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Employment Benefits

Mate Precision Technologies 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. Unless otherwise stated, benefits are effective the first of the month following the date of hire.

Mate Precision Technologies 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

You will become eligible for enrollment on the first of the month following the date of hire. You can then elect your contribution amounts or wait 30 days to auto-enroll in 6% of eligible wages.
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.

Medical Insurance

• PreferredOne network
• 100% coverage for preventive care, including routine physicals & eye exams, well-child care, immunizations, and prenatal & postnatal care
• Annual deductible of $2,000 per individual or $6,000 per family
• Out-of-pocket in-network maximum of $4,000 per individual or $8,000 per family
• Prescription drug coverage

Dental Insurance

• 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 benefits 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 the 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 in work-related educational assistance from an accredited institution per calendar year.

Other Benefits

• Clean, air-conditioned shop
• Free annual hearing test
• Free flu shot immunization
• Employee Appreciation Cookouts
• Employee Recognition Program
• Winter or Summer Employee Party
• Thanksgiving Turkey
• Jury Duty Pay
• Bereavement Pay
• Employee Assistance Program
• Casual dress code
• Employee discounts
• Emergency Personal Loan
• Paid Weekly