Benefits
EMPLOYEE STOCK OWNERSHIP PLAN (ESOP)
The Employee Stock Ownership Plan (ESOP) provides employees with shares of company stock at no cost
to the employee. The amount of stock you receive and the value of that stock increases or decreases
based on the profitability of the company. The ESOP plan is a tremendous opportunity for you to share
in the profits of the company - profits which are generated by the hard work of the employees.
In addition, Garney has a 401k feature in the plan that allows you to save part of your pay for retirement
before federal income taxes are withheld.
You are eligible to receive stock as of the first day of the year in which you first complete 1,000 hours of
service. Upon so becoming eligible, the amount of company stock you receive is based on your total compensation
for the entire Plan year.
GROUP HEALTH / LIFE / DISABILITY INSURANCE
Active hourly field employees who have 6 months continuous service with Garney receive group health, dental, life
and disability insurance. The cost for the employee only is $0.50 per week. The effective date for coverage is the
first of the month after a 6-month period of continuous service.
Employees can also enroll their family in the health insurance plan. The payroll deduction for family coverage is
$10.00 per week. Family members are not eligible for life or disability insurance.
In conjunction with the group health plan, Garney offers a "Cafeteria Plan." Once enrolled in the Cafeteria Plan,
the premiums you pay for health insurance are deducted from your wages "pre-tax", thus your benefits are not subject
to Federal income, Social Security or Unemployment taxes. Employees in the health plan can also elect weekly, pre-tax
deductions for a Flexible Spending Account (Medical Reimbursement Account and/or Dependent Care Account).
VACATION INCENTIVE PROGRAM
The vacation incentive program is available for all field employees who work a minimum of 1,000 hours during a
calendar year and are actively employed at the end of the program year.
Around the middle of December each year, the Payroll Department will compile a list of all eligible employees
and the total number of hours worked by each employee for that particular year. The Company will award those
employees an incentive check equal to 2% of their earned base wages for the year. This check should be equal
to approximately one week's wages for an employee who works the entire year.
A payroll check for the amount of the Vacation Incentive will be prepared and distributed by year-end.
(These benefits are provided to employees not covered by a collective bargaining agreement)
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