HEALTH BENEFITS
Medical Benefits
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month following the hire date
Employee Cost
Premiums are deducted on a pre-tax basis and rates vary on the plan, level of coverage, and whether the employee and covered spouse are nicotine free. On average, the employee will pay 45% of the premium, PMC pays 55%.
Benefits Summary
We offer two plans (Basic and Premium) and four levels of coverage through United Healthcare. Employees have the option to elect enrollment in the Company’s Standard (nicotine users) rate plan or become members of the Healthy Workplace Plan (for nicotine-free employees and covered spouses) which offers deeply discounted premium rates in exchange for members’ commitment to remain nicotine free and actively participate in a series of wellness initiatives.
Dental Benefits
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month following the hire date.
Employee Cost
Premiums are deducted on a pre-tax basis and vary according to the level of coverage. On average, the employee will pay 40% of the premium, PMC pays 60%.
Benefits Summary
Deductible - $50 per person per plan year; $150 per family per plan year. $1,500 annual maximum benefit per covered person. 100% coverage on Preventive Expenses, such as checkups. No deductible (2 visits per person per plan year). Basic Services - Pays 80% for allowable charges after deductible. Plan benefit includes a maximum annual rollover benefit feature. Orthodontic Services for children up to age 19 - $1,000 lifetime benefit, no deductible, pays 60% of allowable charges.
Vision Benefits
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month following the hire date.
Employee Cost
Premiums are deducted on a pre-tax basis and vary according to the level of coverage. On average, the employee will pay 40% of the premium, PMC pays 60%.
Benefits Summary
Provides coverage for annual vision exams and the purchase of eyeglasses, frames and contact lenses.
Flexible Spending Accounts(FSA)
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month after date of hire.
Employee Cost
FSA deferrals are paid 100% by employee.
Benefits Summary
Accounts into which pre-tax earnings are set aside to pay for qualified health and dependent care expenses not covered by other benefit plans. There are two accounts available: one for Healthcare expenses and one for Dependent Care expenses. Contribution limits are set annually. Deductions are withheld in either 12 (monthly paid) or 24 (biweekly paid) installments.
Long-Term Disability Insurance
Eligibility
Active full-time employees working 30 hours or more per week. Effective on first day of month after 90 days of service.
Employee Cost
Premium cost is shared equally between PMC and the employee.
Benefits Summary
Benefit provides income after 60 continuous days of disability due to injury or illness. When approved, benefits are eligible from the 61st day of disability. Benefit is based on 60% of employee’s monthly earnings not to exceed a maximum benefit of $10,000 per month.
Short-Term Disability Insurance
Eligibility
Active full-time employees working 30 hours or more per week. Effective on first day of month after 90 days of service.
Employee Cost
Employee pays 100% of premium cost.
Benefits Summary
Benefit provides income after 7 consecutive calendar days of disability due to injury or illness. When approved, benefits are eligible from the 8th day of disability up to 8 weeks maximum. Benefit is based on 60% of employee’s weekly earnings not to exceed a maximum benefit of $1,000 per week.
Employee Assistance Program
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month after date of hire.
Employee Cost
Premium is paid 100 % by PMC for employee and dependents.
Benefits Summary
Program is available for all employees and their dependents for confidential assistance in dealing with personal concerns. Benefit equals 6 sessions X $100 per session or $600 per employee and dependent per year.
Co-paid Term Life/AD &D Insurance
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month after 90 days of service.
Employee Cost
PMC pays 100% of the premium cost.
Benefits Summary
Benefit equals two times the employee’s annual base earnings rounded up to the next highest $1,000 with a maximum coverage of $350,000. In the event of an accidental death, an additional two times the employee’s annual base earnings is payable not to exceed $350,000. Accidental Death & Dismemberment (AD&D) benefits are included at no additional charge.
Optional Term Life/AD&D Insurance
Eligibility
Active Full Time working an average of 30 hours or more per week. Effective on first day of month after 90 days of service.
Employee Cost
Employee pays 100% of the premium cost.
Benefits Summary
Fixed amounts of term life insurance and accidental death coverage may be purchased for the Employee, Spouse, and covered Dependents.
