In our latest Sustainability Report, we share details about our benefits program, which is designed to attract, recognize and encourage quality performance and meaningful contributions from our employees.
Key Benefits
Health Benefits – Medical, dental and vision plans with covered annual preventive examsHealth Savings Account (HSA) – Tax-advantaged savings with a company contributionBasic Life and Accident Insurances, Short-Term and Long-Term Disability – Provided at no cost to all employees beginning on their first dayEmployee Assistance Program – Free counseling, identity protection and moreRetirement Benefits – Company-funded pension and 401(k) savings plan with 7% employer matchPaid Sick Leave – Seven days of paid time off each calendar yearVacation – Three to six weeks paid time off each calendar yearPaid Parental Leave – 10 to 12 weeks for birthing parent, four weeks for nonbirthing parentAdoption Assistance – Helping pay for adoptionFamily Leave – Unpaid time off for certain family, personal and medical reasonsEducation Reimbursement – Financial assistance for approved degree programs, certifications and licensingScholars Program – Competitive college scholarships for children of employees and retireesRelocation – Relocation assistance to help make the transition as easy as possibleGiving and Volunteerism – Company match for qualified giving and volunteer incentive program
Benefit EnhancementsÂ
We recently enhanced our benefit programs in many ways to support all employees across different phases of life.
Focus on FamiliesÂ
Expanded our existing coverage for fertility treatmentsIncreased adoption assistance to $10,000 per adoptionIntroduced a new surrogacy assistance benefit that reimburses up to $20,000 for qualifying surrogacy expensesExtended paid physical recovery time for birth mothers, while continuing to provide four paid weeks of bonding time for all new parents
Mental and Emotional Well-BeingÂ
Increased to 10 free counseling sessions per issue through our Employee Assistance Program, a benefit that extends to each household memberExpanded our clinical and emotional support programs beyond expectant parents to include family building (fertility, adoption and surrogacy), post-delivery maternity care, parenting support and menopause support
Financial Well-BeingÂ
Expanded options for earning our 7% Thrift 401(k) Plan match to include qualified student loan payments, allowing employees to save for retirement by paying down student debtAdded a Dependent Care Flexible Spending Account to increase tax savings opportunities for employees with eligible childcare and/or elder care needs
For more information on employee benefits, visit MyMPCBenefits.com.
