|Plan Participation||Employee's Contribution||MITRE's Contribution|
2% of base salary up to SSWB
4.7% of base salary over SSWB
7.5% of base salary up to SSWB
10.5% of base salary over SSWB
Eligible for contributions six months after hire date.
1 to 10% of base salary up to SSWB
1 to 6% of base salary over SSWB
(Up to limit set by law)
|1/3 matching of any Employee Level 2 contribution (Immediately eligible)|
|(Up to limit set by law)||2005 Social Security Wage Base (SSWB) = $90,000|
|Employee voluntary contributions (Level 2 plus Level 3 combined) are limited to $14K ($18K if age 50+) in 2005. These limits are scheduled to increase each year by $1,000 ($2,000 respectively) through 2006.|
MITRE is committed to helping employees
achieve retirement security by offering investment seminars,
on-site counseling appointments with investment representatives,
tools to project retirement income and an annual retirement planning
What is the Social Security Wage Base? The Social Security Wage Base (SSWB) is set by the government each year. In 2005, employers must withhold Social Security taxes at a rate of 6.2% on each employees' first $90,000 of compensation. MITRE makes an equal matching contribution. Compensation above the $90,000 limit is not subject to Social Security taxes. Medicare taxes are also withheld at a rate of 1.45% on all wages.
MITRE offers various subsidized health care plans to help protect you from high medical costs and the financial burden when you or your family needs health care. You may choose to participate in a nationwide Point-of-Service (POS) plan, several Health Maintenance Organizations (HMO), or a Supplement Plan that is available to qualified retired military personnel. MITRE also offers a Global Health Plan for overseas employees that provide open access to health care while residing outside of the United States as well as coverage when periodically returning to the United States.
All of our health plans offer comprehensive care-including coverage for hospitalization, surgery, routine office visits, prescription drugs (retail and mail order), mental/health substance abuse care, and chiropractic services. What differs among the plans is how you pay for your care and your access to doctors and hospitals depending upon your location.
MITRE offers a subsidized dental plan that covers the reasonable and customary charges for a wide range of dental treatments at either 100% (preventive) with no deductible or 80% (basic, major and orthodontia). The plan allows you to choose any dentist you want for dental care. Members can also take advantage of discounted rates when they use dentists who are part of the nationwide network of MetLife, our dental administrator. The plan pays up to $1,500 per plan year per member with a lifetime maximum benefit of $2,000 for orthodontic services.
The MITRE Vision Care plan provides comprehensive coverage for services such as eye exams, frames, and lenses following a defined schedule of benefits. You are also eligible for discounts on laser vision corrective surgery. The plan is administered by Vision Services Plan (VSP) which offers a nationwide network of more than 22,000 providers. When you receive vision care services from a VSP network provider, you are covered at the maximum benefit amount. You also have the choice of using an out-of-network provider but will receive a reduced reimbursement.
Life, Accidental Death & Dismemberment
and Business Travel Accident
The MITRE Corporation Life Insurance Program helps provide financial security and protection for you and your family.
Basic Term Life and Accidental Death and Dismemberment (AD&D) insurance coverage equal to one times annual base salary (up to $1 million) is provided automatically at no cost to the employee. You may purchase Supplemental Life and AD&D coverage at group rates equal to one to five times your base annual salary (up to $1 million).
The Dependent Life Plan provides three options to cover your eligible spouse and dependent children for group term life insurance. The cost of this coverage is a flat rate, regardless of the number of covered dependents.
Business Travel Accident Insurance is a company-paid plan that provides accidental death and dismemberment coverage of up to $250,000 for injuries caused by a covered accident when traveling on company business
Medical Leave (Short-Term Disability)
MITRE's Medical Leave is a company-paid benefit that accommodates a documented disability that extends for more than three days (or 24 work hours) for benefits-eligible employees. Medical Leave may be used for an acute illness or injury, or for a chronic condition that results in intermittent absences. The Plan can provide income protection for up to 180 days, subject to meeting documentation requirements. Benefits are based on years of service, beginning at 100% paid and then at a reduced rate.
Employees may elect long-term disability coverage to provide income replacement for a non-work related illness or injury that exceeds 180 days. The plan provides for a benefit equal to 60% of base monthly salary. This is an employee-paid plan with deductions made on an after-tax basis. As an additional benefit, if you are enrolled in the MITRE Retirement Program, a contribution in the amount of 9.5% will be made on your behalf into your Retirement Program account.
Paid Time Off Bank
MITRE provides a Paid Time Off Bank (PTOB) for eligible employees to attend to personal needs that require time away from work. These personal needs may include vacation, short-term illness, and personal business. Employees accrue up to 23 days annually in their PTOB until the attainment of 10 years at which time they are eligible to accrue 28 days. Employees can cash out hours annually or donate hours to a leave-sharing program
MITRE recognizes eight official holidays each year: New Year's Day, Martin Luther King, Jr. Day, Memorial Day, Independence Day, Labor Day, Veterans Day, Thanksgiving Day, and Christmas Day.
