Benefits Overview

First County Bank provides a comprehensive benefits program to our employees – offering a wide range of coverage. The program includes:

• Health Care Benefits
• Flexible Spending Accounts (FSA)
• Disability Benefits
• Insurance Benefits
• Retirement and 401(k) Savings Plans
• Paid Time Off

Plus other Valuable Benefits.  

Who Is Eligible And When

Full-time and certain part-time employees are eligible for:

• Health care, flexible spending accounts, disability benefits and survivor benefits after one full calendar month of continuous employment 
• The Retirement Plan on the first of the month following date of employment if age 21 or older 
• The 401(k) Savings Plan after one year of service if age 21 or older

Health Care Benefits

County Bank provides you with medical, dental and vision coverage.

Medical – the plan provides both in-network and out-ofnetwork benefits for a wide range of services, including doctor’s visits, preventive care, hospital and emergency services, prescription drugs, mental health and substance abuse services.

Dental – pays 100% for preventive and diagnostic care with no deductible, 80% or 50% (depending on the type of expense) for most other dental services (including orthodontia) – after a deductible.

Vision and Hearing – provides reimbursement based on a schedule for eye exams, eyeglass frames, contact lenses and hearing aids.

Flexible Spending Accounts (FSA)

Health Care and Dependent Care Accounts – offer significant tax advantages by permitting you to use a debit card to pay for many of your out-of-pocket health care and dependent care expenses with dollars that are never taxed.

Disability Benefits

Sick Leave – accrues at the rate of 1/2 day for each month worked for up to a maximum of 30 days. You can bank unused days.

Short Term/Supplemental Disability (STD) – after sick leave is exhausted, continuing benefits (based on years of service) are available.

Long Term Disability (LTD) – if you qualify for LTD benefits, this plan continues 60% of your pay (reduced by other disability income you receive) – up to a maximum benefit of $8,500 a month. Benefits begin after a 180-day elimination period.

Insurance Benefits

Life Insurance – the Bank automatically provides life insurance equal to two times your salary rounded to the next lower multiple of $1,000. You can also purchase additional, supplemental coverage at low group rates.

Accidental Death and Dismemberment Insurance – pays benefits to your beneficiary in case of your death; to you if you lose sight or limb as a result of an accident. You can also purchase additional coverage at low group rates.

Dependent Life Insurance – the Bank automatically provides basic coverage; you can also purchase additional life insurance for your dependents.

Retirement and 401(k) Savings Plans

Retirement Plan – provides a source of continuing income during retirement. Benefits are determined by a formula that uses your earnings and years of credited service. This is a noncontributory defined benefit plan. You become fully vested after completing five years of vested service.

401(k) Savings Plan – permits you to save for your future financial security using before-tax dollars. If you participate, the Bank adds $0.50 for each $1 you save on the first 3% of your pay. Loans and withdrawals are available.

Paid Time Off

Vacation – two weeks vacation beginning in your second full calendar year of employment; pro-rated during your first year with the Bank.

Holidays – ten paid Bank holidays a year (based on your regular work schedule) plus two personal days.

Other Valuable Benefits

Employee Assistance Program (EAP) – for confidential, professional assessment and referrals for a wide range of issues, including marital, family, elder care, substance abuse, etc.

Mass Transit Voucher Program – A monthly voucher for commuting on mass transit.

No Service Charges for checking, money orders, tellers checks or travelers checks.

Preferred Lending Policies – after one year of employment and approved credit:

• 1% rate reduction on consumer and collateral loans
• 1/4% rate reduction on first mortgages
• No annual fee for a Visa credit card.

Special Awards – for service, performance, sales, etc.

Tuition Reimbursement – to encourage continuing education.

Career Development – through the Center for Financial Training of Southern New England.

Employee Referral Program – Cash award for referring individuals hired by the Bank.

Wellness Stipend – $150/year for enrolling in a licensed/accredited physical activities program.