Benefits For Your Family
Life Insurance Plan
Life Insurance coverage is automatically provided by Spectrum Brands Hardware and Home Improvement to all eligible employees. In addition, Spectrum Brands Hardware and Home Improvement offers additional insurance coverage for employees and their family members at a very low cost.
Spectrum Brands Hardware and Home Improvement automatically pays for three types of life insurance coverage for all employees, including:
- Basic Term Life Insurance, which equals one and one-half times annual base pay.
- Accidental Death and Dismemberment (AD&D) coverage which equals one and one-half times annual base pay.
- Travel Accident coverage, which provides at least $100,000 in coverage for full time employees or $50,000 for part-time employees.
Disability Insurance Plan
The Disability Plan replaces part of employees’ lost income when they are unable to work due to illness or injury, and helps them to return to work. For the first 180 days employees are unable to work, short term disability benefits may be an option. The benefit is equal to 60% of pre-disability base earnings. After employees have been disabled for six months, long term disability benefits are available for regular full-time and regular part-time employees. Dependents are not eligible for this coverage.
Dependent Care Reimbursement Account
The Dependent Care Reimbursement Account gives employees a tax break on the money they spend for child care or elder care while they are at work.
This plan is offered to regular full-time or regular part-time employees who have dependent care expenses that meet federal qualification requirements.
Employees may set aside up to $5,000 per year through payroll deduction on a pre-tax basis. Participants can be reimbursed for day care expenses on a weekly basis.
Child and Elder Care Consultation and Referral Service
Spectrum Brands Hardware and Home Improvement offers employees a comprehensive child and elder care consultation and referral service, free of charge. The service can assist employees in locating regulated providers that may meet their needs.
Employees may receive reimbursement of a maximum of $5,000 for each child you legally adopt. The reimbursement represents taxable income to the employee. The allowance is intended to offset agency charges, legal fees and transportation expenses in teh adoption process.
Sales to Employees
Our employees often wish to purchase Stanley Black & Decker products for their personal use or for gift-giving. For their convenience, we offer Stanley Black & Decker merchandise at reduced prices in our company stores and services centers.