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Cost Management Incentives
Benefits:
Welcome to Cost Management Incentives, Inc. As an employee, it’s important for you to be aware of the benefits we offer, as Cost Management is responsible for your payroll and benefits management. Even though you may be performing services at one or more client companies, Cost Management is your employer and should be recognized as such for employee benefit purposes, workers’ compensation injuries, and other such matters.
The following is a summary of our current benefits package and payroll information. For the purposes of this summary, the term “active employee” means an individual who is working for Cost Management and performing services at one or more of Cost Management’s client companies. If you have any questions regarding any of the information contained in this summary, please call us directly.
Please be advised
that Cost Management has the right to terminate and/or modify any or all
employee benefits or programs, at any time and from time to time, without prior
notice to or consent of any of its employees.
Life Insurance: Regardless of whether you participate in Cost Management’s group medical insurance plan, described below, so long as you are an active employee of Cost Management, life insurance in the amount of $15,000.00 is provided to you at no charge, upon your completion of a life insurance application.
Direct Deposit: Cost Management’s payroll is done electronically, therefore, your weekly paycheck is directly deposited into up to 3 different checking or savings accounts specified by you. You will also be able to view your pay stubs on-line weekly – no more paper check / check stubs will be sent to your home.
401(k): So long as you are an active employee, you may elect to defer a percentage of your compensation each year to Cost Management’s 401(k) plan. Your total deferrals in any taxable year may not exceed a dollar limit which is set by law. You are eligible to participate in the 401(k) plan from your start date with Cost Management.
529 College Savings Program: So long as you are an active employee you may contribute tax-deferred earnings to your account, with a minimum of $50 per month. The contributions can be used for higher education by you or your children at any U.S. institution.
Health Care: While you are an active employee, you may be eligible to participate in Cost Management’s group health/medical insurance, presently provided through Oxford/United Healthcare. So long as you are an active employee, we will continue to make a contribution towards your monthly premium. If you elect to participate in the group plan, please call us directly for information on premiums and enrollment. You must work a minimum of 30 hours a week to be eligible for this benefit. If you are eligible to participate, the effective date of coverage is your date of hire.
AFLAC: Cost Management offers personal disability insurance, term life insurance, and a personal cancer indemnity plan through AFLAC for all active employees. These plans are completely voluntary, and you may enroll in them at any time. You will be responsible for the payment of all premiums for all such coverage, of which will be withheld via weekly payroll deduction. Materials describing these plans will be emailed to you upon your start date.
Direct Dental Reimbursement Plan: After you have worked 560 hours in a year, and so long as you are an active employee, you are eligible for reimbursement of dental expenses incurred by you and/or your family members during such year, up to a maximum of $500.00 in the aggregate. Simply provide us with your paid dental bills and we will reimburse you directly.
Referral:
You will be eligible to receive a referral fee, for
every individual referred by you for employment with Cost Management, if that
individual is not currently an active candidate of Cost Management’s, and (i) if
the candidate is employed by Cost Management within twelve (12) months following
the date of such referral, and (ii) works a minimum of 480 hours as an employee
of Cost Management, or takes a headcount position at one of Cost Management’s
Clients. The amount of such referral bonus is $1,000.00 if you are an active
Cost Management employee, or $500.00 if you are not a current employee of Cost
Management’s.
Paid Vacation Time: You will earn .04 vacation hours for each hour worked by you as an employee of Cost Management.. Although you may take vacation days as soon as you have accrued them, you may be required to schedule your vacation time with the consent of the client company for whom you are then providing services. Please note that if you have unused accrued vacation time at the time your employment with Cost Management terminates, other than a termination for cause, Cost Management will pay you for all such accrued time. However, please note that this time will be paid to you in no more than 15 hour per week increments.
Paid Holiday Time: You will accrue paid holiday time at the rate of .02 hours for each hour worked by you as an employee of Cost Management. Accrued paid holiday time can be used by you for any holiday (e.g. Christmas, Thanksgiving, 4th of July) with respect to which the client company at which you are providing services is closed for business.
A WORD ABOUT PAY AND HOURS:
Your work hours must be recorded on the time sheet form we have provided, unless otherwise provided in any contract between you and Cost Management. Cost Management Incentives will withhold all amounts required to be withheld from your pay under applicable federal, state and/or local law. If at any time you believe there is an error in your paycheck, please notify us immediately.
We at Cost Management take pride in doing our best to serve you in the most expeditious and conscientious manner. As an equal opportunity employer, Cost Management Incentives does not discriminate on the basis of race, religion, color, national origin, sex, marital status, disability, or age.
We hope this information has helped to clarify our benefits program. Again, welcome to Cost Management Incentives!