Cancer, ICU, Accident and Other Supplemental Insurance
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month after date of hire.
Employee Cost
Employee pays 100% of the premium cost.
Benefits Summary
This benefit is offered by a third party provider selected by Puckett Machinery Company.
FINANCIAL BENEFITS
Family Fund
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective on first day of month after 90 days of service.
Employee Cost
Employee pays $3.00 per month; PMC matches contribution at $3.00 per month.
Benefits Summary
This fund assists participating employees with special needs, supplement maternity expenses, assists during a long-term disability, as well as assisting with other hardships. Managed by a Chairperson and Committee elected each year by participating employees.
Credit Union
Eligibility
Active full-time employees working an average of 30 hours or more per week. Effective upon completion of 90 days of service.
Employee Cost
Membership is $1 plus a minimum $6 savings deposit.
Benefits Summary
Membership in Construction Equipment Federal Credit Union (CEFCU) is available to employees and dependents. CEFCU offers full service banking and is ranked among the top 15 credit unions in the United States.
401(k) Retirement Savings Plan
Eligibility
All regular employees with at least six months of service and at least 19 years old. Entry dates are January 1 and July 1.
Employee Cost
Employees contribute a percentage of their compensation on a pre tax basis.
Benefits Summary
Employees may contribute a designated amount of their gross wages on a pre-tax basis (subject to a maximum dollar amount established by law). PMC will match a minimum of $.50 for every $1.00 contributed up to 6% of the employee’s gross pay. Employees currently have a wide selection of funds to direct the investment of their 401(k) accounts.
Service Awards
Eligibility
Active full-time employees working an average of 30 hours or more per week.
Employee Cost
Cost of program is paid 100% by Puckett Machinery Company.
Benefits Summary
Puckett Machinery Company points with pride and appreciation to its many long standing employees.Awards are presented to employees at each 5-year service milestone.
Tool Insurance
Eligibility
Active full-time employees working an average of 30 hours or more per week.
Employee Cost
Employee pays either $1 or $2 (depending on coverage elected) and PMC pays remaining cost.
Benefits Summary
Provides protection for the substantial investment made in personally owned tools. Maximum coverage available is either $2,000 or $4,000 at a cost of $1 or $2 respectively per bi-weekly payroll period. Losses covered by this program will be paid, less a $50 deductible.
Tool Purchasing Plan
Eligibility
Active full-time and part- time employees.
Employee Cost
Employee pays 100% of cost.
Benefits Summary
Tools which you can use on the job, may be purchased from or through Puckett Machinery Company, at cost plus applicable Mississippi State or Use Tax. Purchases can be made through payroll deduction.
HOLIDAYS
Eligibility
Active full-time employees working an average of 30 hours or more per week.
Employee Cost
Funded 100% by Puckett Machinery Company.
Benefits Summary
The following holidays are recognized by PMC and are provided to our employees for enjoyment and relaxation:
• New Year's Day • Memorial Day
• Independence Day • Labor Day
• Thanksgiving Day • Christmas (2 days)
Paid Time Off
Paid Time Off (PTO) is intended to provide employees the flexibility to use paid time for personal reasons such as rest and relaxation, leisure and vacation, personal or family illness, outside appointments, and other activities.
• Full-time regular employees earn PTO based upon their years of completed service. Regular employees who routinely work at least 30 hours but less than 40 hours per week are entitled to earn PTO on a pro-rata basis.
• An employee’s PTO year begins on the first day of the month of their hire date and ends on the last day of the month prior to the start of their next anniversary date.
• PTO may be used for any reason including vacation, illness, or other personal situation.
• PTO is granted as follows based on years of completed service:
|
Years of Service |
PTO Granted |
|---|---|
| First twelve (12) months of service for both new hires and rehires | 40 hours (equivalent of 5 days), available on the first day of the month in which 6 months of service begins |
| At least one (1) full year but less than ten (10) full years of service as of anniversary month | 120 hours (equivalent of 15 days), granted on the first day of the anniversary month |
| Ten (10) or more full years of service as of anniversary month |
160 hours (equivalent of 20 days), granted on the first day of the anniversary month |