IEEE Employee Benefits

Medical and Dental Insurance

• IEEE pays for the major portion of the cost of medical and dental coverage for employees and their eligible dependents. Employees who participate are required to pay for a much smaller portion of the cost of these insurances through payroll deductions.
• Employees become eligible for medical and dental coverage 30 days from date of hire.
• IEEE offers several major medical health care programs.

Prescription Drug Plan

Prescriptions can be filled:

• at any participating pharmacy, or
• through a mail order drug plan for a 90-day supply

Vision Benefits

• In-network benefits: IEEE provides an annual company paid eye examination for employees and their eligible dependents every 12 months after a $10 co-payment.
• Eyewear Option: Lenses are covered at 100% every 12 months and designated frames are covered at 100% every 24 months after one $25 co-payment. *Selected designer frames are an additional cost.
• Out-of-network benefits: If you use a non-network provider, you will be reimbursed up to a scheduled amount.

Dental Insurance

IEEE provides dental insurance protection for employees and eligible dependents for preventive, diagnostic, minor and major restorative services

Disability and Workers' Compensation Coverage

IEEE provides employees with short-term and long-term disability, as well as workers' compensation coverage.

Group Life Insurance

IEEE provides, at company expense, life insurance and accidental death and dismemberment insurance coverage equal to 21/4 times an employee's annual salary. Employees may purchase additional protection in increments of $10,000 to a maximum of $750,000 life insurance coverage. Spouse and child life insurance is also available.

Savings and Investment Plan 401(k)

• Employees may begin to contribute to the 401(k) plan beginning with the first pay period following 30 days from date of hire.  Employees may elect, through payroll deductions, to contribute from 2% to 75% of their salary on a pre-tax basis.  Post-tax contributions are also available.  IEEE matches 100% of the first 4% an employee contributes pre-tax. IEEE matching funds are gradually vested over a four-year period. There are many investment options in which to allocate funds. The plan accepts eligible rollover contributions.

Defined Contribution Retirement Plan

• The defined contribution retirement plan provides for income upon retirement.   Contributions are made to each participant's account based on an employee's completed years of service with the IEEE and their age.   Employee's are fully vested in this plan after four years of employment.  All contributions are made by the IEEE.  Participants are responsible for directing IEEE contributions into his or her account with T. Rowe Price.

Employees' Retirement Plan

• IEEE's defined benefit pension plan provides for income upon retirement based on an employee's length of service, IEEE salary history, and age at retirement. Participants are partially vested after three years of employment, and 100% vested after five years of employment. There are no employee contributions required. Upon retirement, there are various payment options available, including a lump sum payment or monthly income. The defined benefit retirement plan was frozen 30 June 2007.

Tuition Assistance Program

IEEE provides the opportunity for employees to receive assistance in paying for approved degree programs and/or approved individual courses.

Employee Assistance Program

• The IEEE Employee Assistance Program is a company paid benefit which helps employees and their families address problems that can compromise personal satisfaction and sometimes, job performance. The services are totally confidential and if long-term referrals are required, they are coordinated with the IEEE medical plan. Topics include stress associated with relationships, work and career issues, financial and legal difficulties, substance abuse, child and elder care and a variety of other Work Life situations.
  
   
• The services include:
  • Up to six sessions per problem for short term counseling and referral
  • Unlimited telephone counseling
  • 24 hour crisis hot line
  • On-line access to information/services
  • Wellness seminars
  • Legal and Financial services

Group Legal Service Plan

• Employees may purchase this coverage which provides quick access to legal assistance when needed. Most covered services are also available for your spouse and eligible dependent children.  This benefit covers many of the services so often needed today such as wills, real estate or child related matters. When using a network attorney, there are no out-of-pocket fees.  If you use the services of a non-network attorney, you will be reimbursed up to a set dollar limit.
  
  
  Met Life Auto and Home

• This is an employee-paid, payroll deduction insurance program that provides coverage for automobiles, homeowners/condominiums, renters, boat owners, landlord's rental dwellings, mobile homes, recreational vehicles, personal excess liability and motorcycles. Group coverage offers many advantages, including special group rates and policy discounts in most states.

  
   

IEEE Staff Learning Center

The Staff Learning Center provides:  

• On-site PC training
• Business and management workshops
• Team building activities
• Career Management Services 
   
• Vacation
  
  Employees accrue:
  • 12 days - 1st full year of employment
  • 18 days - 2nd through 9th full years of employment
  • 24 days - after 9 full years of employment and beyond
• Holidays
  • Employees are paid for 10 holidays 
  • Sick Leave
    • Employees accrue one sick day per month of employment - no maximum limit.

     

    
    IEEE Financial Advantage
    
    

    This program is designed to help employees and their families take control of their finances. It offers a number of cost-saving products and services such as:
    • Mutual Funds
    • IEEE Credit Card
    • Mortgage
    • Term life insurance

    
    New Jersey Manufacturers Auto/Homeowner Insurance

    • IEEE NJ employees are eligible to apply for auto and/or homeowner coverage through New Jersey Manufacturers Insurance Company (NJM). Employees meeting NJM's underwriting requirements may be able to get significant savings on these policy premiums.

    
    Other Miscellaneous Benefits

    • Employee Referral Bonus
    • Business Casual Dress Code
    • Community Involvement Opportunities
    • On-site cafeteria (NJ only)