2008 Employee Benefit Profile
This statement is a brief outline of the benefits that are provided to you by L. R. Webber Associates, Inc., as well as the cost of those benefits
annualized. Please read this information carefully. If there is a specific benefit that you would like to discuss in further detail, please do not
hesitate to contact Beckie. I encourage you to share this information with your family. It is my hope that your benefit package will provide
added security for you and your family members. I appreciate your contribution to the continued success of our Company.
2008 Annual Wages: $ 24,000.00
*Pay for Time Worked: $ 21,507.68
**Taxable Benefits: $ 2,492.32
2008 Profit Sharing Bonus: $ 600.00
***Non-Taxable Benefits: $ 8,122.07
Benefits are 52% of Pay For Time Worked TOTAL COMPENSATION: $ 32,722.07
or 34% of Total Compensation.
The bar chart below illustrates the portion of your benefits for which L. R. Webber Associates, Inc. pays compared to
what you pay for your benefits.
You are enrolled in the UPMC PPO Plan. This plan provides coverage for routine exams, immunizations, hospital, doctor, and other
charges stemming from treatment of an injury or illness. Medical care that is performed by an in- network provider is subject to a $1,250
individual deductible ($2,500 family). Medical care is also available by out-of-network providers subject to a $2,500 individual
deductible ($5,000 family) and a 40% coinsurance payment. In order to help offset the employee out of pocket expense the Company
reimburses any in-network deductible that is incurred through a Medical Expense Reimbursement Plan (MERP). The out of network
deductible and coinsurance do not qualify for reimbursement by the MERP. Retail prescription drugs are covered under the plan at
participating pharmacies subject to a $15 copayment for generic drugs, a $30 copayment for preferred brand name drugs, and a $50
copayment for non-preferred brand name drugs. There is a mail order program available that provides a 90 day supply of maintenance
drugs for only two times the retail copayment charge. For information on the health care program please see your plan summary or ask
The Company offers a Direct Reimbursement Dental/Vision plan. The plan offers up to a total of $300 in reimbursement for out-of-pocket
dental and/or vision expenses for you and your family members.
L.R. Webber Associates, Inc. offers a discount card for you and your eligible dependents. The card offers you discounts on exams,
contacts, glasses and other vision-related expenses when you utilize a participating National Vision Administrators' provider. See the
information you received from NVA in the mail or ask Beckie for more details about this program.
Each employee has the opportunity to set aside funds on a pre-tax basis for a Flexible Benefits Plan. The Medical Flexible Spending
Account is used for your out-of-pocket medical, dental, vision, and/or hearing expenses; and the Dependent Care Account may be used for
your out-of-pocket child care expenses. There is a $5,000 annual contribution maximum for medical flexible spending accounts and a
$5,000 annual contribution maximum for dependent care expenses.
In the current plan year, you elected to set aside $800 in your Medical Flexible Spending Account and $0 into your Dependent Care
In the event you are unable to work due to an off-the-job illness or injury, Webber Associates provides weekly Short-Term Disability
benefits for all full-time employees. Benefits begin on the sixth day of absence due to an injury or an illness. Payments will continue
during disability up to the maximum amount of time that you are eligible to receive based on your length of service with the Company.
The plan pays 100% of your covered weekly compensation. See your benefits manual or Beckie for more information about this benefit.
If you are a full-time employee and are disabled for more than 90 calendar days, you may receive up to 60% of your monthly salary which
was equal to $1,200 in 2008. Disability benefits will continue to age 65 or until your disability ends as defined in the contract. It is
important to note that this benefit is integrated with statutory disability benefits such as Workers' Compensation and Social Security. For
additional information about this plan, please refer to your plan booklet.
Webber Associates provides group life benefits in an amount equal to one-times your prior W-2 wages (or your current annual salary if
you are a new hire or in your first year of full-time employment with the Company). This amount is doubled if your death is the result of
an accidental injury. This plan also provides a benefit for some accidental dismemberment injuries.
You also have the opportunity to purchase, through payroll deduction, additional life insurance on yourself, your spouse and/or your
eligible dependents at low group term rates. This coverage is provided through AIG. Below is a summary of the amounts that you are
currently enrolled in:
Additional Life Insurance on Yourself $0
In addition to the Basic Life and AD&D insurance, the company provides you with travel accident insurance. This coverage provides an
additional level of accidental death and dismemberment coverage if injured in an automobile, airplane, train, etc. The coverage is in effect
while traveling on business or for personal travel.
