Benefits
Overhead Door Corporation provides a comprehensive benefit package to our employees. The Company offers the following options. You may select only the optional benefits that meet your needs – so the benefits program you take home is custom-built to protect you and your family.
Core Benefits
Medical - Overhead Door's medical plans give the employee the choice between a traditional PPO plan or a consumer driven alternative PPO plan with the avaliability of an HSA account. Both medical plans provide prescription drug coverege with co-insurance as well as mail order service from participating pharmacies.
Pre-Tax Spending Accounts – The Company offers two types of spending accounts to take advantage of pre-tax benefits.
(1) Flexible Spending Account (available with PPO medical plan )- this account allows employees to set aside pre- tax money to pay for certain qualified health care and dependent care expenses. There are two accounts you can enroll in, health saving account or dependent care account.
(2) Health Savings Account (available with consumer driven health plan)-this account allows employees to set aside pre-tax dollars to pay for medical expenses up to annual deductible amounts on the consumer driven health plan.
Dental - Dental coverage is included with either medical coverage chosen with no additional contribution. Preventative care including cleanings are covered twice a year at 100%.
Disability Insurance- Company paid compensation for absence due to personal illness or injury resulting in loss of work time.
Term Life Insurance- Company paid term life insurance equal to one times your annual base salary rounded to the nearest thousand.
Accidental Death and Dismemberment (AD&D) Insurance- Provides additional compensation in the event of an accidental death or dismemberment.
Optional Group Universal Life Insurance- Additional life insurance can be purchased for you and your dependents.
Work/Life Benefits
Educational Assistance - Reimbursement for tuition, textbooks, and fees of approved job related courses or undergraduate degree programs.
MetPay– Group auto and homeowner’s insurance through payroll deduction.
Employee Purchase Programs - Company products.
Financial Benefits
Money Accumulation Plan-401(k) - May enroll at the beginning of any calendar month after completing one month of service. May invest 2% to 25% of compensation in 20+ investment options, in addition the Company matches employee contributions up to the first 6%.
Beginning in the calendar year following your hire date, the Company makes a quarterly profit sharing contribution on your behalf into the MAP which is 3% of your compensation earned for the quarter. Vesting in the Profit Sharing contributions is 40% after one year of service and 20% after each successive year of service up to five (5) years.
Retirement Plan for Hourly Employees- Company provided benefit based on your years of service and investment results.
Automatic Deposit of Payroll - Option available for automatic deposit of payroll to checking and saving accounts. Group banking services available to employees through Bank One or Community Credit Union.
Time Off Benefits
- Vacation
- Paid Holidays
- Jury Duty
- Bereavement Leave
All described benefits are offered only in accordance with the plan documents governing each respective benefit. All terms, conditions and limitations contained in the plan documents apply. Nothing shall be deemed to restrict the Company’s right to change or discontinue any benefit plan offered. Nothing shall be deemed to restrict the right of the Company or any employee to terminate any employment with the Company at will.
