Farm Credit East Benefits
Farm Credit East offers a variety of benefits for full- and part-time employees. In addition, our benefits package is designed to offer a solid foundation for financial protection for employees and their families. Our total compensation package allows employees to select those benefits that fit their individual circumstances. Our Benefits Program includes, but is not limited to the following:
Optional medical coverage provides four tiers of coverage with two different categories to choose from through BlueCross/Blue Shield. Each plan offers prescription drug coverage and Preventive benefits that pay 100% of in-network eligible charges for routine preventive care services for each covered person.
Vision Care Plan
Managed vision care available through participating provider network. Spouse and/or family plan available. Premium is employee paid by pre-tax payroll deduction.
Optional Basic and Comprehensive dental plans cover preventive, diagnostic services (exams, cleanings, fillings and x-rays).
Thrift Plan – 401(k) Savings PlanOptional plan allows employees to participate in the 401(k) plan the first of the month following their date of hire. Employees may contribute 1 to 75 percent of salary on either a pre-tax or after-tax basis unless limited by IRS regulations. Farm Credit East matches dollar for dollar on the first six percent contributed.
Employer Contribution Plan
Farm Credit East contributes to employee accounts in amounts equal to two to nine percent of their covered compensation for each pay period depending on length of service
Disability and Insurance Benefits
After being disabled 90 calendar days, employee is eligible to collect 66-2/3% of current monthly base salary, less any social security benefits, worker’s compensation or any other state benefits currently collecting at time of disability to a maximum of $17,500 per month. Payments are taxable income.
Business Travel Insurance
Employer-paid insurance covers accidental death or dismemberment that may occur while traveling on company business. This is equal to three times the employee's benefits-eligible earnings to a maximum of $1,500,000.
Life Insurance, including an equal amount of Accidental Death and Dismemberment (AD&D) coverage (for employees only — not dependents) is provided at two times the employee's benefits eligible earnings to a maximum of $1,500,000.
Employees also have the option to purchase additional Basic Employee Life Insurance/ AD&D Insurance in the amount of 1x benefits eligible earnings.
Group Term Life Insurance
Optional program allows employees to purchase additional term life insurance at one to five times their current annual base salary to a maximum of $1,500,000. Premium is based upon age and is payroll deducted.
Accidental Death and Dismemberment Insurance
Farm Credit East pays up to two times current base salary or $1,500,000 (whichever is less). The plan covers employees or employees and their families in the event of a death or dismemberment as a result of an accident.
Accrues at the rate of 12 to 22 days per year depending on length of service.
Accrues at 6 to 12 days per year depending on length of service.
Farm Credit East recognizes 12 holidays, one to three of which (depending on the year) are floating holidays and can be used at any time.
Optional spending accounts allow payroll deductions to be made on a pre-tax basis to pay for health-care expenses not covered by the medical or dental plans and/or dependent-care expenses.
Tax exempt reimbursement for lost wages, time, or medical expenses due to job-related injuries or illnesses.
The federal government administers this program that provides benefits related to retirement, death or disability. There is also a health-care provision intended mainly for persons age 65 or over. The employer and employee pay equal amounts toward funding this program.
- Tuition assistance
- Employee Assistance Program
- Prescription drug plan
- Computer Purchase Plan
- Internal and external training opportunities
- Medical leave
- Military leave
- Funeral leave in the event of death of a relative
- Leave for court service, jury duty and other circumstances that require employees to be absent for reasons other than their own illnesses or injuries
This summary sets forth general statements of employer policy and is not intended to be, nor should it be construed as, a contract between the employer and employee or a promise of treatment or coverage and is subject to change at any time.