Employee benefits at Beacon
include a broad range of programs to help protect the health, wealth and future
of you and your family. Beacon
invests a great deal in these programs and they represent a substantial part of
your total compensation package.
The following section is
intended to provide a brief overview of the benefit plans which may be
available to you depending upon your eligibility status.
Health coverage that
meets the needs of you and your family is one of the most important benefits
offered to you by Beacon. Beacon
presently offers health insurance through Blue Cross Blue Shield of Rhode
Eligibility begins on the first of the month following or coincident with your date of hire. Your
contribution toward the cost of the plan is published annually in a co-payment
When permitted by law, health insurance premiums may be paid on a pre-tax basis through payroll deduction.
Beacon's dental insurance plan
pays a large portion of the dental care costs for you and your covered
dependents. Beacon presently
offers dental coverage through Delta Dental of RI. Eligibility
begins on the first of the month following or coincident with, your date of
hire. Your contribution toward the
cost of the plan is published annually in a co-payment schedule. When
permitted by law, health and dental insurance premiums may be paid on a pre-tax
basis through payroll deduction.
You will be enrolled
automatically for vision care insurance under the Vision Service Plan (VSP) at
no additional cost to you. Services are provided through a large network of
providers and covers eye examinations, corrective lenses and eye glass frames. Eligibility
begins on the first of the month following or coincident with your date of
Whatever you look forward to
doing after retirement, planning ahead will make it more likely that you will
have the resources available to spend your time as you choose. Beacon's
retirement plan is an important part of that planning and Beacon is committed
to supporting you in your efforts to save by making matching employer
contributions, providing an annual employer core contribution and by offering
additional annual discretionary contributions under certain circumstances. Beacon
will also provide you with a wide array of investment options and periodic
educational programs to assist you with your retirement savings needs.
Beacon understands the value of
building long-term relationships with our employees. The
Loyalty Plan is Beacon's unique way of rewarding our loyal employees who have
partnered with us throughout the years.
Life Insurance and Accidental Death and Dismemberment
Beacon's group life and
accidental death and dismemberment insurance programs help you build financial
security for yourself and your loved ones. The
life insurance available through Beacon is term life insurance, which means you
have the insurance during the time that premiums are paid.
You become eligible for the Group Life Insurance and Accidental Death and Dismemberment Coverage if you are
scheduled to work at least 20 hours per week. Coverage begins the first day of
the month following or coincident with, your date of hire.
Term Disability (LTD)
Beacon provides a Long Term
Disability insurance program at no cost to you. The
LTD program provides for a monthly income when a disability extends beyond 180
Coverage begins the first of the month following or coincident with your date of hire.
Spending Accounts (FSA)
If your budget includes
out-of-pocket health care or dependent care expenses, then your FSA benefit can
increase your income. Flexible
Spending Accounts enable you to pay eligible health care and dependent care
expenses with pre-tax salary dollars. Since
less of your salary is depleted by taxes, you have more money to direct towards
your family's current expenses and future savings.
Assistance Program (EAP)
As the variety of issues in
today's world become more complex and challenging, we may sometimes find
ourselves unprepared to deal with life's ups and downs. As
part of Beacon's commitment to you, your job and your success, it has
contracted with Resource International Employee Assistance Services (RIEAS) to
serve as a confidential, professional resource for helping you and your family
members in your time of need.
Assistance is available 24 hours a day through:
Tuition Reimbursement Program for
Beacon encourages you to
develop your capabilities to the fullest, both for your own benefit and for the
benefit of Beacon's customers. The
Tuition Reimbursement Program allows you to obtain, maintain or improve your
professional abilities through participation in job-related courses or a
job-related degree program at an accredited college or university. To
be eligible, you must be a regular Beacon employee who has attained one year of
service, is scheduled to work 20 or more hours per week, and is currently
meeting performance expectations.
Benefit Program for Children of Employees
encourages you to place a high priority on education for your children as well
and the College Benefit Program for Children of Employees supports your efforts
to provide secondary education for your children. This
program provides reimbursement of eligible educational expenses for the
children of employees who have at least 12 months of continuous service and are
in an active status at the time of both the application and the granting of the
and Development Programs
Beacon commits training
resources for you because we want you to excel in your position. If
our employees succeed then Beacon succeeds. Beacon
demonstrates support for training by offering a wide range of development
programs to help you succeed.