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In our latest Sustainability Report, we share details about our benefits program, which is designed to attract, recognize and encourage quality performance and meaningful contributions from our employees.
Key Benefits
- Health Benefits – Medical, dental and vision plans with covered annual preventive exams
- Health Savings Account (HSA) – Tax-advantaged savings with a company contribution
- Basic Life and Accident Insurances, Short-Term and Long-Term Disability – Provided at no cost to all employees beginning on their first day
- Employee Assistance Program – Free counseling, identity protection and more
- Retirement Benefits – Company-funded pension and 401(k) savings plan with 7% employer match
- Paid Sick Leave – Seven days of paid time off each calendar year
- Vacation – Three to six weeks paid time off each calendar year
- Paid Parental Leave – 10 to 12 weeks for birthing parent, four weeks for nonbirthing parent
- Adoption Assistance – Helping pay for adoption
- Family Leave – Unpaid time off for certain family, personal and medical reasons
- Education Reimbursement – Financial assistance for approved degree programs, certifications and licensing
- Scholars Program – Competitive college scholarships for children of employees and retirees
- Relocation – Relocation assistance to help make the transition as easy as possible
- Giving and Volunteerism – Company match for qualified giving and volunteer incentive program
Benefit Enhancements
We recently enhanced our benefit programs in many ways to support all employees across different phases of life.
Focus on Families
- Expanded our existing coverage for fertility treatments
- Increased adoption assistance to $10,000 per adoption
- Introduced a new surrogacy assistance benefit that reimburses up to $20,000 for qualifying surrogacy expenses
- Extended paid physical recovery time for birth mothers, while continuing to provide four paid weeks of bonding time for all new parents
Mental and Emotional Well-Being
- Increased to 10 free counseling sessions per issue through our Employee Assistance Program, a benefit that extends to each household member
- Expanded our clinical and emotional support programs beyond expectant parents to include family building (fertility, adoption and surrogacy), post-delivery maternity care, parenting support and menopause support
Financial Well-Being
- Expanded options for earning our 7% Thrift 401(k) Plan match to include qualified student loan payments, allowing employees to save for retirement by paying down student debt
- Added a Dependent Care Flexible Spending Account to increase tax savings opportunities for employees with eligible childcare and/or elder care needs
For more information on employee benefits, visit MyMPCBenefits.com.
