EMPLOYMENT - BENEFITS
Wall Residences offers the following benefits package to full‐time employees:
Health Insurance – The Company currently offers three Health Care Plans from which to choose. Anthem KeyCare 25 plan is 100% company paid for employee coverage. We also offer Anthem KeyCare 20 Plan which provides some enhanced benefits, but requires the employee to make a contribution toward the premium. The third Plan is a High Deductible Health Care Plan. Employee only coverage is also 100% Company paid. Dependent coverage is available in the three plans and requires the employee to make a contribution toward the premium for many of the coverage’s. All three Plans also have a 60 day waiting period before coverage becomes effective. All three Plans contain Employee Assistance Program (EAP) benefits.
Group Life Insurance – The Company provides Group Term Life insurance coverage through the Guardian Insurance Company in the amount of $30,000 at no cost to the employee. This Plan too has a 60 day waiting period before the coverage is effective. It also contains coverage for employees who suffer an Accidental Death or Dismemberment.
Short Term Disability Insurance – The Company provides Short Term Disability insurance at no cost to the employee. This coverage is provided through The Guardian Insurance Company and provides a benefit equal to 60% of your covered wages (to a weekly maximum of $750.00) for a maximum of 13 weeks. This Plan has a 60 day waiting period before coverage is effective. Should you have an illness that prevents you from performing your duties, there is a 7day elimination period before benefits become payable. If your disability is the result of an accident, then benefits become payable day 1.
Long Term Disability Insurance - The Company also provides Long Term Disability insurance at no cost to the employee. The coverage is provided through The Guardian Insurance Company and provides a benefit equal to 60 % of your covered wages. Benefits under this Plan become payable following 90 days of disability that prevent you from performing your duties. This Plan also has a 60 day waiting period before the coverage is effective.
Dental Insurance – The Company offers a Dental plan through Delta Dental of Virginia. There is a 60 day waiting period before coverage becomes effective and the employee is required to make a 50% contribution toward the premium for employee only coverage. The Plan provides 100% coverage for preventative services, 80% coverage for restorative services, and 50% coverage for major dental services. The Plan also has a small annual deductible of $50.00 which is applied first toward restorative and major dental services. The maximum annual benefit provided in a calendar year is $1,250.00. Dependent coverage is also available and requires employee contribution toward the premium for that extra coverage as well.
Voluntary Supplemental Life Insurance – Allows the employee to elect additional life insurance coverage for themselves, an eligible spouse, and dependents. This program provides a Guarantee Issue of up to $100, 000 for employees, $25,000 for spousal coverage, and $10,000 for Dependent coverage. This coverage is fully paid by the employee and can be converted to an individual policy, should you leave the Company.
401(k) Retirement & Profit Sharing – The Company sponsors a 401(k) Savings Plan whereby an employee may contribute a portion of their salary on a pre-tax basis and / or an after-tax basis into the Plan as a supplement to their retirement. You must be at least age 21 and have one year of employment before becoming eligible to participate in the Plan. If you decide to participate, the Company also provides a matching contribution equal to 100% on the first four percent of your deferral (example: if you defer 2% of your salary, the Company will match your 2% contribution. If you defer 7% of your salary, the Company Matching Contribution will only be to the maximum of 4% of your salary.) Participants are responsible for the investment of their contributions and our Plan has several investment options from which to choose. Newly eligible participants may enter the Plan on the first day of the calendar month coincident with or next following the time they meet the criteria of completing 1 full year of employment during which 1000 hours of service were also completed.
Employee Stock Ownership Plan – Wall Residences employees are included as owners of the agency after one year of employment, provided they have completed at least 1000 hours of service in that first year, and are at least age 21. This benefit is intended as an additional resource for retirement. Employees are not required to contribute to this Plan.
Paid Time Off – The Company realizes the need for employees to take time away from work from time to time. Our policy for Paid Time Off (PTO) is that sick time, vacation time, and personal time are all included into one category. Regular full time employees who work 40 hours a week accrue PTO at a rate of 4 hours per pay period the first year of employment. That accrual rate increases to 5 hours per pay period on your first service anniversary with Wall. It again increases to 6 hours per pay period on your second anniversary. For employees who work between 32 to 40 hours per week, they will accrue 3 hours per pay period, and will also receive increases to their accrual rates as their service increases.
Nine Paid Holidays – Wall Residences currently recognizes nine of the major holidays. Each fall, the next year’s holidays are determined and a schedule is distributed to all employees. These recognized holidays are in addition to the Paid Time Off benefits described above.
Employee Assistance Plan (EAP) – The Company also provides employees with a strictly confidential EAP that allows them (and their eligible dependents) to talk with professional counselors on a variety of topics that are affecting their well-being. This benefit is provided at no cost to the employee.
All employees are paid on the 15th of the month and the end of each month. Direct deposit of your earnings is available.
NOTE: All payroll deductions for insurance are pre‐tax.
This is provided as a summary of benefits and does not contain all of the provisions of the current plans being offered (including limitations and exclusions). Should anything in this document and the official Plan documents differ in any way, then the provisions in the official Plan documents will prevail.