Benefits

MWEC - Benefit Summary

In order to be eligible for MWEC benefits you must work a minimum of 1000 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.
• MWEC pays a 2% 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.
• Includes Medical, Dental and Vision plans.
• MWEC pays 2 - $100 deductibles for medical insurance for any family member or combination.
• MWEC pays 2 - $50 deductibles for dental insurance for any family member or combination.
• MWEC pays 90% of the premium, employee responsible for 10%. 

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 twice the annual accrual before it is forfeited.
• Vacation is accrued as follows:

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.

Holiday Pay

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