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| Benefits For Your Family |
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Life Insurance Plan
Life Insurance coverage is automatically provided by Black & Decker to all eligible employees. In addition, Black & Decker offers additional insurance coverage for employees and their family members at a very low cost.
Automatic Coverage
Black & Decker automatically pays for three types of life insurance coverage for all employees, including:
- Basic Term Life Insurance, which equals two times annual base pay.
- Accidental Death and Dismemberment (AD&D) coverage which equals two times annual base pay.
- Travel Accident coverage, which provides at least $100,000 in coverage for all employees. Beneficiaries receive benefits if an employee dies or loses a limb or their eyesight in an accident while traveling on Company business.
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 six months employees are unable to work, short term disability benefits replace 67% or 100% of their pay, depend¬ing on whether they are non-exempt or exempt. 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 employ¬ees who have dependent care expenses that meet federal qualification requirements.
Employees may set aside up to $5,000 per year through payroll deduc¬tion 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
Black & Decker 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.
Adoption Benefits
Employees may receive reimbursement of 50% of eligible adoption expenses, to a maximum of $5,000. The reimbursement represents taxable income to the employee. Benefits are limited to one adoption per employee per year
Sales to Employees
Our employees often wish to purchase Black & Decker products for their personal use or for gift-giving. For their convenience, we offer Black & Decker merchandise at reduced prices in our company stores and services centers.
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