Benefits

Masspro provides its full-time employees with a comprehensive suite of benefits, including:

PERFORMANCE MANAGEMENT PROGRAM

• Common review date cycle matches Masspro fiscal year
• The review date cycle runs from April 1 – March 31
• Increases are based on “Threshold”, “Target” or “Superior” rating per:
  • Corporate goals success
  • Individual goals success
  • Success in modeling of company “Core Values”
  • Professional Development success
  • Employee Satisfaction success (owned by managers and executives only)
  • All employee goals are aligned to Corporate Goals
• Eligibility: if employed prior to January 1

INCENTIVE GAIN SHARING PROGRAM

• If Corporate Goal “Target” is met, employees receive one extra personal day
• If Corporate Goal “Superior” is met, employees receive two extra personal day
• Eligibility: if employed prior to January 1, employee

401(k) RETIREMENT PLAN

• Employee pre-tax contribution maximum for 2007 is $15,500
• Employee Catch-up pre-tax contribution maximum for 2006 is $5,000
• All contributions are bi-weekly for “dollar cost averaging” benefit
• Vesting schedule (based on 1000 hours worked) does apply for some of the employer contributions
• 100% vested after five years of service (1000 hour rule applies)
• American Funds is the record keeper
• Choice of 15 funds from four different fund families
• Choice of five asset allocation models
• Quarterly statements
• Employer Safe Harbor Contribution
• Employer Discretionary Contribution
• Loans
• Eligibility: 90 days and 1st of following month

VACATION

• Vacation accrues based on position
• Starting vacation is either two, three, or four weeks
• Eligibility: 90 days

HOLIDAYS

• 14 days total per year (see below)
• Federal Holidays (January 1st, Martin Luther King day, President’s day, Memorial Day, July 4th, Labor Day, Columbus Day, Veteran’s Day, Thanksgiving, Christmas)
• State Holiday (Patriot’s day)
• Extended Holiday (Friday after Thanksgiving)
• Personal Holidays - Eligibility 90 days
• Eligibility: Immediate

SICK

• 12 days per year
• Eligibility: Immediate

HEALTH INSURANCE

• Insurance carrier is Blue Cross Blue Shield of MA – offers 2 plans
  • HMO Blue of New England Enhanced Value Option Plan
  • Blue Care Elect Saver PPO (high deductible)
• Cost of plan is pre-tax
• Choice of single, dual, or family option
• Employer pays almost 75% of the benefit
• Mail order pharmacy option for added savings
• Extensive wellness program
• Eligibility: Immediate

BENEFLEX

• Beneflex is Masspro’s Flexible Benefit Program
• Beneflex provides credits to purchase benefits, such as health, dental and life insurance
• Credits are based on the employee’s family status
• Any credits unspent become taxable income to you
• Eligibility: Immediate, upon selection of HMO, or no coverage by Masspro plans

HEALTH REIMBURSEMENT ACCOUNT

• Employer pays inpatient and/or outpatient hospitalization co-pay of $500
• Must be on employer’s health plan
• Utilizes the Choice Care Card (debit card) as an easy means of payment
• Eligibility: Immediate

DENTAL INSURANCE

• Insurance carrier is Delta Dental
• Product is Delta Dental Preferred (PPO)
• Part of Beneflex Program
• Cost of plan is pre-tax
• Choice of single, dual, or family option
• Preventative services covered at 100%
• Most restorative services covered at 80% with a one time per calendar year deductible of $25 for single and $75 for family
• Orthodontics coverage
• Eligibility: Immediate

LIFE INSURANCE

• Insurance carrier is The Standard
• 1 times annual salary is paid by Masspro
• Part of Beneflex Program
• Cost of plan is pre-tax
• Insurance over 50k subject to GTL tax
• Eligibility: Immediate

OPTIONAL SUPPLEMENTAL LIFE INSURANCE

• Insurance carrier is The Standard
• Employee can purchase additional life insurance at 2 times or 4 times annual salary
• Maximum amount covered is 550k, with evidence of insurability, up to 750k
• Part of Beneflex Program
• Cost of plan is pre-tax
• Insurance over 50k subject to GTL tax
• Eligibility: Immediate

FAMILY LIFE INSURANCE

• Insurance carrier is The Standard
• Choice of life insurance for spouse, children or family
• Spouse coverage at 10k
• Child or children coverage at 5k per child
• Family coverage at 10k for spouse and 5k for child or children)
• Part of Beneflex Program
• Cost of plan is after tax
• Eligibility: Immediate

FLEXIBLE SPENDING ACCOUNTS

• Employer offers either health care and dependent care accounts
• Employee can contribute between $100 to $5,000 for eligible medical/dental expenses and/or eligible dependent/elder care expenses
• Contributions are pre-tax
• Contribution amounts can not change during the calendar year, unless a “qualifying event” occurs
• Contributions are “use or lose”
• Utilizes the Choice Care Card (debit card) as an easy means of payment
• Reimbursements are tax free
• Eligibility: Immediate

SHORT-TERM DISABILITY INSURANCE

• Insurance carrier is Standard Insurance
• Payments start on 8th day of sickness or illness at 60%of weekly salary
• Employees pay 100% of premium with after tax dollars
• Eligibility: Immediate

LONG-TERM DISABILITY INSURANCE

• Insurance carrier is The Standard
• Payments start on the 91st day of disability at 66.66% of salary
• Employer pays 100% of premium
• Eligibility: 90 days

TUITION REIMBURSEMENT

• Course/degree and certificate programs must be job related
• Minimum grade required is “C”
• Employer pays up to $3,500 per year
• Eligibility: 90 days

INTERNAL MEDICAL CEUs

• Masspro provides regular internal medical CEU programs at no cost during work
• Eligibility period: Immediate

EXTERNAL MEDICAL CEUs

• Employer will reimburse for attending a pre-approved work related external CEU program
• Maximum reimbursement for external CEU courses is $100 per program
• Cap of $500 for every 2-year licensure cycle
• Maximum time off will be one day per year or 2 days/16 total hours per licensure cycle
• Eligibility period: Immediate

CREDIT UNION

• Offered through the Metropolitan Credit Union
• Provides services similar to a bank (saving, checking, IRAs, auto loans, ATMs)
• $25 dollar minimum balance
• Takes one pay period to set up
• Eligibility period: Immediate

STORM DAYS

• In the event of inclement weather, the CEO may open late, close early, or close the entire day
• Employee’s are paid for the “closed” time
• Eligibility period: Immediate

HEALTH CLUB BENEFIT

• Employee wellness is important at Masspro
• Corporate membership with Fitcorp
• Nine locations, closest located at 303 Wyman Street, same office park as Masspro
• Membership rate is $29.00 per month or $338.00 lump sum per year (save $10.00)
• $25.00 initiation fee
• Eligibility period: Immediate

EMPLOYEE DISCOUNTS

• Discount tickets available
• Movie theaters (General Cinemas and Showcase Cinemas)