Webber Associates provides full-time employees with a base long-term care benefit through UNUM. The base plan offers professional
nursing home care coverage up to $4,000 per month for up to 3-years. Employees may also buy additional coverage by way of the
monthly benefit amount, in-home care, longer duration of coverage and/or an inflation protection rider. These buy-up options are offered
at low-group rates. The coverage is also offered to spouse, parents, grandparents, and siblings at the same low group rates that employees
are offered subject to medical underwriting and approval by UNUM. You participating in a buy-up option for yourself.
As required by Federal Law, your employer is required to contribute an amount equal to your own total Social Security contribution.
Monthly Social Security benefits may go to you and/or your dependents when you retire, become severely disabled, or die. The amount of
any benefits will depend on prior earnings, adjusted to account for changes in wages since 1951. The local Social Security office can assist
you in getting a benefits estimate, which will enable you to determine the level of benefits for which you are eligible.
You or your survivors are eligible for workers' compensation benefits if death or disability results from an occupational illness or injury. In
cases of disability, your employer's policy carrier will pay all reasonable medical expenses related to your injury, as well as provide you
with a percentage of your weekly wage. If death occurs as a result of the occupational injury or illness, your eligible survivors may be
eligible to receive a lump sum funeral expense benefit, as well as a weekly survivors' benefit.
Webber Associates has adopted a generous Profit Sharing Plan designed to help provide you with future security and to reward you for
contributing to the Company's success. All employees who have completed one year of service, worked at least 1,000 hours, and are at
least eighteen (18) years of age are encouraged to participate in this Plan and begin saving for your retirement.
The Plan consists of two parts:
The first part of the Plan is based on your personal contributions. You may contribute a portion of your annual salary up to the limitation
determined by the IRS on a yearly basis. Any contributions you make will be 100% vested and will lower your taxable federal income.
Your current annualized 401(k) contribution is $500 or 2.08% of your annual wage.
The second part of the Plan is employer funded. A 3% contribution is required so that the Plan may be operated as a safe harbour 401(k)
plan. The Company may also make a discretionary.contribution, which historically equated to an additional 7% contribution to eligible
participants. Each year, the Company will determine if the discretionary contribution is to be made based on profitability and other
business considerations. The amount noted to the right is the estimated Company contribution, which may be made on 5/31/09.
Employees earn vacation based on their length of service and position with the Company. In 2008, you are eligible to receive
compensation for 10 vacation days.
Webber Associates recognizes eight and one-half (8.5) paid holidays: New Year's Day, Good Friday (1/2 day), Memorial Day,
Independence Day, Labor Day, Thanksgiving (2 days) and Christmas and New Year's Eve. Holidays are announced prior to the start of a
new calendar year.
All full-time employees of Webber Associates are eligible to receive two (2) compensable personal days per year.
For your protection in the event of illness or accident, sick leave is available annually based on your length of service with the service with
the Company. Sick days may also be used for a legitimate illness or accident on the part of a family member when such illness or accident
makes your absence from work unavoidable. Family illness days are credited against your allowable incidental illness days.
Webber Associates allows you to participate in the profits of the Company. If the Company makes a profit during the fiscal year, a portion
of the profit may be paid out in the form of a cash bonus. In 2008, you received a profit sharing bonus equal to the amount at the right.
In the event of a death of a family member or friend, you may be granted up to five (5) days off with pay. The amount of time off is based
on your relationship to the deceased. See your benefits manual for more details.
As an employee of Webber Associates, you may be entitled to the following benefits:
* Educational Assistance
* Christmas Bonus
Computations are based on your current compensation and benefit plan provisions that you current have or will have upon meeting the eligibility requirements
of the benefits outlined. Every effort has been made to ensure that the information in this summary is accurate; however, no warranty of complete accuracy is
made. If a discrepancy is found to exist between your benefit statement and the Summary Plan Description (SPD) or Bank policy, the provisions of the SPD or
policy will govern.
* Pay for Time Worked reflects your annual income as of June 2008 minus Taxable Benefits.
** Taxable Benefits include: Vacation pay, holiday pay, personal days, and sick days.
*** Non-Taxable Benefits are the sum of all benefits included in the right hand column under "Employer Contribution" with the exception of taxable benefits
indicated above and your 2008 Year-End Bonus, which is listed as its own benefit total..