Employee Benefits Summary

Retirement Plan - The Sterling Heritage Retirement Plan is a 401(k) plan with the Vanguard Group. Employees may begin contributions to the plan on the first payday after the employee has been with Sterling Heritage for 90 days. After the first full year of employment, Sterling Heritage will contribute an amount equal to 3% of an employee’s salary each year into the employee’s retirement account. In addition, if the employee choses to make voluntary contributions to their retirement account, Sterling Heritage will match the employee’s contribution up to 3% of an employee’s salary each year. (Through these two components of the plan, Sterling Heritage may contribute up to 6% of an employee’s annual salary.) The Sterling Heritage Retirement Plan also provides for a profit-sharing component. The company contribution to the profit-sharing component of the plan is dependent on the growth and performance of the company in the previous year. All profit-sharing contributions are deposited into employee retirement accounts at the final payroll of the year.

Life Insurance - Sterling Heritage employees are covered by life Insurance through MetLife in an amount equal to two times their annual salary to a maximum of $250,000. Sterling Heritage pays the full premiums for this life insurance policy.

Comprehensive Health Insurance - Sterling Heritage provides comprehensive health insurance to employees through Aetna/Innovation Health. Sterling Heritage employees located in Virginia, Maryland and the District of Columbia are covered by Aetna/Innovation Health’s Virginia Gold Open HMO. These employees may chose coverage under Innovation Health’s Virginia Gold PPO instead. Employees that reside in other states, or who have covered dependents that reside outside VA, DC, MD, PA, DE, NJ, NY, and CT are covered by Aetna’s Virginia Gold PPO. Coverage for new employees commences on the first day of the month after the first full month of employment. Sterling Heritage pays a significant portion of the premiums for our full-time employees and their family’s medical insurance coverage. During 2018, the employee portion of the monthly premium is as follows:

Employee Only Employee and Spouse Employee and Children Employee and Family
Innovation Health HMO $125.00 $366.00 $350.00 $554.00
Innovation Health PPO $135.00 $406.00 $396.00 $599.00
Aetna PPO $171.00 $514.00 $468.00 $758.00

Dental Insurance - Sterling Heritage provides comprehensive dental insurance to employees through Aetna. Our dental insurance includes orthodontics for dependent children up to the age of 19. Coverage commences on the first day of the month after the first full month of employment. Sterling Heritage pays the full premium for our full-time employees and their family’s dental insurance coverage.

Vision Insurance - Sterling Heritage provides comprehensive vision insurance to employees and their dependents through VSP Vision Care. We also pay the full premium for our full-time employees and their family's vision insurance.

Disability Insurance - Sterling Heritage provides Short and Long Term Disability Insurance to all full time employees through the Hartford. This insurance coverage provides income protection when disability due to illness or injury prevents an employee from working. In addition our insurance provides a work incentive benefit, family care credit benefit, a workplace modification benefit and access to counseling and professional services to help cope with daily work/life challenges and those that arise because of a disabling illness or injury. Sterling Heritage pays the full premiums for full-time employee’s disability insurance.

Vacation Leave -Leave begins accruing on the 1st day of the month after the employee has been with Sterling Heritage for 90 days. Following the 90-day introductory period, Sterling Heritage employees accrue leave at a rate of ten hours per month. Employees may take pay in lieu of leave if their remaining leave balance after the payment is in excess of 120 hours. Payment in lieu of leave may not exceed payment for more than eighty hours per year. Employees may not accrue more than 200 hours of leave.

Travel Assistance - Sterling Heritage employees are covered by Travel Assistance Services administered by MetLife. This service offers our employees and their dependents medical, travel, legal, financial and concierge services, 24 hours a day, 365 days a year, when they are traveling internationally or domestically more than 100 miles from home.

Holidays - Ten Federal Holidays and the Friday after Thanksgiving are observed as paid holidays:

Professional Societies - Sterling Heritage will pay for membership dues in professional societies up to $350 annually for each employee. Sterling Heritage will pay for registration and expenses for attendance at one professional society meeting per year when increased contribution to its work objectives is an expected result, subject to management approval.

Education Assistance - Sterling Heritage supports professional training and development when increased contribution to its work objectives is an expected result. Employees may continue their education in a related field and Sterling Heritage may reimburse all or part of the costs. The amount of course reimbursement is based on the final grade an employee receives for the course. Upon successful completion of undergraduate or graduate courses, employees will be reimbursed a percentage the cost for tuition, up to an annual spending limit of $6,000.00 per employee per calendar year.

Flex-time - Sterling Heritage gives employees choice about their actual working hours. This means our staff can vary their start and finish times each day and also take breaks during the day. Employees may also take time off at mutually convenient times to make up for extra hours worked. We also permit compressed working hours - employees may work the total number of hours over a shorter number of working days. For example, forty hours over a period of four days instead of five, or eighty hours over nine days instead of ten.

Sunday Policy - Sterling Heritage will never require an employee to work or travel on Sunday. Sterling Heritage sponsored conferences, workshops and meetings are scheduled to avoid travel by employees and participants on Sundays.

Equal Opportunity - We recruit, hire, train, and promote without regard to age, race, color, sex, sexual preference, national origin, ancestry, religion, marital status, or physical or mental impairment. We are committed to the principles of equal employment opportunity, affirmative action and diversity. Our health and dental insurance benefits provide for Domestic Partner Coverage.

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