Services and Benefits:
Payroll Processing
Accord will pay co-employee wages from Accord accounts, withhold and remit payroll taxes and process other voluntary deductions. All related payroll tax forms required by federal, state and local governments will be prepared, filed and if applicable, distributed to employees by Accord. Your Company will provide time sheets to Accord for each employee, or a salary schedule, whichever is applicable.
The outsourcing of payroll tasks will create more productive time within your employee group and assure confidentiality of compensation agreements. Health Benefits
Accord offers health benefits through Aetna US Healthcare to clients who meet certain participation requirements. Health benefits are availableto client groups with at least 75% of eligible employee participation and 50% contribution towards employee only coverage.
Aetna's offering includes an HMO and QPOS (point of service) plan to employees within Aetna's service area and PPO and indemnity options for outof-area employees. Core long-term disability and $10,000 life are provided to Aetna health participants.
Employees who work at least 30 hours per week are eligible to participate in the health benefits plan after 30 days of employment with Accord or a waiting period established by the client.
Section 125 Flexible Spending
Accord's benefit package includes administration of a Section 125 Flexible Spending Account. The Section 125 plan will be offered to employees who work at least 30 hours per week and are not considered temporary. This plan allows employees an opportunity to pay for eligible medical premiums; out-of-pocket medical expenses not reimbursed by insurance and childcare expenses through their account with employee pre-tax dollars. The advantage to the employee is tax savings on these expenses.
Eligible employees on the payroll at the time the Client signs with Accord will have an opportunity to enroll in the Section 125 Plan during the first 60 days after becoming an Accord employee. Thereafter, enrollment is open annually with a January 1, effective date.
Dental
Delta Choice, a voluntary co-pay type dental plan, is available to all co-employees. There are no participation requirements or client contributions requirol. Accord also offers the Delta Premier plan to clients who wish to contribute 100% of the employee only premium.
Life
Life insurance benefits are available to all co-employees. In addition to the basic $10,000 life, supplemental coverage up to $200,000 is also available on a voluntary basis.
LongTerm Disability (LTD)
The voluntary LTD plan offers a choice of three levels of benefits, Coverages include 50 or 60% of-monthly salary and 90 or 180 day elimination periods.
Vision
The VSP vision plan offers coverage for services provided both in and out of network. Benefits include eye examination, glasses and contacts.
Accident
A voluntary plan that provides accidental injury benefits.
401(k) Retirement lan - Annual Profit Sharing Contributions - Pension Plan
Each employee who adopts Accord's 401(k) Savings & Retirement Plan has the opportunity to elect a discretionary employer match. This match may be changed each year or the client may elect to make no match. 50% match up to 6%.
Employees who have completed a waiting period by the Client and who are at least 21 years of age are eligible to participate in the 401(k) Plan. Entry points are each quarter after an employee meets the eligibilityrequirements. The plan offers fifteen investment options in which employees can invest a portion of their earnings, tax- deferred. The funds meet the Department of Labor guidelines established in ERISA's 404(c) Regulations. The mutual fund family used by Accord is recognized as a leading performer in its selected categories and provides a comprehensive system of reporting to participating employees.
Workers' Compensation Insurance
Accord shall administer all tasks related to workers' compensation insurance including payroll and premium calculations and any claim issues which may arise. Accord is the policyholder for workers' compensation insurance covering coemployees. The fully insured policy is written by Lumberman's Underwriting Alliance. |
