Full-time employees are eligible for the Company’s benefit plans after 30 days of full-time employment.
The 401(k) retirement plan is open to all employees age 21 and over, after 1,000 hours employment.
Eligible dependents of full-time employees include your legal spouse and children up to age 26. The definition of “child” includes any of the following:
Note: Newly married or divorced? Just had a baby? These events change your benefit eligibility. See the Life Event Benefit Changes page for more details.
The scenarios below explain changes and benefit-related tasks that need to be completed when your employment status changes.
Employees who have health coverage will be covered through the end of the last day of their full-time employment. For example, if your last day as a full-time employee is January 15, coverage would end at midnight on January 15. You will receive a letter regarding setting up optional COBRA coverage shortly after your employment terminates.
The funds in these accounts are yours, but you may be responsible for account maintenance fees. You are free to transfer or rollover these funds within the limitations of the account type and IRS regulations. Other rules or limitations may apply.
Most other benefits will also terminate on your last day of full time employment. You will be notified by mail with instructions for any benefits that have an option for continuation at your own expense.