Employee Assistance Program - McElroy provides its
employees and all members of their household with free
access to the services of AETNA's nation wide Employee
Assistance Program Network.
Credit Union Membership - McElroy employees are
eligible for membership in the Tulsa Federal Employees
Credit Union.
Direct Deposit of Payroll - McElroy pays through direct
deposit. Employees may have their payroll deposited into
the bank or credit union account of their choice.
Mid First Company Club - Mid First Bank offers all
McElroy employees their Company Club account,
including free checking.
Chase E-funds Direct - Employees who are unable to
secure a checking account are offered an E-funds account
through Chase bank allowing them the convenience of a
debit card without a checking account.
Pre-Paid Legal - Employees may elect individual coverage
through Pre-Paid Legal with the convenience of payroll
deduction of the monthly premiums.
EMPLOYEE BENEFITS
833 N. Fulton Ave. Tulsa, OK 74115
www.mcelroy.com
This material is for informational purposes only and is neither an offer
of coverage nor advice. It contains only a partial, general description
of plan benefits or programs and does not constitute a contract.
Consult plan documents to determine governing contractual provisions,
including procedures, exclusions, limitations, qualifications, eligibility
in regard in the afore mentioned plans and offerings.
Additional Benefits
Pre-Tax Spending Accounts (Flexible Spending
Accounts) Accounts are offered for Medical and
Dependant Care expenses.
Pre-Tax Insurance Additional options are offered for
Cancer and Accident coverage.
Employee Assistance Program (EAP) - Employees
and families have free access to the services of AETNA's
nationwide Employee Assistance Program Network.
Pre-Paid Legal - Employees may elect individual
coverage through Pre-Paid Legal with the convenience of
payroll deduction of the monthly premiums.
Credit Union Membership - McElroy employees are
eligible for membership in the Tulsa Federal Employees
Credit Union. Savings Account Deposits can be made
through payroll deduction.
Direct Deposit of Payroll - McElroy pays through
direct deposit into the bank or credit union account of
the employees choice.
Mid First Company Club - Mid First Bank offers all
McElroy employee's their Company Club account,
including free checking.
Chase E-funds Direct - Employees who are unable to
secure a checking account are offered an E-funds
account through Chase bank allowing them the
convenience of a debit card without a checking account.
Education Reimbursement - McElroy reimburses
Education Expenses up to $5,000 per year.
Coming in 2006! On-site Employee Work-out Facility
Most people seek employment to secure
income and benefits for themselves and
their families. McElroy is proud of the
compensation system and benefits
package we offer to our employees.
McElroy shares its profits with
employees in many ways:
Monthly Gain Sharing
Annual 401(k) Match
Annual Profit Share contribution to 401(k)
Annual Profit Sharing Check
McElroy offers the following benefits:
Health Insurance
Life Insurance
Disability00ong & Short Term
401(k) Retirement Plan
Pre-Tax Insurance
Direct Deposit of Payroll
Prepaid Legal
Paid Vacation & Holidays
Paid Sick/Personal Time
Education Reimbursement
Benefits of Employment
Paid Vacation - 2 weeks of vacation through 6
years, 3 weeks of vacation through 16 years, 4 weeks
of vacation thereafter.
Paid Sick/Personal Time - 40 hours of paid time
each year to use when illness or personal circumstance
cause time away from work.
Paid Holidays - 9 paid holidays; New Years Day,
Good Friday, Memorial Day, Independence Day,
Labor Day, Thanksgiving Day, Friday following
Thanksgiving Day, Christmas Eve, and Christmas Day.
Life Insurance - $10,000 in coverage is paid for by
the Company. Employees may purchase additional life
insurance coverage for themselves and their family
members.
Disability Insurance - McElroy offers two optional
Disability Insurance policies.
1. The "Short Term" Disability Plan covers employees
who become disabled due to a non-work-related
circumstance and pays a weekly benefit for up to
the 26th week of disability.
2. The "Long Term" Disability Plan covers employees
who are disabled for 27 or more weeks, the plan
pays a monthly benefit beginning with the 27th week
of disability and may continue until retirement age.
Health Insurance - McElroy offers an AETNA PPO
plan with very competitive monthly premiums
(available on a pre-tax basis):
Employee Only
$70/month
Employee plus Child/Children $110/month
Employee plus Spouse
$140/month
Employee plus Family
$190/month
The plan offers a large nationwide network of
providers, 100% coverage of preventative care
80/20 coverage of medical expenses after the
plan year deductible is met
Rx co-pays are provided after the plan year
deductible is met
Health Savings Account (HSA) - McElroy's
Health Insurance Plan includes an HSA for each
participant. Our insurance is a high deductible plan,
to offset this expense each covered employee is
provided with an HSA to which they may make pre-tax
contributions.
The money is fully accessible to the employee
with a debit card
The account balance is fully transportable if the
employee should ever leave McElroy
Gain Sharing through Incentive Units
All salaried employees participate in the gain
sharing plan from hire. All salaried employees have
a base monthly pay rate of $1975, the balance of
their monthly compensation is paid in Incentive
Units. Incentive Unit (IU) Value = $1.00 per
$100,000 of monthly shipments (goods only -
excluding freight and taxes).
Example: A salaried employee earning $2,500 per
month (30K annually) would earn $1975 per month
plus earnings on 18 IUs. Shipment values for each
month's shipments are paid in IUs on the following
month's payroll. In months where the Company's
shipments meet or exceed baseline sales
expectations, the employee's earnings will exceed
those he/she would have had at the original
$2,500 monthly salary.
All hourly employees participate in the gain sharing
plan after 6 months of employment. The employee
elects his/her level of participation (the minimum
participation level is 5%). Hourly employees
exchange a percentage of hourly earnings for a
share in the Company's monthly shipment dollars.
Incentive Unit (IU) Value = $1.00 per $100,000.00
of monthly shipments.
Example: An employee earning $8.91 per hour,
selecting the minimum participation level of 5%
would earn $8.485 per hour plus earnings on 4 IUs.
Shipment values for each month's shipments are paid
in IUs on the following month's payrolls. In months
where the Company's shipments meet or exceed
baseline sales expectations, the employees' earnings
will exceed those he/she would have had at the
original $8.91 rate of pay.
As McElroy's shipment levels increase over time, so
does each employee's earning potential. The employee
hired at a salary of 30K in the year 2000 would be
earning 32K at the end of 2005 solely as a result of
increased shipment levels.
Annual 401(k) Match - Administered by Bank of
Oklahoma, McElroy provides its employees an
opportunity to save for retirement and offers to match
the employees' contribution. In 2004 McElroy matched
100% of employee contributions at a rate of 38%.
Annual Profit Share Contribution to 401(k) -
McElroy also makes a profit share contribution to
employee 401(k) accounts in an amount equal to 3% of
the employee's regular and overtime earnings.
Annual Profit Sharing Check - McElroy shares its
profits with eligible employees each November.
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