Benefits
As an employee with CommonBond Communities, you’ll receive a strong compensation and benefits package including competitive pay, medical, dental, life and disability coverage, a 401K retirement plan, and personal time off.
2011-2012 BENEFITS SUMMARY.doc
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CommonBond's personal benefits include:
- Paid time off
- 11 paid holidays
- Payroll direct deposit option
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Personal Benefits
PTO (Personal Time Off)
PTO allows the opportunity for employees to balance their work and personal life. PTO can be used for vacations, holidays, illness and personal days – however the time best fits your needs. Accrual begins as of the first day of regular employment. Year-end carryover is limited to one full year’s accrual at the employee’s current accrual rate. Employees working less than 40 hours per week earn a prorated amount of PTO.
Holidays
The following is a list of holidays recognized by CommonBond Communities. Eligible employees will be given the day off with pay.
| Paid Holidays |
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New Year’s Day
Martin Luther King Day
Presidents Day
Spring Holiday (Friday)
Memorial Day |
Independence Day
Labor Day
Thanksgiving Day and the day after Thanksgiving
Winter Holiday Dec. 24
Winter Holiday Dec. 25 |
| Leaves of Absence |
| Paid |
Unpaid |
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Jury Duty
Funeral Leave
Military Leave
Voting Leave |
Personal Leave
Parenting Leave
12 Weeks Family and Medical Leave
16 hours to attend school-related functions |
Pay Periods and Direct Deposit
CommonBond employees are paid every other Friday, generally 26 paychecks per year. Employees have the option to directly deposit their net earnings in up to three checking or savings accounts.
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CommonBond's insurance benefits include:
- Health insurance plan and health savings account, or HSA
- Cafeteria benefits package that allows you to choose and pay for only the benefits you want
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Insurance Benefits
Active, regular fulltime employees working 32 or more hours per week are eligible for insurance benefits the first of the month following 30 days of employment.
Health - Medica
CommonBond Communities offers a high deductible health plan (HDHP) through Medica. We have a number of coverage plans, including employee, employee+1, family, and domestic partner. Employees can choose the level of coverage they want.
Health Savings Accounts – Wells Fargo
A Health Savings Account (HSA) provides an opportunity to set aside money on a pre-tax basis in a tax-sheltered trust account. Contributions may be made through regular pre-tax payroll deductions, lump sum pre-tax deductions, or after-tax contributions.
Dental – Met Life
This is a voluntary benefit for employees and their family. Preventive and basic services are covered at 100% and major services are covered at 60% up to a $2,000 plan year maximum at participating in-network dental clinics.
Other options include:
- Life and Accidental Death & Dismemberment - Unum
- Long-Term Disability - Unum
- Short-Term Disability - Unum
- Voluntary Life and Accidental Death & Dismemberment Unum
Life insurance and accidental death and dismemberment coverage is available for employee, spouse and/or dependent children (premium is employee paid).
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CommonBond's additional benefits include:
- Health and child care flexible spending accounts.
- Employee assistance program
- 401k program
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Additional Benefits
401(k) RETIREMENT SAVINGS PLAN - ADP
Regular full-time and regular part-time employees are eligible for coverage the first of the month following 3 months of employment. Other part time employees are eligible after 1000 hours of service in a year. Plan allows for pre-tax salary deferrals up to the maximum allowable under law. CommonBond matches 100% of the first 1% and 50% of the next 5% of wages an employee contributes. Match is deposited bi-weekly and is vested after two years.
FLEXIBLE SPENDING ACCOUNTS - Optum
Employees may establish flexible spending accounts with pre-tax dollars and use those accounts to cover certain health care and/or dependent care expenses. We use the services of a third-party administrator called Optum. Employees may receive reimbursements by check or direct deposit.
- Health Care FSA: The Full Scope healthcare FSA is for those who do not participate in a Health Savings Account and may be used to cover health care expenses that are not paid by health or dental insurance, or other sources. The Limited Scope healthcare FSA is for those who participate in a Health Savings Account, and is limited to use for vision and dental (including orthodontic) expenses.
Dependent Care FSA allows you to establish an account and use that the dollars to cover eligible expenses related to caring for your dependents while you are working.
