Benefits
MWEC - Benefit Summary for 2023:
In order to be eligible for MWEC benefits you must work a minimum of 1,000 hours in a one year period.
Benefits that you may immediately participate in:
- MWEC Blue Cross-Blue Shield health, dental and vision plans
- Vacation accrual
- Sick day accrual
- Life insurance
- Disability insurance
Benefits that you are eligible for with the first paycheck after your 1 year anniversary:
- Participation in our 401k program
- Participation in our NRECA Retirement and Security Program (pension) program
- The eligibility date is one year from your official starting date
Benefit Summary
- This benefit starts with the first paycheck after your 1 year anniversary.
- For employees hired BEFORE July 1, 2008 -MWEC pays a 2% base contribution to your 401k regardless if you contribute or not.
- For employees hired AFTER July 1, 2008 - MWEC pays an 8% base contribution to your 401k regardless if you contribute or not.
- MWEC will match up to a 2% contribution by an employee to their 401k.
- This benefit starts with the first paycheck after your 1 year anniversary.
- MWEC pays 100% of the premium for the NRECA Retirement and Security Program.
- Employee is eligible for full retirement benefits after 31 years of employment or age 62 whichever comes first.
- Retirement Calculation is as follows:
- (Average salary from highest 5 years out of your last 10 years of employment) X (years of employment) X (retirement factor which is .01) = Yearly Retirement Benefit
- This benefit starts immediately.
- MWEC offers the Blue Cross/Blue Shield Blue Saver 3000 100.
- Includes Medical, Dental and Vision plans.
- MWEC pays 90% of the premium; Employee responsible for 10%.
- For 2023 - MWEC will contribute to an employee's HSA the below designated amount (brokenout into 12 month instalments) to every employee who is on the below defined plan.
- This benefit starts immediately.
- MWEC pays premium on Life Insurance policy valued at 3 times the employee’s annual salary.
- Employee can purchase additional Life Insurance through NRECA up to 5 times their annual salary.
- MWEC pays half the premium on a $25,000 policy for the employee’s spouse.
- MWEC pays half the premium on a $10,000 policy for all employee children.
- MWEC pays full premium on a 1 X salary Accidental Death and Dismemberment policy.
- This benefit starts immediately.
- MWEC pays full premium on Short Term Disability which starts after 1 week of illness and goes to 13 weeks. Pay is up to $300 per week.
- MWEC pays half the premium on Long Term Disability which starts after 13 weeks, pays 2/3 of employee’s salary.
- This benefit starts immediately.
- MWEC offers paid vacation
- Employees may accumulate up to 40 days/320 hours of vacation time.
- Vacation is accrued as follows:
-
0 – 5 years
8 hours/month
6 - 10 years
10 hours/month
11- 15 years
12 hours/month
16 -19 years
14 hours/month
20 years & Over
16 hours/month
- Any employee who carries over 40 days/320 hours of vacation, and has 20 or more years of service, will be required to take 5 consecutive days off within 6 months.
- This benefit starts immediately.
- MWEC offers paid sick leave.
- Leave is accumulated at 8 hours per month up to a maximum of 1,440 hours.
- MWEC will pay $500 per year for sick leave forfeited after the 1,440 hour maximum is reached.
- This benefit starts immediately.
- MWEC has the following paid holidays:
New Years Day |
Veterans Day |
Good Friday |
Thanksgiving Day |
Memorial Day |
Christmas Day |
Independence Day |
Employees Birthday |
Labor Day |
1 Floating Holiday |
Note: The MWEC benefit package is subject to change at any time.