ISL Employee Benefits Summary

ISL is pleased to offer eligible employees and eligible family members an employee benefits package that is comprehensive and among the best available. This Summary of Benefits is designed to provide accurate information in regard to the policy provisions outlined, but it is not intended nor should it be considered fully detailed.

Medical & Dental Insurance

  • Effective - date of hire
  • Eligibility – employees who work a minimum of 20 hours per week
  • Carrier – CareFirst Blue Cross Blue Shield (PPO) / Dental - Metlife.

Flexible Spending Accounts

  • Effective – first of the month following three months of employment
  • Eligibility – employees who work a minimum of 20 hours per week
  • Plan Administrator – Wage Works
  • Employees may contribute a maximum of $5,000 per year to both the Health Care Spending Account, and the Dependent Care Spending Account.

Short-term Disability

  • Effective – date of hire
  • Eligibility – employees who work a minimum of 20 hours per week
  • Carrier – Mutual of Omaha
  • Benefit – 60% of base pay, up to a maximum benefit of $1,500 per week
  • No cost to employee

Long-term disability

  • Effective – begins after 90 days of total disability
  • Eligibility – employees who work a minimum of 20 hours per week
  • Carrier – Mutual of Omaha
  • Benefit – 60% of base pay, up to a maximum benefit of $15,000 per month
  • No cost to employee

Life Insurance/Accidental Death and Dismemberment

  • Effective – date of hire
  • Eligibility – employees who work a minimum of 20 hours per week
  • Carrier – Mutual of Omaha
  • Benefit – 3 times annual salary up to a maximum benefit of $200,000
  • No cost to employee

Employee Assistance Program (EAP)

  • Effective – date of hire
  • Eligibility – employees who work a minimum of 20 hours per week
  • Carrier – Mutual of Omaha
  • Benefit – The EAP is a confidential round-the-clock service that helps employees and members of the employee’s household by offering free telephonic service (up to three times per problem, per year) for various issues.
  • No cost to employee

401(k) Plan

  • Effective – immediately (as soon as administratively possible)
  • Eligibility – all ISL employees
  • Plan Administrator – Fidelity
  • Employee contribution - Employee may contribute up to a maximum of 90% of his/her salary, not to exceed the maximum allowed by the IRS. The maximum in 2010 is $16,500 and for employees age 50 and over an additional $5,500 may be contributed (catch-up contribution). Company match is discretionary and ISL currently matches 25% of employee contribution (up to the maximum the employee contributes, including the catch-up contribution). Employees vest 100% after six years.

Employee Stock Ownership Plan (ESOP)

  • Employees join the ESOP after they have worked 1,000 hours by a quarterly entry date. Each year the employee works a minimum of 1,000 hours is counted towards their vesting in the plan. Employees vest 100% after six years. The ESOP is funded entirely by the Company.

Vacation

  • Employees (full-time) accrue three weeks per year as new employees, four weeks per year after four years of service and five weeks per year after seven years of service. Part-time employees who work a minimum of 20 hours per week accrue vacation at a pro-rated amount.

Sick Leave

  • Employees (full-time) accrue five days per year. Part-time employees who work a minimum of 20 hours per week accrue sick leave at a pro-rated amount.

Holidays

  • Employees (full-time) are eligible for 9 company holidays per year. This includes one Floating Holiday. Part-time employees who work a minimum of 20 hours per week are eligible for holiday pay at a pro-rated amount.

Tuition Reimbursement

  • Employees who work a minimum of 20 hours per week are eligible for tuition reimbursement after six months of employment.