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Benefits Summary 2007-2008
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MEDICAL INSURANCE
All regular employees working more than 30 hours per week are eligible for Medical, Vision, and Dental benefits listed below on the first day of the month following 60 days of employment.
KAISER PERMANENTE HMO:
Kaiser gives you the freedom of choosing a Primary Care Physician or setting a same day appointment with the next available physician on duty without a referral. There is no deductible or annual maximum, after the $10 co-pay for office visits. Prescription co-payments are $10 per prescription. There is no payroll contribution for employee only coverage. There is also no payroll contribution for employees with two party or family coverage..
For more information call 1-800-464-4000 or go on line -
UNITED HEALTH CARE PPO/HEALTH SAVINGS ACCOUNT:
This plan is designed to give you access to high-quality health care while giving you the freedom to choose your own provider and control your out-of-pocket costs. To maximize your benefit, choose a participating provider from the directory. This is a high deductible plan, meaning that you pay the full cost for all services or prescriptions until you've met your deductible. After the deductible, your expenses are 90% covered if you select a participating provider and 70% covered if you select a provider outside of the network.
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| Participating Provider |
Non Participating Provider |
| Deductible |
$1,100 per person, $2,200 maximum |
$2,200 per person, $4,400 maximum |
| Out-of-Pocket Max |
$4,400 per person, $8,800 maximum |
$4,400 per person, $8,800 maximum |
| Office Visits |
90% covered after deductible |
70% covered after deductible |
| Other Care |
90% covered after deductible |
70% covered after deductible |
| Prescriptions: |
| Generic |
$10 after deductible |
| Brand |
$30 after deductible
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| Non-Fomulary |
$50 after deductible
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There is no payroll contribution for employee only, two-party or family coverage. The Company makes an annual contribution to the participant's HSA account as follows: $450 single, $500 two-party, and $550 family. Participants also make contributions towards the HSA account through payroll deductions. The maximum (employee and employer combined) contribution to the account in 2008 is $2,900 for single, or $5,800 for family coverage.
For more information call 1-866-316-9776 or go on line -
PACIFICARE HMO:
This plan requires the selection of a Primary Care Physician from an exclusive network of quality physicians. There is no deductible or annual maximum for this plan. The participant is 100% covered after the $10 co-pay. The prescription plan covers most prescribed medications with $20 co-pay with name brand or $10 co-pay for generic. The maximum level of benefits is available as long as your Primary Care Physician has approved the services. The bi-weekly payroll contribution for employee only coverage is $50.75, two person coverage is $122.02, and family coverage is $128.49.
For more information call 1-800-624-8822 or go on line -
Employees who have dual medical coverage, may elect to opt-out of the Company's group plans and receive a monthly compensation of $200.00.
VISION INSURANCE
Vision coverage is included with your choice of medical plans and included in the contribution amounts stated below. The benefits are as follows:
KAISER: No annual deductible - Eye Exams - $10.00 co-pay every 12 months. Coverage for standard lenses covered at 100%. Frames or contact lenses covered at a $175.00 allowance every 24 months. Must be from Kaiser facility.
UNITED HEALTH CARE PPO: Subject to annual deductible. Eye Exams - $70.00 maximum benefit every 12 months. Coverage for lenses varies between $50 to $150 maximum benefit every 24 months. Contact lenses - $125 maximum benefit every 24 months.
PACIFICARE HMO: No annual deductible. Eye Exams - $10.00 co-pay every 12 months. Coverage for standard lenses covered at 100%. Frames covered at a $60.00 allowance every 24 months. Contact Lenses (in lieu of eyeglasses covered at a $100.00 allowance). You must use a provider from the PacifiCare MES Directory.
DELTA DENTAL INSURANCE
Delta Dental insurance is the only dental plan available to all eligible employees. Under SJWC's Delta Dental plan, employees are afforded the following coverage at no charge.
DELTA PREMIER PLAN:
This plan offers coverage through the selection of any Delta Dentist. Preventative treatment is covered at 100%, basic treatment covered at 80%; major dental at 50% with an annual maximum of $1,500 per person. There is an annual deductible of $25 per person per calendar year. Orthodontic benefits for dependent children are covered up to 50% of Delta's approved fee, subject to a $1,500 lifetime maximum per person.
NON-DELTA DENTIST:
This plan allows you to select a dentist who is not a member of the Delta Organization. Benefits are covered at the same limits as the Delta Premier Plan, however you will be responsible for any amounts over the Delta approved fee.
For more information call 1-888-335-8227 or go on line -
SECTION 125 - FLEXIBLE SPENDING ACCOUNT
San Jose Water Company offers a full Flexible Spending Account (FSA) through Creative Benefits. This plan consists of 3 FSA Accounts - Premium- Only, HealthCare and Dependent Care. Flexible Spending Account is a tax shelter plan, allowed by IRS. Money in your spending account is never taxed. This plan is provided at no cost to all San Jose Water permanent employees working 30+ hours per week.
