Note: Defense Products Division (DPD) benefits information should be obtained from the Human Resources Department.

Medical, dental, and prescription coverage are available for all eligible employees.  Medical insurance is provided through CAREFIRST Blue Cross/Blue Shield National Accounts.  Employees can choose between a High Option and the Basic Plan. The High Option has lower deductibles and out-of-pocket expenses, but the cost per month is higher. Medco administers SFA's prescription plan, which is accepted at many local and national pharmacies, and also offers a mail order plan. Co-pays are $10 for generic, $20 for formulary or “preferred brand name,” and $30 for non-formulary.  The monthly cost to employees for medical and prescription coverage is as follows:

Individual Employee Only

$67 per month   

$44 per month

Husband/Wife – two persons  

$184 per month 

$125 per month

Parent/Child – two persons

$145 per month

$100 per month

Family – 3 or more persons

$253 per month

$165 per month

Individual Employee Only

$10 per month

Two-Party

$17.60 per month

Family – 3 or more persons

$30 per month

Section 125/Cafeteria Plan

This plan allows health insurance contributions (payroll deductions) to be deducted on a pre-tax basis, lowering the employee's taxable income.  Employees have the option to elect this benefit.

Individual Employee Only

$6.88 per month

Two-Party

$10.48 per month

Family – 3 or more persons

$18.78 per month

Flexible Spending Accounts (FSA)

These accounts allow employees to pay for the following types of expenses with pre-tax dollars:

• Out-of-pocket health care expenses up to $3000 annually. These include medical, dental, and vision care expenses such as deductibles and co-payments, glasses, orthodontia, and prescription drugs not covered under our current plans.
• Childcare and dependent day care expenses up to $5000 annually. Thes include the cost of day care centers or in-house day care for an incapacitated spouse or elderly parent.

Life Insurance

In the event of an employee's death, SFA pays the full cost of Group Life Insurance.  Full-time staff members are eligible for up to one (1) times annual salary rounded to the nearest thousand.

Accidental Death - Dismemberment

To assist employees in the event of a dismembering accident, SFA pays the full cost of Group Life Insurance.  Full-time staff members are eligible for up to two (2) times annual salary rounded to the nearest thousand.

Voluntary Life Insurance

Employees can purchase supplemental life insurance (up to 5 times salary – maximum of $500K) for themselves, their spouse, and children  The cost of this insurance is based on the employee’s age and use of tobacco products.

Long-Term Disability

Long-Term Disability offers continuing wage benefits to disabled employees equal to 60% of monthly basic earnings, up to $10,000 per month maximum.  The company pays 32% towards this benefit.

Voluntary Short-Term Disability

Employees have the option to elect short-term disability, which provides income protection in case of a disabling accident or illness. It is payable from the 15th day after the disability.  The amount of coverage is 60% of the employee’s weekly earnings, up to $1,500 per week (based on annual base salary).  Insurance coverage for eligible employees becomes effective on the first day of the month following employment.  Employees are responsible for 100% of the premium, which is paid via payroll deduction.

Vacation

• 0 - 1 years of service: 10 days
  
  
• 1-10 years of service: 15 days
  
  
• Over 10 years of service: 20 days

Sick Leave

7.5 sick days per year with a 500-hour maximum accrual

Holidays

10 holidays per year

Education Assistance

Full-time employees are eligible for tuition reimbursement of up to $3,500 per year.  SFA reimburses 80% of the tuition and book costs.

Retirement Savings Plan

401(k) Plan: employees can contribute up to the annual maximum limit set by the IRS (2008 = $15,500). Effective April 1, 2007, SFA will match 100% of the first 5% of the employee's contribution (prior to April 1, 2007, the match is 4%). Employees are vested as follows: 20% per year vested after the first year, 100% vested after five or more years.

Profit Sharing Plan

Effective April 1, 2007 the company ESOP Plan will convert to a Profit Sharing Plan and provide employees with an opportunity to share in the profits of SFA through their retirement plan. The Plan Year contribution that SFA intends to contribute is targeted at 3-4% of an employee's compensation subject to SFA meeting profitability goals.

Family/Medical Leave

SFA will grant up to 12 workweeks per year of Family Medical Leave in accordance with the Family Medical Leave Act.

Bereavement Leave

In the event of the death of an immediate family member, three days of full compensation is provided.

Jury Duty/Court Leave

Up to five days of leave is offered to employees who wish to serve jury duty or who are subpoenaed for court appearance.

Military Duty Leave

This leave is approved automatically, and employees are paid up to ten days for military duty.

Employee Assistance Program

The Human Resources Department conducts some counseling, but employees who require professional counseling are encouraged to seek outside assistance through SFA’s contracted Employee Assistance Program.