HR Benefits Summary 2011

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HR Benefits Summary 2011 Powered By Docstoc
                Boston VA Research Institute, Inc.
                150 S. Huntington Avenue (151B)
                Boston, MA 02130
                Telephone: (617) 738-1313 Fax: (617)738-8480

                                         As of January 2010
Below is an outline of the benefits offered to BVARI full-time employees:

       Health Insurance and Dental Insurance:
       BVARI offers health and dental insurance plans to its full-time employees. We offer HMO Blue,
       administered by Blue Cross and Blue Shield, which is the premium health insurance plan that offers $0
       deductibles, and $10 co-pays for doctor’s visits, and provides both network and out-of-network
       coverage. You and BVARI share the premium cost. Actual contributions amounts will be available to
       you upon your date of hire. You will become eligible for your health and dental insurance on the first
       day of employment. Part-time employees are also eligible for this plan but must pay the entire BVARI
       plan premium price out of pocket. The State of Massachusetts requires that all residents must have
       health insurance or face a tax penalty. If you have other health insurance, you must complete a health
       insurance waiver form. Open enrollment for this plan will be June of each calendar year, within 30
       days of new employment, or with the occurrence of a life-changing event.

       Sentinel Benefits:
       Flex Choice FSA covers an extensive range of out-of-pocket expenses. This included everything from
       healthcare deductibles and co-pays, to orthodontics, eyeglasses, contact lens and over-the-counter
       medications. It can help you better prepare for and manage unavoidable out-of-pocket costs while
       reducing your taxes. This will be deducted on a per pay period basis and the amount will be stipulated
       by the employee. All unused balances will be forfeit at the end of the calendar year, and all balances
       must be repaid prior to termination of employment. Open enrollment for this plan will be December of
       each calendar year, or within 30 days of new employment.

       Life and Accidental Death and Dismemberment Insurance:
       All active, full-time (30 or more hours weekly) employees who are U.S. citizens or U.S. residents are
       covered by a life and AD&D insurance policy through the Hartford Insurance Co., which is equal to
       two times his/her annual base salary up to a maximum of $100,000. This is a complimentary BVARI
       sponsored plan.

       Disability Insurance:
       BVARI offers all active, full-time (30 or more hours weekly) employees who are U.S. citizens or U.S.
       residents, coverage by short- and long-term disability insurance through the Hartford Insurance Co.
       This is a complimentary BVARI sponsored plan. You have the option of choosing to pay tax on the
       premium, or pay tax when/if you receive the disability benefit.

       Employee Assistance Program:
       The BVARI sponsored Employee Assistance Program, through Ceridian Lifeworks, is designed to
       assist employee with all life changing events and issues that may arise. This is a no cost program
       available 24/7, to offer help and support. The experienced and caring professionals offer personal and
       confidential advice, online or on the phone.

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       Ethics Hotline:
       The BVARI sponsored program through Ceridian, Inc. is an anonymous and confidential method of
       hearing employees concerns, suggestions and reports of misconduct. Our goal is to assure and enhance
       the integrity, people, processes, and assets needed by all stakeholders of BVARI. We believe that
       BVARI's viability and integrity depend on the protection of our critical assets, including our people,
       physical assets, and our information. There are two methods of submitting a report- via telephone and
       through the web site. Further information will be provided at the new hire orientation.

       Retirement Plan:
       BVARI has implemented a retirement plan, which you can contribute to at any time during your
       employment. Upon completion of all service and hours requirements, BVARI will contribute a
       discretionary matching contribution and a Board Designated contribution to all eligible employees
       retirement plan. Please see the Director of Human Resources, Ivette Arias, for further details on
       matching contributions and other plan highlights. We will have quarterly enrollment, changes and
       financial analysis meetings with the Plan Analyst, Gary Najarian.

       MBTA Corporate T-pass Program:
       BVARI will provide monthly Charlie Cards or Tickets to full-time employees that commute to and
       from work on a daily basis. The BVARI contribution will be 80% of the total monthly costs. In order
       to qualify, employees must enroll in the BVARI corporate t-pass program, and sign a fraud and use
       policy agreement. The difference of the t-pass price and the monthly BVARI contributions will be
       deducted through payroll withholding at the end of each month. Termination from the program must
       be in writing, or upon termination of employment. Part-time employees will be eligible for a reduced
       contribution based on worked hours.

       Earned Time Benefits:
       Rather than offering, sick time and vacation time benefits, BVARI has an earned-time benefit program,
       which allows you to select the way you are paid for the days you request time off. The accrual rates
       are available in the personnel manual, which is on the BVARI website, . Part-time
       employees who work over 20 hours per week will accrue at a pro-rated rate. The total amount of hours
       available for carry over to the following fiscal year is 160 hours.

       BVARI observes ten paid federal holidays per year. You must be scheduled to work on the observed
       holiday in order to receive compensation. Part-time employees who work over the 20-hour workweek
       shall be paid at a pro-rated rate.

       BVARI Website:

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