Employees of CDS have the opportunity to participate in a Preferred Provider Organization (PPO) medical plan or a Health Maintenance Organization (HMO) medical plan. The type of plan offered is determined by where an employee resides. Employees pay reasonable co-payments of not more than $15 when visiting a primary care physician. Other medical costs are paid in accordance with a written schedule of benefits as published by plan in which they have enrolled. Employees pay approximately 11 percent of the monthly insurance premium through payroll deduction; CDS Group pays the remaining 89 percent. Eligibility begins on the first of the month following 30 days of service.
Prescription drug coverage is included in the medical plans on a co-payment basis. The employee portion of the cost of covered prescriptions is based on a written schedule of benefits as published by the PPO or HMO. For recurring prescriptions, a prescribed medication may be filled through a mail order program.
The dental plan pays 100 percent of preventative services. After a $50 deductible ($150 maximum per family) is satisfied, the plan covers basic services at 80 percent and major services at 60 percent. The cost of this benefit is included in the monthly insurance premium as referenced in the Medical Insurance section. Eligibility begins on the first day of the month following 30 days of service.
Vision exams are covered in full every 12 months when using providers who are part of the vision insurance network. Lenses and frames or contact lenses are covered every 24 months. The cost of this benefit is included in the monthly insurance premium as referenced in the Medical Insurance section. Eligibility begins on the first day of the month following 30 days of service.
Flexible Spending Accounts
Health Care Spending Accounts and Dependent Care Spending Accounts allow employees to pay for eligible expenses with pre-tax dollars. Employees may enroll in these accounts each December for the following calendar year. Both accounts are regulated by the IRS.
CDS provides group life insurance coverage at an amount of two times an employee’s annual salary. This benefit is currently provided at no charge to the employee and becomes effective on the employee’s hire date.
Full-time employees who are employed for one month or more may be eligible for salary continuation benefits during a leave of absence under CDS’ Short-term Disability Plan. The Short-term Disability Plan is offered to continue at least a portion of compensation during periods in which the employee is unable to work due to a medical disability. This benefit is currently provided at no charge to the employee.
This plan provides salary continuation benefits for employees who have been disabled longer than six months. Employees may receive up to 60 percent of their salary during the disability period until age 65. This benefit is currently provided at no charge to the employee. Eligibility begins after one year of service.
401(k) Savings Plan
This is a retirement savings plan that allows participants to save a portion of their earnings on a tax-deferred basis. Employees may contribute up to 15 percent of their pre-tax earnings into a 401(k) account and can allocate the contributions among seven mutual funds. After an employee completes one year of service, CDS will make a “basic” contribution of two percent of the employee’s annual earnings to his/her account. CDS also will make a “matching” contribution of up to two percent of the employee’s earnings per year. Full vesting occurs at five years of employment.
Employee Stock Ownership Plan (ESOP)
Each employee has the opportunity to participate in the profitability of the company through this program. Annual contributions are made to participants’ accounts based upon the combined profitability of all Ontario Corporation operations. CDS employees become participants in the ESOP on June 30 or December 31 based on length of service and attaining age 21. Full vesting occurs after five years of employment.
Tuition/Continuing Education Reimbursement
CDS will provide financial assistance to employees who wish to continue their education either through an accredited college-level program or company approved training institute. Areas of study must be job-related. Interested employees must follow appropriate approval procedures.
Vacation and Sick Days
Full-time employees earn vacation days and sick days based on their length of service.
CDS employees receive paid time off for specified annual holidays.
Employee Assistance Program
Employees dealing with the pressures of everyday life may need to seek objective, confidential assistance from a trained counselor. The Assist U Employee Assistance Program offers telephone consultations with specialists who can provide assistance with personal problems and relationships; parenting, family and work-balance issues; legal or financial concerns; child care or elder care matters; or substance abuse/addiction issues. Employees also may request referrals to local professionals for one-on-one consultations. The first three visits to professionals dealing with mental health or substance abuse issues are at no charge to the employee. Subsequent visits would be paid according to the benefits outlined in CDS health insurance program.