Disability – AVP and Above

Salary Continuance Plan

Eligible senior management employees who hold the title of Assistant Vice President or above are provided with short-term Salary Continuance coverage, which is entirely paid for by the Company. 

SALARY CONTINUANCE OVERVIEW
Your Salary Continuance benefits will begin after you have been disabled for seven consecutive days due to illness, injury, or maternity. There are three important points to remember in connection with your Salary Continuance benefits: 

  • in order to qualify for Salary Continuance, you must be “disabled,” as defined in the Salary Continuance Plan document (see below);
  • the amount of your Salary Continuation benefit may equal all or a portion of your total bi-weekly earnings, depending on the sources of compensation you receive; and
  • the maximum period of payment for Salary Continuance benefits is 12 weeks (special rules apply if you return to work and become disabled again). 

Bi-weekly Earnings: For plan purposes, your bi-weekly earnings include your base pay only. Your bi-weekly earnings do not include: 

  • commissions;
  • bonuses;
  • income received from sources other than the Company; or
  • any other extra compensation. 

SALARY CONTINUANCE PLAN DOCUMENT
A more complete description of your Salary Continuance Plan benefits is contained in a Salary Continuance Plan document, which is available from Human Resources. It is important for you to obtain a copy of this document and read it carefully so that you will fully understand your Salary Continuance benefits and how they work

NOT AN ERISA PLAN
It is important for you to understand that your Salary Continuation Plan is not considered to be a “covered employee benefit plan” under the terms of the Employee Retirement Income Security Act of 1974 (ERISA), and is therefore not subject to ERISA’s reporting, disclosure, and other requirements.