Mate Precision Tooling believes that the benefits package offered to its employees is a meaningful part of their employment. Following is a summary of the many benefits Mate extends to its full-time employees. This information represents an overview of the benefits program and is not intended to be all-inclusive, or to be used as a summary plan description.
Mate Precision Tooling Employees Retirement Savings Account
Mate contributes between 0 – 15% of annual gross wages to your profit sharing account annually, based on company profitability.
Voluntary 401k Contributions
- Mate matches 50% of the first 6% of employee’s contribution.
- Convenient payroll deduction and a variety of investment options
- Contributions that can be made on a before-tax and/or an after-tax basis
- Loan and withdrawal options available
- Rollovers accepted from other qualified plans
All funds for the Profit Sharing and 401k plans are invested funds administered by Fidelity Investments and are self-directed by the employee. There are a wide range of funds available dependent on the risk and rate of return desired.
- HealthPartners network
- 100% coverage for preventive care, including routine physicals & eye exams, well-child care, immunizations, and prenatal & postnatal care
- Annual deduction of $2,000 per individual or $6,000 per family
- Out of pocket in-network maximum of $4,000 individual or $8,000 per family
- Prescription Drug Coverage
- Delta Dental network
- 100% coverage for Diagnostic & Preventative services, including exams & cleanings, x-rays, and fluoride treatments
- 80% coverage for Basic Services, Periodontics, Oral surgery, Major restorative services, and Prosthetics
- Annual Deductible of $50 per individual or $100 per family
- Orthodontic benefit for dependent children up to age 19
Short Term Disability
- Company paid
- Benefits equal to 60% of your wage for up to 13 weeks
Basic Life Insurance
- Full-time employees are automatically covered by company-paid life insurance and Accidental Death and Dismemberment coverage.
Supplemental Life Insurance
- Supplemental Life Insurance and Dependent Life Insurance are additional coverages that full-time employees may elect.
Medical Flexible Spending Accounts
- Employees can enroll in a Flexible Spending Account (FSA) for health care. This account allows you to reserve a portion of your paycheck as a tax-free fund for covering eligible health care expenses such as deductibles, co-insurance, dental and vision expenses.
Dependent Care Flexible Spending Account
- Employees can save before-tax dollars from each paycheck to pay for qualifying daycare and eldercare expenses.
Paid Time Off (PTO)
- Mate is committed to all team members enjoying a balanced and enjoyable life, including time off with friends and family. PTO is accrued based on length of service, position and hours worked.
Mate Tuition Reimbursement Program
- Mate values a work environment that enhances development of people and allows them to meet their goals and those of the company. Mate’s Educational Assistance Plan provides up to $5,250 work related educational assistance from an accredited institution per calendar year.
- Clean, air conditioned shop
- Free annual hearing test
- Free flu shot immunization
- Employee Appreciation Cook Outs
- Employee Recognition Program
- Winter or Summer Employee Party
- Thanksgiving Turkey Gift
- Jury Duty Pay
- Funeral Pay
- New Employee Gifts
- Employee Assistance Program
- Casual dress code
- Consignment Tickets
- MERSC member discounts
- Emergency Personal Loan
- Paid Weekly