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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.

 

 

 

Select Choice 100

Blue Saver 100 2800

Cost = Vision+Dental+Medical

Total Monthly Premium

Employee Monthly Cost

Total Monthly Premium

Employee Monthly Cost

MWEC        HSA   Contribution   Yearly

Family Plan

$1,803.31

$180.33

$1,571.85

$157.19

$2,499.77

Single + Dependents

$1,269.07

$126.91

$1,112.31

$111.23

$1,693.01

Single

$695.10

$69.51

$605.98

$60.60

$962.50

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:

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.                                                                                                                                                

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:

 

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.

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