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[ Employee Benefits ]
In addition to competitive
salaries, TransCor offers outstanding benefits to our employees
throughout the country, including health and dental insurance, 401(k),
life insurance and disability. TransCor also uses direct deposit
for payroll checks.
Health Benefits
Enrollment in TransCor’s health insurance plan helps protect
employees and their covered family members against the rising cost
of medical care. Medical benefits are provided through Blue Cross
Blue Shield. TransCor offers two options for employees to choose
from. While both are PPO plans with the flexibility of being able
to go to any provider that accepts BCBS without referrals; Option
1 is a co-payment-based plan and Option 2 is a traditional PPO.
TransCor also offers a dental and vision plan to its employees with
two levels of coverage from which an employee may choose. Employee
premiums for health and dental/vision coverage are deducted on a
pre-tax basis. All benefit options offer employees the flexibility
to choose a plan and tier of coverage that works best for them.
Disability Income Insurance
TransCor offers a voluntary disability income insurance program
that provides 50% of an employee’s income in the event of
a non-work related disability. The plan is a combined short-term
and long-term disability program. Benefits begin after 7 days of
disability for either accident or illness. Employee premiums for
this benefit are deducted after taxes. As a result, any disability
benefits received from the program are income tax free to the employee.
The cost for disability coverage is based upon the employee’s
age and income.
Survivor Benefits
TransCor provides income security through a group term life insurance
program to all eligible employees at no cost. Accidental death and
dismemberment (AD&D) coverage is provided to employees enrolled
in a company sponsored health plan. Additionally, dependent life
insurance is provided for family members of those TransCor employees
covered by dependent health insurance.
Employee Assistance Program (EAP)
This program provides employees and their families with access to
a licensed counselor that can provide three personal counseling
sessions at no cost. The counselors will be available to help with
alcohol/drug abuse, crisis management, parenting problems, financial
concerns, family problems, work difficulties, marital concerns,
emotional issues and other personal issues. The program also includes
a 24- hour hotline for employees and their families who are in need
of assistance. The hotline will be able to refer employees and their
families to a counselor. The utilization of this program is entirely
voluntary and is completely confidential.
Retirement Benefits
TransCor provides retirement benefits for its employees through
its 401(k) Savings and Retirement Plan. Employees who are at least
18 years old and who have completed 12 consecutive months and 1,000
hours or more of service with TransCor are eligible to participate
in the company's 401(k) Plan. Upon eligibility, employees may contribute,
on a pre-tax basis, up to 20% of their gross bi-weekly pay into
the Plan. TransCor will match an employee's contributions, dollar
for dollar, up to 5% of the employee's eligible compensation. Matching
contributions are made following the end of each Plan year. To be
eligible for the employer matching contribution each year an employee
must make salary deferral contributions into the Plan during the
year, be employed on the last day of the year (December 31), and
be paid for 1,000 hours or more during the year.
Participants are always 100% vested in the fair
market value of any employee contributions made into the Plan. Employer
contributions are subject to the Plan's vesting schedule, which
is based on years of service with the company. Employees become
20% vested in the fair market value of any employer contributions
after 2 years of service with CCA; 40% vested after 3 years; 80%
vested after 4 years; and 100% vested after 5 years of service.
The Plan also provides for 100% vesting upon attainment of the Plan's
retirement age of 62, permanent disability or death.
All contributions into the Plan are participant-directed
and may be divided among various investment options that provide
differing levels of risk. Along with quarterly account statements,
the Plan provides participants with daily access to their account
information via a toll-free telephone number and also via the Internet.
Plan loans are also available for those participants who meet the
loan provision requirements. The Plan's Summary Plan Description
is available in the office of the Human Resources Manager.
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TransCor America, LLC
646 Melrose Ave.
Nashville, TN 37211
Tel: (615) 251-7008
Nationwide (800) 737-9190
Fax: (615) 251-5395
E-Mail: transcorinfo@transcor.com
©Copyright 2004 TransCor America,
L.L.C., All rights reserved
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