IDEC

Benefits

Employees working 30 hours or more per week on a regular basis are eligible to participate in the IDEC benefit plan. Eligibility for the Medical, Dental, & Vision Plans begin on the first day of the month following the date of hire. Eligibility for the 401k and Profit Sharing Plans begin 6 months after the date of hire.

Medical Insurance
IDEC Corporation offers three medical insurance plans from two carriers for our Sunnyvale, CA employees. Coverage is available for employees, eligible dependents, and domestic partners. For our Field Sales Engineers IDEC offers a PPO medical coverage plan.

Vision Insurance
Coverage is available for eye exams, prescribed glasses, and contact lenses. Claim forms must be completed and presented to the provider at the time of your visit.

Dental Insurance
Employees receiving services through the PPO plan are always free to obtain services from the dental care provider of their choice. If services are obtained from a network provider, employees will pay their portion of the negotiated contract charge. If services are obtained from a non-network provider, employees are responsible for the difference between the allowed amount and the actual charges, plus any deductible.

401(k) Savings Plan
IDEC Corporation encourages you to build your savings for retirement and other long-range goals by offering a convenient and attractive savings plan to which the company makes matching contributions. Employees may enroll in the plan the first of the month following date of hire.

Profit Sharing Plan
IDEC Corporation also shares economic success with employees through a profit sharing program. Profit sharing amounts are contributed by the company into eligible employees retirement accounts in reward for helping maintain IDECs profitability. The amount contributed to each employees account depends on the amount of company profit and the employees earnings for the applicable period. Employees must complete six months of service and work at least 1,000 hours during the plan year to receive profit sharing.

Life/Accidental Death & Dismemberment (AD & D) Insurance
Life Accidental Death & Dismemberment (AD&D) Insurance is paid for by the company. The coverage pays one and one half (1.5) of your annual salary up to maximum benefit of $300,000.00.