Benefits

MWEC - Benefit Summary for 2020

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

401k

• 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.                                                                                                                                               

R&S

• 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

Blue Cross/Blue Shield

• This benefit starts immediately.
• MWEC offers the Blue Cross/Blue Shield Select Choice 100 Plan or Blue Cross/Blue Shield Blue Saver 100 2800.
• Includes Medical, Dental and Vision plans.
• MWEC pays 90% of the premium; Employee responsible for 10%. 
• For 2020 - MWEC will put the difference in 90% of the premium between the Select Choice 100 Plan and the Blue Saver 100 2800 Plan into a Health Savings Account for employees who choose the Blue Saver 100 2800 Plan.

Life Insurance                                                            

• 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.

Disability Insurance

• 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.

Vacation Pay

• 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:

• 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.                                                                                                                                                

Sick Pay

• 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.

Holiday Pay

• This benefit starts immediately.
• MWEC has the following paid holidays:

Note: The MWEC benefit package is subject to change at any time.