Mtg No 45 Jan 11, 2011 Minutes and Notes

Benefit Name:
Benefit Highlights. does 1
Life Insurance and
Life and AD &D Amount Two (2) times Annual Earnings, rounded to the next higher $1,000, if
AD &D•
not already an even multiple thereof. The maximum benefit is
$500,000; minimum benefit is $10,000
(Employer Cost for coverage is .225 per $1,000 of coverage)
Life Insurance for Dependents
Spouse Benefit $5,000
Child Benefit
2 weeks to 6 months $200
6 months to age 26 $2,000
Your benefit under your group Life and AD &D reduces as you get older
and will terminate when you end employment or retire. Coverage for
a spouse will end when the spouse reaches age 70.
(Employer cost is 1.46 per month)
Optional Life Insurance You have the option to purchase additional term life insurance for
yourself, your spouse and your dependent children through Hartford
Life at competitive rates.
Long -Term Disability
Benefit Percentage 60% of your pre - disability earnings
Maximum Payment Amount $10,000 per month
Waiting Period 90 days after the date disability begins employer
(Employer cost for coverage is .66 per $100 of covered payroll)
Flexible Spending
Annual Contribution Limit
Accounts:
♦ Healthcare FSA Up to $3,000 per calendar year
♦ Day Care FSA Up to $5,000 per calendar year or
$2,500 if you are married but filing single
Employer Cost - Administrative fee 5.50 per employee
Retirement Benefits:
Employees will become participants of the Southern Ute Indian Tribe Retirement Saving Plan on the 91't day of
First Mercantile
continuous employment.
401 k Employees may make pre -tax salary deferral to the 401(k) Plan. The Tribe will match up to 4% of an
employee's payroll. The employee has a choice of investment options. Participants are always 100% vested in
their 401(k) salary reduction contributions and the employer's matching contributions.
Employer cost up to 4% of pay
Discretionary Contribution The Tribe may make a discretionary contribution into participant's account. The
amount of the discretionary contribution for the 2011 is 6% of pay. Participants will vest in the employer
discretionary contributions after three (3) years of vesting service.
Employer cost up to 6% of pay
Vacation \Sick Leave:
Fulltime Regular employees are provided with both vacation and sick leave.
Sick leave -.05 hour for every hour worked for example for 80 hours an employer would receive 4 hours
Vacation
0 -3 years of service -.05 hour for every hour worked, for example for 80 hours an employer would receive 4 hours
3 -10 years of service -.75 hour for every hour worked for example for 80 hours an employer would receive 6hours
10+ years of service -.1 hour for every hour worked, for example for 80 hours an employer would receive 8 hours
Bereavement Leave:
Employees are entitled to request up to five days of Bereavement Leave in the event of the death of a family
member.
Employee Assistance
The Southern Ute Indian Tribe provides an Employee Assistance Program for all employees. Up to eight
Program:
confidential counseling sessions are provided per employee, and for all household members per year, with an
experienced, professional counselor at no cost to the employee.
Employer cost 1.65 per month