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Employee Benefits

Overview of Benefits (US Employees)
InfoTrends owes much of its success to the quality of its employees and strives to make the working environment of each employee stimulating, congenial, and rewarding. Listed below are just a few benefits that are offered to all InfoTrends employees.

Medical Insurance
Coverage under the medical plan is contributory, meaning that an employee who elects to participate in the plan makes monthly contributions toward the cost of coverage. These contributions will be made on a pre-tax basis through payroll deduction. Many preventative and routine procedures are 100% covered, typically accompanied by a co-pay.

Dental Insurance
All regular full-time employees are eligible to enroll in the company’s dental insurance plan at their effective date of hire. Coverage under the plan is contributory, which means that an employee who elects to participate in the plan makes monthly contributions toward the cost of coverage. These contributions may be made on a pre-tax basis through payroll deduction.
Many preventive and diagnostic procedures, including fluoride treatments, cleanings, and x-rays, are covered at 100% of reasonable and customary charge, with no cash deductible. Basic restorative procedures (such as fillings, extractions, and periodontics) are covered at 80% of reasonable and customary charge, while major restorative work (such as crowns and installation of dentures or bridges) is covered at 60% of reasonable and customary charge. A cash deductible must be met for basic and major restorative procedures each calendar year. Maximum per member per calendar year is $1,500.

Retirement Plan
All regular full-time employees are eligible to participate in a Tax Sheltered Annuity Program (401(k)) as a means of saving for retirement.

Employees may make contributions to an account under the 401(k) program on a pre-tax basis through salary reduction. This allows participants to reduce their current income taxes, because they will not be taxed on the amount they contribute at the time of contribution, and defer payment of any tax on moneys contributed until those moneys are withdrawn at retirement. Employees should note that any withdrawal or distribution from a 401(k) account before age 59 1/2 is currently subject to a 10% excise tax, and the entire distribution or withdrawal and interest payment will be treated as taxable income in the year it is taken.

Participants may choose how they would like to invest their account from a wide array of tax-deferred investment opportunities that InfoTrends makes available. An employee’s maximum contribution to the 401(k) plan is determined by law, and it is affected by past contributions, current salary, and length of service.

PSA-Pretax Spending Accounts

All full-time and regular part-time employees are eligible on an annual basis to participate in InfoTrends’ Medical Care Reimbursement Account and Dependent Care Assistance Account.

The Medical Care Reimbursement Account allows an employee to save on federal and state income taxes by using pre-tax dollars to pay for medical or dental expenses not covered by InfoTrends’ insurance plan.

The Dependent Care Assistance Account allows an employee to use pre-tax dollars to pay dependent expenses that normally would have to be paid out of after-tax earnings.

Under the PSA Plan, an employee elects to reduce his/her salary and sets aside sums for his/her Medical Care Reimbursement or Dependent Care Assistant Accounts. There are limits on how much an employee may set aside each year. Please note that under IRS rules, any money set aside in an account that has not been spent by the end of the calendar year for which it was allocated will be forfeited. Furthermore, an employee cannot change his/her election/reduction agreement during the year unless there is a change in family status.

To be reimbursed under the two account options, the employee must submit proof of payment of qualified medical, dental, and dependent care expenses to Accounting on a monthly basis. Reimbursement takes place monthly as well, in accordance with the annual schedule distributed by Accounting.

Short-Term Disability/Long-Term Disability/Life/AD&D
The Company offers all active full-time employees working 22.5 hours Short-Term and Long-Term Disability coverage. These employees are also covered under the Basic Life Insurance and Accidental Death and Dismemberment Plan