Contract Employee Benefits Summary
The workweek begins on Sunday and ends on Saturday. We are currently implementing our new electronic timecard system where employees enter their time online and managers can approve timecards online. A time card with a manager’s signature must be received before a paycheck can be released. Electronic timecards must be submitted by the end of the workweek. Payroll deadline for approvals is 10am on Monday.
Employees can sign up for direct deposit at the time of hire.
An employee may be eligible for state workers’ compensation benefits for job-related injuries. If an employee is injured while performing a job-related duty, the employee should immediately report the accident to his/her supervisor. If the injury results in absence from work, a letter from a doctor stating that the employee is physically well enough to return to work is required prior to, or on, the date of return.
Section 125 Cafeteria Plan
This IRS-approved plan allows Lighthouse employees to have weekly medical insurance premiums deducted from their paychecks pretax. Reducing taxable earnings leads to less taxes being taken out of the employee’s pay on a weekly basis.
Staffing 360 Solutions, Inc. and Subsidiaries 401(k)
Our Safe Harbor 401 (k) plan is designed to assist you in your retirement and has a 4% maximum company matching amount that is 100% vested from the day you elect to contribute to it.
The maximum contribution that can be deferred during the 2017 plan year is $18,000 with additional $6,000 eligibility for those 50 and above, called a “Catch Up Contribution”. Compensation, for all qualified retirement plans, is limited to $265,000 for 2017.
The company will make safe harbor matching contributions equal to a) 100% of your pre-tax contributions that do not exceed 3% of your annual compensation and b) 50% of your pre-tax savings contributions that exceed 3% of your compensation but do not exceed 5%. The company matched contribution is made only after the tax year has been finalized.