds to choose from. GTCO CalComp may, in profitable years, match employee contributions dollar for dollar up to 4% of compensation. Employees are 50% vested after (2) years of service and after (3) years of service are 100% vested in the Company's match. Employee contributions are always 100% vested. Direct Deposit Employees may elect to have their paychecks deposited directly into their checking or savings account. GTCO CalComp may unilaterally, in its discretion, amend, supplement, modify or eliminate one or more of the benefits described here, or any other employee benefit, without prior notice.