The United Illuminating Company provides employees the ability to participate in an extensive, competitive benefits program that supports health and welfare, retirement , income protection, family security, and work life support.
Health and Welfare Benefits
We offer several choices which include HMO’s or Point of Service plans with Health Net. The plans cover physician visits, hospital service, prescription drugs, as well as other specialized services. Eligibility is the first day of the second month following employment.
There are two options to chose from that provide in network and out of network benefits. The plans differ in cost and plan design to fit each employees personal needs. Eligibility is first day of the second month following employment.
Flexible Spending Accounts
Allows voluntary pre tax contributions to be set aside on a calendar year basis for qualified healthcare and dependent care expenses. Employees can contribute up to a maximum of $5,000 peryear for healthcare and $5,000 per year for dependent care.
The UI provides both short and long term disability benefits. Short term coverage is provided at no cost to employees and covers 100% or 50% of your salary depending on length of service.
Long term coverage provides disability income protection after 26 weeks of total disability. The company provides at no cost to employees coverage equal to 50% of your monthly salary up to $1500 per month. Employees have the option to increase coverage to 60% or $3000 per month which requires an employee contribution.
UI offers a 401(k) plan which allows employees to contribute up to 75% of their salary on a pre tax basis until contributions meet the federal ERISA plan limits . Employees are fully vested in their money and company match as soon as they begin participating in the plan.
In addition, the company provides an automatic annual contribution of $1,000 plus 4% of an employee's total eligible compensation. Vesting for these contributions occurs gradually over 5 years of service.
Coverage is provided by the company at one times your annual salary at no cost to employees to a maximum of $150,000. Employees may purchase supplemental coverage up to three times their annual salary.
To encourage self development, the company provides financial assistance for employees for educational courses and degree programs. The company reimburses at 85% the cost of tuition and fees. There is a degree maximum reimbursement which varies by type of degree attained.
Employee Assistance Program (EAP)
The company provides private confidential counseling service to assist employees and their family members in resolution of personal problems.
Pre Tax Transportation Program - Deduct -A-Ride
This program allows employees to set aside pre tax income to pay for commuting costs. This program supports both public transportation and parking expenses.