Benefits Book 2020 Crawford Murphy Tilly Flip Pdf Anyflip

Leo Migdal

-Nov 19, 2025, 6:21 AM

benefits book 2020 crawford murphy tilly flip pdf anyflip

Crawford, Murphy & Tilly, Inc. 2020 Benefits at a GlanceSome of the many advantages of working at Crawford, Murphy & Tilly, Inc. (CMT) are the benefit programs we offer to you and your eligible dependents. CMT is committed to our employees and their personal welfare and financial security by offering competitive insurance products and 401(k) savings opportunities. The purpose of this document is to provide an overview of the CMT benefits to newly hired full-time employees and to candidates for open full-time positions at CMT. As a new employee, detailed enrollment information will be provided, soon after your first day of employment.

Health Benefits CMT’s competitive insurance products include medical, dental, vision, life and disability coverages. As an employee, you have the ability to select benefits that may be individualized to meet your needs and those of your dependents. Upon request, a Summary of Benefits and Coverage (SBC) can be provided which provides a more detailed account of the varying insurance products coverage. Enrollment at Hire You have 31 days All full-time employees may enroll themselves and their dependents in a variety of benefit plans. Late entrant limitations may from your date apply if forms are not completed properly or submitted in a timely manner. of hire to enroll in the various Eligibility options.

You are eligible for the insurance benefits upon the first day of the month following your first day of hire. You have 31 days from your date of hire to enroll in the various options. 2020 Benefits | 1Open Enrollment Once a year, CMT holds an open enrollment period. During this time, employees may make changes to benefit plans and enroll in the AFLAC insurance products and the Flexible Spending accounts. Employees may also add dependent(s) to insurance coverage or change coverage type. The open enrollment period is typically during the month of December, with an effective date st The open of January 1 .

After the enrollment period, changes to benefits can only be made due to a qualifying event occurring, causing a enrollment period change in life status. is typically during Life Status Change the month of December, with Certain life events can affect benefits. These events are referred to as a qualifying event or a “Life Status Change.” Examples of this an effective date type of an event are the birth or adoption of a child, marriage, of... divorce, or a significant change in my family’s health coverage attributable to a spouse’s employment. When a life status change occurs, an employee may want to enroll in a benefit plan add or cancel a dependent to a benefit plan, or change the amount of pre-tax money set aside... Changes are generally retroactive back to the qualifying event date.

2020 Benefits | 2Health Insurance CMT offers major medical group health insurance for full-time employees, which is effective the first day of the month following employment. The CMT health insurance contribution amount is based upon the health insurance coverage classification. Health insurance coverage classifications include: 1) Single Coverage, 2) Employee plus Spouse coverage, 3) Employee plus Children coverage, 4) Family coverage, or 5) No coverage when coverage is declined. CMT’s health insurance physician network is provided through United HealthCare and administered by UMR. Two plan options CMT offers major are available for health insurance. The first plan is a Participating medical group Provider Option (PPO) network provider.

The PPO option allows for low co-payments for routine doctor’s visits for illness or injury, health insurance as well as a prescription drug plan for prescribed medications. for full-time The second plan is a High Deductible Health Plan that may be employees. complemented with a Health Savings Account, and includes $2800 deductible for single coverage or a $5,600 deductible for family coverage. Both plans provide an annual wellness phys- ical for the employee and covered dependents at no charge or co-pay. A Summary of Benefits & Coverage of the plan is available on the CMTnet, the intranet portal for CMT employees, or upon request. The CMT health insurance contribution may only be applied toward the medical insurance premium and the balance of the premium is paid by a pre-tax payroll deduction.

There is no additional compensation paid to an employee who opts-out of CMT medical coverage and, therefore, does not utilize the cafeteria plan contribution. 2020 Benefits | 3Other Cafeteria Plan Products In addition to the health insurance, CMT employees may make voluntary payroll deductions to purchase other products offered in our Cafeteria Plan Menu. Other products include VSP Vision Insurance and MetLife Standard Dental. Dental Coverage CMT offers dental insurance through MetLife Standard designed to pay a portion of the costs associated with dental care. The dental plan is administered by MetLife Standard and covers preventative (at 100% coverage with no deductible), basic (at 80% with a $50 deductible), and major (at 50% with a $50 deductible if the... You pay the full cost of the dental coverage.

The dental insurance product is voluntary and independent of the health insurance and may be purchased without enrollment in a health insurance product. Vision Coverage CMT offers vision insurance with Vision Service Plan (VSP), which provides assistance paying a portion of the cost associated with routine eye care. The CMT vision plan is administered by VSP. The plan pays for periodic vision exams, eyeglass lenses and frames and contact lenses up to a designated dollar amount. VSP also provides discounts on laser vision care. You pay the full cost of vision coverage.

The vision insurance is available for enrollment upon hire and annually during the open enrollment period. At the time of enrollment, the employee is making a commitment of one year if selected during open enrollment, or for the duration of the calendar year if selected at hire. The vision insurance product is voluntary and independent of the health insurance and may be purchased without enrollment in a health insurance product. 2020 Benefits | 4Flexible Spending Account CMT employees have the option to participate in a flexible spending account plan for medical, dependent care, public transportation and employee education expenses using pre-tax dollars to pay... Pre-tax money deposited into your flexible spending account(s) can be used to pay for IRS-approved expenses and is not subject to federal and most state/local income tax or social security tax. Each year, the IRS determines the plan limits, and for 2020, you may contribute up to $2,750 to a medical care flexible spending account, up For the medical to $5,000 ($2,500 if you are...