The maximum election amounts for the plan are as follows:
FSA Election Maximum Amount HealthCare $2,500
FSA Election Maximum Amount Dependent Care $5,000
For more information call 1-888-295-5656 or go on line -
LIFE INSURANCE
LIFE/ACCIDENTAL DEATH & DISMEMBERMENT: All employees are eligible on the first day of the month following 60 days of employment. Union employees are covered at one times their annual base salary. Administrative employees are covered at two times their annual salary. Premiums are paid for by the Company.
OPTIONAL -LIFE/ACCIDENTIAL DEATH & DISMEMBEMBERMENT INSURANCE
Additional life insurance of $15,000, $25,000, $50,000 or $100,000 can be purchased at the employee's expense at an additional low premium rate. AD&D coverage is equal to the life insurance benefit and is paid in the case of an accidental death. Dismemberment benefits are paid as outlined in the certificate.
LONG TERM DISABILITY: All employees are eligible on the first day of the following month following their employment date. Income protection received for long term illness/disability in excess of six months at 60% of monthly base pay. Short-term disability provided by the State of California.
401(K) PLAN
Employees are eligible to enter the 401(K) plan on the first day of the calendar month following employment. The maximum allowable contribution is 25% per pay period. The Company matches 100% of the employees' first 3% contribution and 50% of the employees' next 2% contribution. All employees may change the amount of their deferral up or down once per month. The maximum contribution in 2007 is $15,500. Company contributions are immediately 100% vested. The following fourteen funds are offered: Vanguard 500 Index Fund, Vanguard Treasury Money Market Fund, Dodge & Cox Stock Fund, Vanguard Total Bond Market Index Fund, Vanguard Small-Cap Index Fund, Vanguard Mid-Cap Index, Vanguard PRIMECAP, Dodge & Cox International Stock Fund, Vanguard U.S. Growth Fund, and five Vanguard Target Retirement Funds.
For more information call 1-800-523-1188 or go on-line -
EMPLOYEE STOCK PURCHASE PLAN (ESPP)
Employees are eligible to enter the ESPP after one year of completed service prior to the start of the Offering Period. Each offering period consists of six months beginning on February 1 and ending on July 31, and beginning again on August 1 and ending on January 31 of each year. Employees may contribute between 1% and 10% of base salary to purchase stock at 85% of the fair market value (closing price) on the Purchase Date. All employees may change the amount of their deferral down once per offering period.
RETIREMENT PLAN
Employees are eligible for the Retirement Plan as of the date of employment (see Plan provisions). Participants receive a quarterly pay credit based on years of service as follows:
| Less than 5 years |
5% |
| 5 - 9 |
6% |
| 10 - 14 |
7% |
| 15 - 19 |
9% |
| 20 or more |
11% |
A quarterly interest rate based on the 30-year T-Bill is also applied, with a guarantee of at least 3% and a maximum of 6%. This plan has a 3-year cliff vesting schedule and upon termination is payable as a lump sum or annuity to the Participant or his/her beneficiary.
In addition, Participants who attain the "Magic 75" are eligible for the retiree monthly medical benefit of $150 per retiree and $100 for a spouse at age 55, $200 each at age 60, and $250 each at age 65.
HOLIDAY PAY/VACATION
SJWC recognizes and observes 14 paid Holidays for full-time and regular part-time employees. All employees are eligible immediate following the date of hire. The Holiday Schedule will be determined and announced by management each year.
Vacation time will be accrued and accredited as illustrated below:
| Years of Service |
Accrued Vacation Per Year |
| After 1 year to 4 years |
2 weeks |
| 5 to 12 years |
3 weeks |
| 13 to 19 years |
4 weeks |
| 20 to 27 |
5 weeks |
| After 28 |
6 weeks |
Vacation carryover under special circumstances may be approved by the Human Resources Department.
SICK TIME LEAVE
After one year of service, employees are eligible for up to eighty (80) hours per year to a maximum accrual of 1,040 hours. Employees may use up to forty hours of their accumulated sick leave per calendar year for immediate family care.
TUITION REIMBURSEMENT
All employees are eligible following six (6) months of full-time employment. Reimbursement includes tuition, books, and registration for job-related courses or courses related to a position within SJWC. Approval must be received prior to commencement of classes. The maximum annual reimbursement is $3,000 for union employees and $5,000 for administrative employees.
COMMUTER ASSISTANCE PROGRAM
The Commuter Assistance Program (CAP) benefits employees who live at least 20 miles from the Main Office or Bascom Avenue sites. Regularly scheduled trains and buses and a customized shuttle service are used to transport employees to and from work Monday - Friday (excluding holidays) during commute hours. The Company reimburses participating employees at a rate of 50% of the cost of the appropriate monthly ticket (subject to federal income tax; however, up to $110.00 of each ticket is tax exempt).
The descriptions of San Jose Water Company benefits presented here summarize the highlights of the plans. If any statement here, or in any other communication, conflicts with applicable plan documents, the documents will govern. San Jose Water Company reserves the right to amend or terminate any of its employee benefit plans in any respect and at any time.
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