Benefits
The Holland Board of Public Works
(HBPW) understands the needs of our employees and of their families and is
committed to providing a benefit package that works with the diverse needs of
the family. As such, the HBPW offers the
following benefits to its employees:
Medical
The HBPW offers four comprehensive
medical plan options. Blue Cross &
Blue Shield (BCBS) has been appointed as our administrator to guarantee that
adequate medical resources are available to meet the needs of our employees and
their families. By offering different coverage plans, we give employees the
needed flexibility necessary of meeting their individual needs. Overall, each
plan covers the same medical services, but may differ in specialized services,
annual deductibles, co-payments and co-pay prescriptions. Since the HBPW uses
BCBS, employees have a large list of medical providers from which to choose.
Employee coverage begins on the first day of the month following 30 days of
their hire date.
Dental
The HBPW offers a complete
coverage package in which routine preventive dental services are covered and
additional services are split at a 50/50 level up to the specified annual
ceiling cap. Employee coverage begins on
the first day of the month following 30 days of their hire date.
Life
insurance
The HBPW recognizes the needs of
a family during the loss of a member and in response,
we have created various options employees can select that can help meet those
needs. According to employee classification, an employee may select anywhere
from $10,000 to 3 x annual pay. Employees also have the opportunity to add
spouses and dependents to their life insurance option.
Bonus
Plan
The HBPW understands that employees are the most important resources of any
company, for its present accomplishments and future goals. Thus, the HBPW has established a
Goal/Performance oriented program that encourages and awards employees who
strive and set goals that continue the success of the HBPW. These goals provide a direct link to the
corporate goals established and approved by the senior management and our Board
of Directors. Each year, both Senior
Management and the Board of Directors evaluate corporate, team and individual
goals and determine a bonus opportunity factor. The determined amount is delivered
on a yearly basis to eligible employees.
Deferred
Compensation (457 Savings) Plan
Recognizing the dynamics of the
job market and the need to find tax shelters, the HBPW offers this plan as a
way for employees to take control of their retirement future. By providing a comprehensive deferred
compensation program, employees have the opportunity of investing a pre-tax
portion of their income into two different deferred compensation retirement
companies; ICMA and Hartford Life. This
allows employees to benefit now and in the future by reducing their annual
taxable income today and establishing a secure retirement plan that is under
their control. Employees can participate
in this plan immediately and may make changes in their contributions on an open
basis.
Retirement
Plan
The HBPW provides a highly
competitive base contribution to the 401(a) plan with a one time option for
employees to contribute and additional matching percentage. This plan is considered as the qualifying
pension plan as defined by the Internal Revenue Service and is administered by
the Michigan Employee’s Retirement System (MERS). The retirement plan is a defined contribution
plan designed to provide a secured retirement income source for those employees
who have committed dedicated years of service to the HBPW. Employees become fully vested in the plan
after five years of service and are eligible for full retirement at the age of
55 after 25 years of service or the age of
Holidays
The HBPW offers 8 paid holidays
per year.
Flex
Spending Accounts
The HBPW has both a Flex Health
Care Spending Account and a Dependent Care Spending Account. These options
allow employees to use tax-free dollars to pay for health care and work-related
dependent care expenses. New hires are eligible to participate in one or both
accounts as soon as they’re enrolled in our flexible benefits program.
Additional
benefits