Benefits Overview

At Protection Strategies Incorporated we take great pride in the fact that we offer employees a comprehensive benefits package, that is highly competitive with other organizations. The following is intended only as a summary of PSI’s Employee Benefits. You will receive a benefits packet containing detailed plan information and enrollment forms.

Enrollment in company benefits is not automatic. To participate, you must complete and return enrollment forms to Human Resources within 30 days of your hire date. Employees electing not to enroll must complete a Benefits Waiver Form. For questions, please contact HR at 703-553-0561.

Health Benefits

Medical coverage is provided by Aetna Insurance for full-time employees (working 40+ hours per week). Employees may select from two plan options: Open Choice PPO and HealthFund. Neither plan requires designation of a Primary Care Physician (PCP) or a referral to see a Specialist. Spouse and/or dependent coverage is also available at pre-established rates. The medical benefit starts on the first of the month following date of hire.

Dental Benefits

Dental coverage is provided by Principal Insurance for full-time employees (working 40+ hours per week). Employees may select from two plan options: Core and Buy-Up. Employee Only coverage, for the Core plan, is provided at no cost to the employee. Spouse and/or dependent coverage is also available at pre-established rates. The dental benefit starts on the first of the month following date of hire.

Vision Benefits

Vision coverage is provided through VSP. The plan includes an annual eye exam for a $10 office visit co-pay. Contact lenses or eyeglass lenses may be purchased every 12 months; eyeglass frames every 24 months. Additional allowances and discounts apply; please refer to the VSP brochure contained in the benefits packet.

Flexible Spending Account (FSA)

An FSA is an IRS regulated benefit that allows you to pay for certain eligible medical and/or dependent care expenses on a pre-tax basis. The healthcare FSA can pay for such things as office visit co-pays & deductibles, eye exams & eyeglasses, orthodontia, prescriptions & over-the-counter medications and more! Employees may set aside a maximum of $3,000 per calendar year for their healthcare FSA and up to $5,000 ($2,500 if married and filing a separate return) for their dependent care FSA.

Group Term Life Insurance

Group Term Life (GTL) Insurance is a company paid benefit provided through Lincoln Financial for full-time employees (working 40+ hours per week). The benefit is 2x annual salary up to a maximum of $500,000. As regulated by the IRS, Group Term Life Insurance coverage exceeding $50,000 must be included as part of an employee’s taxable income. Employees are eligible for the benefit on the 1st of the month following their date of hire.

Voluntary Term Life Insurance

Voluntary Term Life (VTL) Insurance is available for purchase for employees, their spouse and dependents. The benefit is provided through Lincoln Financial for full-time employees (working 40+ hours per week). Employees are guaranteed up to $150,000 of coverage without completing a Statement of Health Form; spouses up to $30,000. Eligible children under 14 days of age will receive $1,000 of coverage; children 14 days of age or older $10,000 of coverage. Employees are eligible for the benefit on the 1st of the month following their date of hire.

Employee Assistance Program

The Employee Assistance Program (EAP) is provided through Magellan Health Services for employees covered by Lincoln’s GTL Insurance. The EAP is a company paid benefit. Use of the service is completely confidential and is available 24 hours a day, 7 days a week. The EAP provides assistance with, but is not limited to, child and elder care, depression, stress, health & wellness and financial and legal concerns.

Will Preparation Services

Will Preparation Services, provided by ARAG, is available at no cost to employees covered by Lincoln’s GTL Insurance. The service allows employees to create legal documents such as a will, living will, healthcare power of attorney and a financial power of attorney. For more information please refer to the brochure contained in the benefits packet.

Short Term Disability (STD)

Short Term Disability (STD) Insurance is a company paid benefit, administered by Lincoln Financial, for full-time employees (working 40+ hours per week). STD provides a measure of income in the event that you are unable to work due to a non-work related injury, illness or disability. The waiting period is 1 day for an injury and 8 days for an illness and pays 60% of your base weekly salary up to a maximum benefit of $1,500 per week. The benefit lasts up to 90 days.

Long Term Disability (LTD)

Long Term Disability (LTD) Insurance is a company paid benefit, administered by Lincoln Financial, for full-time employees (working 40+ hours per week). LTD provides a measure of income in the event that you are unable to work due to a non-work related injury, illness or disability. The benefit pays 60% of your base monthly salary, up to a maximum benefit of $10,000 per month, and begins after the 90th day of the disability.

401K Plan

The 401K Plan is administered by Fidelity. Employees are eligible to participate on the first of the month following 30 days of employment and may contribute up to 15% of their salary to the established allowable limits. PSI will match employee contributions dollar-for-dollar on the first 3% and 50 cents on the dollar on the 4th and 5th % for a total company match of 4%. Employees are immediately vested in both their contributions and in the company match.

Vacation and Sick Leave

Employees will accrue 3.33 hours of vacation, per semi-monthly pay period, for the first 5 years of employment (10 days per year). After completing 5 years of service, employees will accrue vacation at a rate of 5.0 hours per semi-monthly pay period (15 days per year).

Employees may use sick leave as it is accrued. Sick leave is earned at a rate of 1.67 hours, per semi-monthly pay period, for a total of 5 days per year.

Holidays

PSI observes ten employee paid holidays (in accordance with the federal government’s holiday calendar schedule). The observed holidays are: New Year's Day, Martin Luther King Jr. Day, President's Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veteran’s Day, Thanksgiving Day, and Christmas Day.