Flexible Benefits Plan This plan is designed to allow the employee to use pre-tax dollars to pay for medical and dependent care expenses and medical and dental premiums the employee pays for MicroMillennium Management Consulting group insurance. (See the benefits coordinator for details). Paid Time Off MicroMillennium Management Consulting provides a specific number of Paid Time Off (PTO) days per employees, based on the employee's years of experience. It is up to the employee to determine how to use those days. PTO days are accrued throughout the year, for that year only. PTO days may be used in advance of the actual accrual, but must be repaid out of any final paycheck(s) should the employee leave the company prior to the actual accrual. 401-K Plan 401-K Deferred Compensation The Principal Financial Group administers the 401-K plan for MicroMillennium Management Consulting. An IRS regulation allows employees to defer up to 20% of their gross income annually up to $10,500.00 per year. The company matches 3% up to 6% for each employee who participates in the plan. The company match is made monthly. Group Dental, Life and Disability Metlife provides coverage for Dental, Life, AD&D, Long Term Disability and Short Term Disability. Dental benefits include orthodontia coverage in addition to coverage for preventive basic and major dental expenses. Provider selection is unrestricted. Group Life and accidental death and dismemberment pay a specified amount to a beneficiary upon the death or accidental death/dismemberment of an employee. MicroMillennium provides life insurance to the employee at two times the annual salary not to exceed $200,000. Disability coverage provides a benefit to the employee in the event that the employee is unable to perform his/her job due to a short term or a prolonged illness or disability. The employee participates in premiums for this coverage. Employee Assistance Program This program is available to all employees and their families. If you or anyone in your family is experiencing problems with alcohol, drugs, emotional problems, financial problems or other problems, the employee assistance program offers free, confidential assistance. St. Joseph’s Hospital and Medical Center administers this program for MicroMillennium Management Consulting. You may call them directly to set up an appointment. All records are confidential and are maintained by them. Bonus Plan The criteria and payouts are reviewed and, if applicable, revised annually. Generally speaking the annual plan includes three parts: - Profit Sharing
- Utilization (percent of possible working time that you were billable)
- Performance, based on client feedback
The annual plan is documented and provided in writing to each employee. This plan is paid out to current employees as of EOM February each year, based on the prior year. Special bonus opportunities (e.g. employee referrals, new client contacts, etc.) are also offered from time to time. Senior management may also pay out discretionary bonuses. |