MITRE encourages employees to take an active interest in civic and community affairs. To support employees' community involvement, MITRE grants paid time off of up to 40 hours per calendar year to employees whose civic commitments require absence during the workday.
After seven years of service, regular full time and part-time employees are eligible to take up to 8 weeks off to pursue personal or developmental interests. While sabbatical leave is unpaid, employees can use their Paid Time Off Bank to provide income during this time.
Tuition Reimbursement Programs
Three programs are offered through the Educational Assistance Office: the Basic Educational Assistance Program (BEAP), which reimburses tuition, applicable fees and books to support a planned academic objective in line with MITRE's work needs; the Accelerated Graduate Degree Program (AGDP), which allows employees to pursue an advanced degree at an accelerated rate by providing time off for studies; and covers tuition, books and applicable fees in full and the Advanced Degree Award Program, through which qualifying employees receive a bonus for completion of their degree.
The MITRE Institute
The MITRE Institute serves as the Corporate center for education, training, and development. The Institute's primary goal is to increase MITRE's effectiveness by providing employees with opportunities to enhance their capabilities, knowledge, skills, and performance. The Institute offers diversified learning experiences, abundant intellectual stimulation, and opportunities for personal development to assist the Corporation in attracting and retaining personnel of the highest caliber and to link individual development to the achievement of Corporate goals and objectives.
Flexible Work Arrangement Program
MITRE supports the flexibility in work schedule or location to help employees navigate their personal and family priorities. The Flexible Work Arrangement Program allows for flextime, variable work schedules, home-based work/telecommuting, part-time employment and job sharing. The use of flexible work hours is subject to the needs of the company and its customers.
MITRE's Adoption Assistance Program is a family benefit providing financial assistance to employees who adopt a child under the age of 18 or of any age if the individual is physically or mentally incapable of caring for himself or herself. The program reduces the financial burden placed on employees by reimbursing up to $2,500 per child for qualified adoption-related expenses.
Family/Work/Life Consultation and Referral
MITRE has contracted with Guidance Resources to provide confidential consultation, practical information and referral services to help you establish a work-life balance all under one roof. They provide services in areas such as child and elder care, college planning, adoption and parenting, legal and financial issues, as well as assistance with other stressful personal and family issues.
Health & Wellness Programs
The Health Services Department promotes health and wellness by offering a wide range of services to support employees in functioning at optimal levels of health and productivity. These programs and services are not meant to replace the relationship between an employee and his or her physician, but are designed to assist them in achieving, enhancing, and maintaining a healthy lifestyle.
Some of our locations maintain on-site fitness centers, locker rooms, and outdoor recreation areas. Occupational and non-occupational injury assessment and treatment, health screening, flu and tetanus clinics, prenatal programs, educational lectures, reference materials, health fairs, ergonomic evaluations, lactation programs, massage therapy, chiropractic care and physical therapy are also offered on-site at some locations.
Reward and Recognition Programs
As a leader in information technology and systems engineering, MITRE relies on the expertise and dedication of our employees to provide the type of service and solutions our customers require. MITRE acknowledges the outstanding efforts of our employees through a broad array of awards that formally recognize the valuable contributions made by specific individuals and project teams. These awards range from recognition of notable contributions, innovations, and inventions to the completion of academic degrees, successful employee referrals, and years of service to the company.
Flexible Spending Accounts
MITRE has two flexible spending accounts where you can elect to defer pre-tax dollars to be used for reimbursement of eligible expenses. One of the flexible spending accounts is for various health care related expenses (e.g., uninsured medical, vision, hearing and dental) and the other is for dependent care. The amount you can set aside for the health care expense account and the dependent care assistance account may be between $100-$5,000.
The MITRE Legal Plan allows you to receive legal advice from a participating or non-participating Plan attorney for a wide range of legal matters. When using a Plan attorney, you will receive a greater discount. Employees pay the full cost of this voluntary benefit on an after-tax basis through payroll deduction. Benefits include court appearances, document review and preparation, debt collection defense, wills, family matters and real estate matters.
MITRE offers Long-Term Care Insurance, which helps to provide you with financial assistance in covering the expenses associated with nursing home care, home health, hospice and other long-term care services. You can elect coverage for yourself and/or other family members and can continue this program should you leave the company for any reason.
Auto and Homeowner's Insurance
Employees can purchase homeowner, renter, automobile and other property insurance through payroll deductions at group rates with no service or interest charges.
Employees can cover dogs, cats, birds, rabbits, ferrets, reptiles and other exotic pets for medical problems and conditions relating to accidents, illnesses and injuries.
Emergency Back-Up Child Care
New in 2005, the Emergency Back-Up Child Care Program offers employees with children three months to 12 years of age, child care for snow days, teacher days, school vacation or when temporarily without regular child care. Employees pay full cost of this voluntary benefit.
Credit Union Services
Over the years, Milestone Federal Credit Union (MFCU) has made it possible for thousands of MITRE employees to own homes, save for retirement, buy cars, boats, motorcycles and much more at dynamic rates. Employees of the MITRE Corporation are eligible to become members of MFCU.
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