SRCTec is committed to providing a comprehensive and attractive benefits package to eligible employees. Our benefits program reflects how important our employees are to the success of our organization.
Insurance Benefits
TIAA-CREF Retirement Plan
Time Away From Work
Other Great Benefits
Insurance Benefits
Medical Benefits
The SRCTec Total Care plan is a comprehensive PPO medical plan with in- and out-of-network benefits. It also includes vision and prescription plans. Eligible employees may choose benefits from a four-tier plan using pre-tax dollars. SRCTec contributes 80% of the cost of this plan. Excellus BCBS, is our third party administrator and has the knowledge to handle all claims in the most professional manner.
Dental Benefits
Eligible employees may choose from two plans that offer different levels of coverage—basic and high.
Vision
Vision benefits are available to eligible employees through SRCTec Total Care or a separate vision plan.
Employee Life Insurance
SRCTec provides a life insurance benefit equivalent to two times one's salary, and employees can elect additional coverage of one, two, three, or four times their annual salary. The combined maximum coverage amount is $1,000,000 with a guaranteed maximum of up to $800,000.
Spouse and Dependent Life Insurance
Each eligible employee may elect spouse/dependent life insurance in the following combinations: $10,000 for spouse, $4,000/child or $5,000 for spouse, $2,000/child.
Health Care Reimbursement Account
This account allows employees to direct pre-tax dollars into an account to pay for health care costs allowed by the IRS that were not covered by the employee’s insurance plan. The maximum allotment per year is $3,000.
Dependent Care Reimbursement Account
This account allows employees to direct pre-tax dollars into an account to pay for dependent care. The maximum allotment per year is $5,000.
Short Term Disability
All employees are covered under a self-funded disability program that provides between 60% and 100% (depending on years of service) of one's monthly salary in the event of an illness or disability lasting less than six months.
Long Term Disability
Eligible employees have the option, upon employment, to participate in this program. Benefits provide income of 60% of one's monthly salary in the event of an illness or disability greater than six months, and continue as long as the employee is totally disabled and under a physician's care or to Social Security retirement age. The maximum benefit is $7,500/month.
Company Travel Insurance
Each employee who travels on company business is automatically covered by an all risk travel policy that provides Accidental Death and Dismemberment coverage of $200,000.
Accidental Death and Dismemberment Insurance
A voluntary group accidental death policy is available to employees. An employee may enroll for any amount of coverage from $25,000 to $300,000, with lesser amounts of coverage available for spouses and dependents.
TIAA CREF Retirement Plan
TIAA/CREF
This is a defined contribution plan in which all employees are required to enroll upon employment. Employees defer 5% of pre-tax salary (minimum), and SRCTec contributes 10% of each employee's pre-tax salary into a 5-year delayed vesting account. Funds are invested by employee direction from a variety of options, and employees may contribute additional pre-tax money within IRS limits. The program provides several retirement payment options including age-based Lifecycle Funds.
Time Away From Work
Vacation
Employees in Pay Grade Level 2-7 will receive 15 days of vacation for the first five years of service; beyond five years, employees will earn one additional day per year to a maximum of 25 days with 15 years of service. Employees in Pay Grade Level 8-12 will receive 20 days of vacation for the first five years of service; beyond five years, employees will earn one additional day per year to a maximum of 25 days with 10 years of service. Employees in Pay Grade Level 13 will receive 25 days of vacation immediately.
Holidays
Employees are given nine paid holidays per year. Alternate days that fall later in the year may be substituted.
Sick Leave
All employees are given time off for legitimate illnesses or injuries.
Bereavement Time
In the event of death in the employee's family, SRCTec will pay up to five days of pay depending upon the family relationship.
Military Leave
An employee who is called to service in the Military Reserve will be paid the difference between the fee they receive for such service and the amount of straight time earnings lost for such service up to 8 hr/day and 40 hr/week, with a maximum of 2 weeks, unless called to active duty.
Jury Duty
An employee who is called for service as a juror will be paid the difference between the fee they receive for such services and the amount of straight time earnings lost for such services up to 8 hr/day and 40 hr/week.
Worker’s Compensation
Salary compensation for injuries incurred while at work.
Other Great Benefits
Tuition Support
SRCTec provides tuition support to eligible employees for either 12 or 18 credit hours (depending upon the course schedule of the educational institution) in an academic year for graduate and undergraduate courses.
Employee Assistance Program
All employees and their dependents are eligible to seek the professional services in this program when confronted by any personal problems. These services are strictly confidential and can be utilized on-site and after business hours.
PC Buy Program
Twice a year, SRCTec gives employees no-interest loans, which are repaid through payroll deduction, to spend on technology.