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BROCHURE1.docxTHE SILVERS PILLARS
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PERMANENT EMPLOYEEMENT BENEFITS SUMMARY.
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At The Silvers Pillars, there exist multidimensional employment benefits that the employees share with the company’s financial and operational success. The reward system takes a comprehensive monetary and non-monetary form of reward. These benefits are designed to guarantee your security, recognition and both personal and professional valuation.
TSP and its benefits department are committed towards a reliable and competitive reward program which is aligned with the overall objectives and values of the business to not only inspire employees towards innovativeness but also improve the company’s performance. These attractive benefits have enabled our company to attract and retain valuable experts by fostering their involvement in business activities as well as sustained our company for the past 25years.The benefits that the company provides include;
1. Health care benefits and onsite health care centre and pharmacy
2. Work/ life benefits
3. Employee assistance program
4. Life insurance, accidental death and dismemberment plan
5. