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At TAC, we not only value the
contributions you make to our success, but recognize the importance of providing
topnotch employee benefits!
Because we understand that your benefits are a
major part of your compensation package, we have worked hard to design an
outstanding benefits program aimed at protecting the health, financial security,
and quality of life for you and your family.
From our comprehensive medical,
vision and dental insurance and generous 401(K) savings program to our excellent
educational assistance plan and on-site Health Clubwe'll have you covered!
TAC offers at no cost
to employees, except as noted:
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Insurance - Medical
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Medical
Insurance
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TAC offers medical insurance through Blue Cross
and Blue Shield of Massachusetts.
Blue Care Elect Preferred (PPO) is available for all
employees. Employees residing in New England have the option of a choice
between Blue Care Elect Preferred (PPO) or HMO Blue New England. Employees
residing in Puerto Rico have medical insurance through Triple S.
BlueCare Elect Preferred (PPO) provides convenient,
low-cost coverage in their preferred provider network, plus the choice to go
out-of-network when you wish. For each in-network service, benefits are paid
at 100% after a $10.00 co-payment. There are no deductibles and no claim forms.
Out-of-network benefits are subject to a deductible and paid at 80%. Both in-network and
out-of-network services do not need a referral.
HMO Blue New England provides convenient, low-cost coverage in
their provider network. A Primary Care Physician (PCP) is required.
Referrals are needed when visiting someone other than your PCP. For each
network service, benefits are paid at 100% after a $10.00
co-payment.
Coverage begins on the first of the month
following employment.
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Vision
Care
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Vision Care is included with the medical coverage. The plan pays for eye examinations,
prescription lenses and frames according to the schedule found in the summary plan
description. The premium is paid 100% by the company.
TAC pays 85% of the medical/vision
premium.
Coverage begins on the first of the month
following employment.
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No Medical
Coverage
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You must have some form of medical coverage. We recognize, however, that your arrangements
for protection against medical expenses need not necessarily be provided by our plan.
You
may already have coverage from your spouses employer or from another outside plan.
If so, you may elect not to have medical coverage under our plan. By doing so you have
elected No Medical Coverage. This option may be selected only if you complete and sign the
statement of the Enrollment Form describing the source of your medical coverage, including
(1) the name of the company through which you are covered and (2) the policy number.
If
you select No Medical Coverage, TAC will give you an additional
$1,040 of
taxable income which you will receive in weekly increments. You and your family will be
covered for all other benefits, including life and disability, at no cost.
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Prescription
Drugs
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Through Blue Cross and Blue Shield of MA, prescription drugs there is only a $10 (generic), $25
(preferred), $45 (non-preferred) co-payment. In addition, there is a convenient mail order drug plan available. The
premium is paid 85% by the company.
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Insurance - Other
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Dental
Insurance
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TAC offers dental insurance through Delta Dental. The dental plan pays 100%
of usual and customary fees for preventative services.
After you pay a calendar year
deductible, the plan pays 85% for restorative services and 50% for major restorative
services. Orthodontic Care is available for dependents up to age 19. The premium is paid
85% by the company.
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Life and Accidental Death and
Dismemberment Insurance (AD&D)
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TAC provides employees with extensive group life
coverage at
an amount equal to three times your base annual salary, to a maximum of
$250,000.
Employee Accidental Death & Dismemberment coverage is an additional amount
equal to three times your base annual salary, to a maximum of $250,000. The
premium is paid 100% by the company.
Coverage begins on the first of the month
following employment.
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Disability
Benefits
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Employees are provided with a short-term disability (STD) benefit that provides employees
with a percentage of their pay for up to 26 weeks in the event of a non-occupational
illness or accident. Employees become eligible for short-term disability coverage after
thirty days of employment.
After 26 weeks of continuous disability, the
long-term disability (LTD) plan provides a benefit equal to 60% of regular base monthly
salary to a maximum of $10,000 per month. LTD benefits continue until you are able to
return to work or reach age 65. The premium is paid 100% by the company.
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Business
Travel Accident Insurance
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TAC pays the full cost of a business travel accident insurance policy by
which employees traveling on Company business are insured for three times their
annual salary with a
maximum of $500,000, and an aggregate limit of $2.5 million per aircraft accident. This benefit is
effective as of the employment date.
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Employee Savings Plans
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Section 125
Pre-Tax Payment Account
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If you choose Medical Coverage, this account will allow you to contribute your share
of the cost of your medical coverage through pre-tax deductions from your paycheck. In
other words, your own contribution for your medical coverage will not be subject to
federal or state income taxes or to Social Security (FICA) tax.
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Dependent Care Reimbursement Account
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A dependent care reimbursement account can help you channel up to $5,000 per year,
tax-free, toward needed expenses. Funded with pre-tax dollars this account can be
established in order to pay various bills.
The dependent care reimbursement account can
only be used to pay for the dependent care that enables you to work. These
expenses may include child care, care of a disabled spouse and/or disabled or
aged parent. This account is
subject to IRS regulations. Details are available from Human Resources.
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Health Care
Reimbursement Account |
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This account may be used for certain medical
expenses that are not covered by medical, dental or vision such as co-payments,
deductibles, braces, lasik surgery, prescription sunglasses, and hearing
aids. You may defer up to $2,500 of your pay, tax-free, into the Health
Care Account each year. The account is subject to IRS regulations.
Details are available from Human Resources. |
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401(k) Savings Plan
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TAC offers eligible employees a tax-deferred salary saving plan through
Fidelity Investments that allows you to save money by reducing your taxable income by the amount
of your contribution. Your contribution will be automatically deducted from your paycheck
and deposited into one of eighteen investment accounts.
You may contribute up to 60% of your weekly
gross compensation, subject to IRS limitations. Through an 800 number you can access your
account 24 hours/day. TAC will automatically match $.50 for every pre-tax
dollar you contribute, up to the first 6% of your annual pre-tax compensation.
In addition, the plan includes a loan provision that allows
you to borrow from your account. You are 100% vested with the employer match after one year of service.
Employees are eligible to join the plan
immediately.
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Holidays-Vacation Schedule
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Holidays
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TAC observes 11 paid holidays each calendar year. The holiday schedule is
determined and published in December. For regular part-time employees, holiday pay is
provided on a prorated basis.
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Vacation
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Full-time employees accrue vacation beginning with the first day of employment.
For up to five years employment you can accrue up to fifteen days per year.
After five years, seventeen days can be accrued and after ten years, twenty-two days can be
accrued.
For regular part-time employees, vacation is accrued on a prorated basis.
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| Employee
Assistance |
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Life
Balance Program
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Life Balance is the one-stop employee resource
that offers you and the other key people in your life free, confidential
assistance with all the issues of daily living. The program offers
practical solutions, information, advice and support on a wide range of issues
of work-life such as parenting, childcare, care of elders, financial, legal
issues, and employee assistance needs such as work issues, emotional well-being,
and every day issues. For more information contact Human Resources.
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Educational Assistance
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To assist employees in their career development, regular full-time employees are eligible
for reimbursement of tuition fees at a rate of 100% for a passing grade to a
maximum of $4,000 a calendar year.
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Employee Referral Program
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Employee Referral Program (ERP)
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TAC encourages employees to refer qualified individuals for positions
available within the Company and offers the following bonuses as incentives:
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$300 for
non-exempt/hourly placements
$1,000 for exempt placements
$3,000 for Management/Sr.
Engineering placements
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Full details on referral procedures and specific conditions may be
obtained from Human Resources.
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Workplace |
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Business Casual
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Every day is business casual dress day at TAC!
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Cafeteria
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The cafeteria is conveniently located next door at 200 Brickstone Square. It offers a wide
assortment of breakfast and lunch amenities. Company identification is needed.
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Credit Union
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TAC offers the services of a
credit union to all employees. The credit union enables employees to save money
through payroll deductions and to take advantage of the competitive rates, terms
and programs, such as checking and savings accounts, vacation and holiday club,
CDs, IRAs and loan programs.
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Direct Deposit
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TAC will electronically deposit an
employees paycheck into his/her personal checking or savings account at any
bank in the United States.
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Employee Activity Committee
(EAC)
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Throughout the year there are various social
activities which are sponsored by the EAC. These activities include holiday and
service award parties, summer outing, ski trips, canoe trips, golf, racquetball,
softball, volleyball, and tennis
leagues.
TAC also sponsors a luncheon, childrens holiday party,
summer barbecue and a number of charitable events.
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Health Club
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TAC Health Club is open to all TAC employees. The facility is
equipped with locker rooms, a number of aerobic and selectorized weight lifting machines
and a universal gym.
The health club is open seven days/week. Employees may bring a guest
into the health club after 5:00 p.m. on weekdays and anytime on weekends.
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Personal Insurance
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Personal Insurance is offered through payroll
deduction. It is a convenient way to pay auto, home, or rental insurance or to
purchase additional life insurance coverage for you and your family.
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Smoke-Free
Workplace
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TAC is strongly committed to keeping you healthy and happy at work. Employees
are provided with a smoke-free workplace and are encouraged to take advantage of the
various wellness programs available throughout the year. Monetary incentives are offered
for some programs.
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| *This
document is only a summary of TAC' benefit programs and is
subject to change. |