SGI considers employee benefits to be an essential and important part of total compensation. The company provides comprehensive, cost-effective, and innovative benefits intended to meet the varying needs of our employees. The following provides highlights of the benefits program offered to all regular employees working 32 or more hours per week. Detailed plan information may be obtained from your recruiter.
Health and Welfare Plans |
Investment Planning |
Personal Development |
Time Off Programs
Health and Welfare Plans
Medical Insurance
SGI offers employees and their eligible dependents a choice of medical plans, from traditional plans offered by Aetna to HMO plans. The Aetna plans cover a major percentage of your medical expenses after you have met an annual deductible. You have the freedom to go to any licensed physician or health facility, but utilizing certain preferred providers minimizes your out-of-pocket costs.
The HMO plans provide a broad spectrum of medical services through their own networks of physicians and facilities. The state in which you reside will determine if you are eligible to enroll in an HMO,
and the plan requires you to go to member doctors, clinics and hospitals for all of your services. Most services are provided at little or no out-of-pocket cost to you. HMO options are Kaiser Permanente (CA) and Group Health (WI).
Dental Insurance
You and any eligible dependents are automatically enrolled in the MetLife Preferred Dentist Program (PDP) USA plan if you enrolled in a medical plan offered at SGI, at no additional cost to you. The PDP plan provides coverage for preventive care, basic care and major restorative work. To receive maximum benefit, you should select a PDP participating dentist. Basic and major coverage is subject to a deductible of $50 per person, up to a family maximum of $150 per calendar year. Payment is based upon usual, reasonable and customary charges. There is also an option to enroll in the Premium Dental Plan for an additional cost. The Premium Plan covers orthodontia care up to a lifetime maximum of $1,000 per person.
Vision Insurance
You and any eligible dependents are automatically enrolled in the Vision Service Plan (VSP) if you enrolled in a medical plan offered at SGI, at no additional cost to you. The VSP plan offers eye examinations every 12 months after a co-payment, lenses or contact lenses once every 12 months, and frames once every 24 months. To receive the maximum benefit available, you should select a VSP member provider to assure direct payment to the Doctor. However, you may visit any licensed optometrist,
ophthalmologist, or optician of your choice and submit a claim to VSP for reimbursement at a reduced level of benefits.
Flexible Spending Accounts
Pre-tax spending accounts are employee benefit plans permitted
under Section 125 of the Internal Revenue Service Code. The
Health Spending Account (HSA) allows you to set aside up to
$4,000 of your pay each year through pre-tax payroll deductions
for eligible health care expenses incurred by you or any eligible
dependent. The Dependent Care Assistance Plan (DCAP) allows
you to set aside up to $5,000 each year to pay for eligible child or
elder day care expenses. Under the IRS regulations, any unused
contributions remaining in your HSA and/or DCAP accounts at the
end of the calendar year will be forfeited. Another pre-tax spending
account permitted under Section 132(f) of the Internal
Revenue Service Code is the Qualified Transportation Benefit
(QTB). QTB allows you to set aside up to $1,200 of your pay each
year through pre-tax payroll deductions to cover your mass transit
(i.e. train, bus, or light rail) and eligible vanpool commuting
expenses.
Life Insurance
SGI provides employees with basic life insurance and accidental
death & dismemberment insurance at no cost to the employee at
1.5 times your annual salary, up to a maximum of $500,000.
Supplemental life insurance is also available to employees and
their dependents.
Travel Accident Insurance
Employees traveling on company business are provided with accident
insurance that pays a survivor's benefit to a designated beneficiary.
The benefit covers employees at 3 times annual salary,
up to a maximum of $500,000.
Disability Plan
SGI provides disability benefits to eligible employees experiencing
illness, injury or a pregnancy that requires a medical leave of
absence. Eligible employees may receive disability pay accordingly:
100% of salary from 1 to 42 calendar days, 75% of salary
from 43 to 90 calendar days, 60% of salary after 90 calendar days
(up to a maximum of $15,000 per month).
Investment Planning
SGI 401(K) Plan
The 401(k) Plan provides employees an opportunity to accumulate
savings on a tax-deferred basis. Through payroll deductions,
employees can direct up to 25% of their pre-tax earnings (up to an
IRS annual maximum) into the savings plan. The Plan offers 12
investment funds. Employees may enroll, increase, decrease,
change investment funds, transfer funds, or discontinue their contributions
at any time by contacting the plan administrator. The
SGI 401(k) plan also includes a company matching contribution
where SGI will contribute 25 cents for each dollar contributed to
the 401(k) plan up to $1,200 per plan year.
Morningstar Financial Investment Tool
Through our 401(k) recordkeeper, SGI has partnered with
Morningstar to provide an on-line financial investment tool to all
401(k) plan participants at no charge. It provides investment guidance
based upon the individual's own account, risk tolerance level
and desired outcomes.
Personal Development
Employee Assistance and Information and Referral Program
The CONCERN Program offers employees and their dependents
private counseling and referrals to resources and agencies
through the CONCERN network. CONCERN provides fully qualified,
professional counselors throughout the U.S. to assist employees
and dependents in resolving personal conflicts. There is no
charge for the first seven visits. Participation is voluntary and completely
confidential. In addition, referral services are available for
help with prenatal planning, adoption preparation, child care,
schooling profiling, college and financial aid planning and adult
care.
Educational Assistance
With prior management approval, educational assistance provides
financial support to employees with the desire to further their education
and enhance their skills. Financial support includes tuition,
books and fees for courses at approved schools and colleges, as
well as reimbursement of college degree program expenses.
Adoption Assistance
Understanding that adopting a child usually requires a significant
amount of time and money, SGI offers financial reimbursement up
to a maximum of $4,000 per child to help cover legal and agency
fees.
Sports and Recreation
SGI offers a variety of recreational and fitness activities to nurture
healthy, active and balanced lifestyles.
Volunteer Service
A program is in place to provide volunteer activities that enhance
the health and happiness of SGI employees and our communities.
Time Off Programs
Vacation
Employees earn 10 days of vacation during their first year of service
and one additional day every year thereafter up to 15 years,
based on their anniversary dates. An employee may accrue a
maximum of 240 vacation hours, after which point additional time
off is not earned until the vacation balance is reduced.
Paid Holidays
SGI designates 10 paid holidays each calendar year. In addition,
each full time employee receives one personal day per year,
which if unused at the end of the year, will automatically be added
to the employee's vacation balance.
Emergency Vacation Donation Program
A confidential program providing an eligible employee an opportunity
to voluntarily donate a portion of his/her accrued vacation time
to another eligible employee who has a temporary personal emergency
and needs additional time off.
A confidential program providing an eligible employee an opportunity to voluntarily donate a
portion of his/her accrued vacation time to another eligible employee who has a temporary
personal emergency and needs additional time off.
This document is intended as a summary only. This is not a contract, or part of any official
document. If differences should occur between this summary and the Plan Document, the
Plan Document will govern your rights under the Plan.
© 2006 SGI. All rights reserved. Silicon Graphics, SGI, and the SGI logo are registered
trademarks of Silicon Graphics, Inc., in the U.S. and/or other countries worldwide.
