Employee Benefits Summary

Download Employee Benefits Summary 19KB 

Vacation

• May be taken after 6 months of permanent employment.
• Paid out at termination or retirement.
• 480 hours maximum accrual at end of fiscal year.
• Twice per year, hours over 120 may be cashed out.

Holidays

• Nine (9) per calendar year.

Floating Holidays

• 20 hours
• Issued on anniversary date the first year and then on July 1st.

Sick Leave

• Twelve (12) hours per month (1-2 days).
• 720 hours maximum accrual.
• Payoff of $1.00 per unused hour at termination or retirement.
• May convert maximum of 40 hours of sick leave to vacation each calendar year.

Retirement

• State of Alaska Public Employee Retirement System (PERS).

  All new employees who first become members on or after July 1, 2006, will be enrolled in either the Public Employees’ Retirement System (PERS) Tier IV or Teachers’ Retirement System (TRS) Tier III, Defined Contribution Retirement (DCR) Plan.

  Both the member and employer contributions go into the member’s account each pay period. Member is immediately vested in the balance of the member contributions. Member is not 100 percent vested in the employer contributions until five years of service is accrued. Listed below are the vesting requirements for the employer contributions:

  • At two years of service the member is 25 percent vested in the employer contributions.
  • At three years of service the member is 50 percent vested in the employer contributions.
  • At four years of service the member is 75 percent vested in the employer contributions.
  • At five years of service the member is 100 percent vested in the employer contributions.
  Defined Contribution Retirement (DCR) Plan Frequently Asked Questions.
  
  Introduction to DCR Plan (PDF, 256k)
  
  Overview of DCR Plan (PDF, 66k)
  
  PERS Statutes (PDF, 619k)
  
  PERS Tier Chart (PDF, 64k)
  
  
• State of Alaska Supplemental Benefit System (SBS). State plan to replace Social Security (FICA). 6.13% of gross before taxes matched by employer and is set up in an annuity account. Other life insurance may be purchased under this plan; cost varies per plan and is deducted before taxes.
• FICA. Employees hired after April 1, 1986, must participate in the Medicare portion of social security, 1.45% of gross matched by the employer.

Health

• Blue Cross of Washington and Alaska
• Employer pays 90%; employee pays 10% of monthly premium.
• $350 Calendar Year deductible per enrollee, $1050 deductible per family.
• $75 Emergency Room deductible (waived if admitted for accidental injury)
• $25 Office Visit
• $50 Dental deductible pays 80% on basic service.
• Vision - 1 exam per calendar year; $300 hardware every two years.

Life Insurance

• LifeWise (States West Life)
• Employee must be enrolled in health plan.
• $2,000 Life, $5,000 of AD & D
• Additional life insurance may be purchased, 100% employee paid.

Deferred Compensation: ICMA or Great West -- 457 Plans

• 100% employee paid; no employer contributions

Supplemental Insurance

• AFLAC
  Supplemental life insurance
  Accident
  Disability
  
• Heritage - Stedman Insurance Agency
  Supplemental life insurance
  Accident
  Disability

Employee Assistance Program

Work-related problem solving through Libby Stortz, LSCW, Neurobehavioral Consultants and Sitka Counseling and Prevention Services