“MyBenny” For the medical flexible spending account, a “MyBenny” Visa card Visa card will will be issued to all participants that can be used to pay for many be issued to all out-of-pocket health... To utilize the medical flexible spending account, you do not have to participants. be enrolled in any of the CMT insurance plans. Additionally, a new IRS provision was implemented recently, which allows participants of the medical flexible spending account to roll over up to $500 unused funds to be carried over to the following plan... For the additional flexible spending accounts mentioned, receipts may need to be submitted for reimbursement. Many of these plans are administered under the IRS provisions and can change from year to year.

It is suggested that employees annually consult with open enrollment documents to note any plan changes for the upcoming year or consult with Human Resources for details of the other plans. 2020 Benefits | 5Health Savings Account A Health Savings Account (HSA) is an individually owned, tax-advantaged, interest-bearing savings account that can only be used to pay for qualified medical expenses. The IRS requires that you be enrolled in a qualified High Deductible Health Plan that meets their annual minimum deductible and out-of-pocket maximums (CMT’s plan meets these amounts). You may not have any other health coverage, unless it is also a High Deductible Health Plan. Pre-tax contributions to the HSA may be made by the employee through payroll deductions, and the unused balances will roll over from year to year. The HSA and all contributions belong to you as the employee.

A great feature of an HSA is the ability to save money on a pre-tax basis to use for medical expenses into retirement. In the 2020 plan year, CMT will match an employee’s contribution on a dollar for dollar basis, up to a maximum of $840 annually ($35 per pay period) if the employee is enrolled in... The annual amount contributed by CMT will be no more than $840 and may be less if the employee elects to contribute less. The employee deferred amount must be completed through a pre-tax payroll deduction utilizing a Bank of Springfield (BOS) health savings account. The amount contributed will be added to the employee’s health savings account each payroll to match the funds contributed by the employee. Life Insurance Disability Insurance CMT provides you with non-contributory term life CMT also provides disability insurance for full-time insurance coverage equal to $50,000 at no cost employees, effective after one month of employ- to...

The principal amount is payable at 50% in ment and becomes effective the first day of the the event of accidental dismemberment, including month thereafter. The benefit begins after 14 days one hand, foot or eye, or at 100% if due to death (of which CMT underwrites 7 of the 14 days) of or if the dismemberment is a... Twice the principal amount is payable duration of the disability, or until age 65, which- for a loss as noted above which is caused by ever comes first. Disability benefits under the CMT injury while riding as a passenger with a common plan are reduced by the amount of government carrier. program benefits. The total of these disability benefits is 60% of salary.

2020 Benefits | 6Employee Profit Sharing and Retirement Plan Profit Sharing - Retirement Contribution CMT has had a profit sharing plan in effect since 1947. Based on the company’s profitability, a sum of money as determined The vested by the Board of Directors of CMT is allocated to each eligible employee’s retirement trust account. balance increases An employee is eligible to participate upon working 1,000 hours 20% per year and being actively employed on the last day of the plan’s fiscal of service on year, which ends on... Contributions are made st the employee’s between late February and early March. The employee self-directs the allocation of the contribution among available invest- anniversary of ment options. employment The CMT Profit Sharing Contribution has averaged approximately date.

6% of the employee base salary throughout the past 10 years. Profit sharing contributions and the earnings thereon, are subject to a vesting schedule for new employees with less than five years of service. The vested balance increases 20% per year of service on the employee’s anniversary of employment date. Profit Sharing - Cash Bonus Employees who have worked a minimum of 1,000 hours by November 30 will also participate in a Cash Bonus paid in th December of each year. During the past 10-year history, the cash bonus has averaged to be about 2% of an employee’s base pay. 2020 Benefits | 7401(k) Plan & Matching Contribution As a complement to CMT’s company profit sharing contribution, employees may also save toward their retirement through voluntary tax deferred or Roth 401(k) payroll deduction.

The CMT 401(k) plan offers the opportunity to build financial security and retirement income for you and your family through a combination of your own and company contributions. CMT will match 50 cents for every dollar an employee contributes up to the first 6% of payroll deferred. Employees may make an additional unmatched contribution as a payroll deduction up to CMT will match IRS approved limits. These amounts are deposited semi-monthly. 50 cents for The CMT matching contributions are also subject to the same vesting provisions as the profit sharing contributions discussed every dollar above. The employee self-directs the investment of these funds an employee among the available options.

An employee is eligible to partici- contributes up pate in this component of the plan immediately. to the first 6% of As a convenience to new employees, a 6% pre-tax contribution will be automatically deducted from your base pay and increased payroll deferred. by 1% each year until your contribution reaches 10%, unless you make a different election. This contribution, along with matching company contributions, will be invested in the target date fund that most closely matches your retirement age (assumed to be age 65) unless you make a different investment election. Certain employees may be eligible to participate in a provision of the 401(k) plan to make catch-up contributions. If you are age 50 or older on January 1 of the current year, or turning 50 within the calendar year, you may be eligible to make additional contributions (unmatched) into your CMT...

Benefits Book 2020 Crawford Murphy Tilly Flip Pdf Anyflip

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