Compensation for All UltiPeeps…Beyond Salary
We believe our total compensation package to be above the average for nearly all positions in our industry and in the geographic areas where we do business.
Ownership in Ultimate — All our people are awarded ownership in Ultimate as new hires. In recent years, the ownership is in the form of restricted shares. In previous years, the ownership was in stock options.
Medical coverage — Our healthcare coverage is employer-paid for all our employees and their family members (an open access PPO plan) — at no premium cost to our employee.
Prescription coverage — Our prescription coverage is employer-paid for all our employees and their family members (an open access PPO plan) — at no premium cost to our employee.
Vision coverage — Our vision coverage is employer-paid for all our employees and their family members (an open access PPO plan) — at no premium cost to our employee.
Same Sex Married Couples — 100% Employer paid health coverage.
Dental coverage — Our dental coverage is employer-paid for employees and their families and domestic partners with a choice of an HMO or PPO dental plan — at no premium cost to our employee.
401(k) — Our 401(k) plan is an employer-match program where Ultimate matches our employee’s contribution at 40% of the employee’s contributed amount every pay period — up to the highest allowable federal limit annually. All our people have the option of participating, via pretax payroll deductions and are eligible after three months of service prior to open enrollment (November or June) and if 18 years of age or older.
Life insurance — Ultimate provides life insurance coverage for every employee equal to his or her current annual salary — up to a maximum of $600,000, i.e., a person earning $150,000 annually has $150,000 in life insurance coverage at no cost to the employee (other than the tax required by IRS for coverage above $50,000 — and our people have the option of refusing coverage above $50,000 if they like), $10,000 spouse life insurance.
Long-term disability — All our employees have LTD coverage for 60% of their salary starting on the 91st day of disability with no premium cost to our employee, and they have the option to purchase additional LTD coverage via payroll deduction.
Other Benefits that are paid for by Ultimate for all our employees:
- Associate Assistance Program for employee and family household members
- Access to IBM SE Associates’ Federal Credit Union
- Tuition reimbursement for a maximum of $5,250 per year
- 100% certification program reimbursement directly related with current position (with manager approval)
- Paid time off bank
- Maternity/Adoption leave for 10 weeks with pay
- Paternity Leave for four weeks with pay
Other benefits available to all associates at group discounted rates include:
- Identity Theft Shield Membership
- Pet Assure Membership
- Child Alert Center (CAC)
- Prepaid Legal Services
- Short-Term Disability
- Critical Illness Protection
- Cancer Medical Plan
- Supplemental Long-Term Disability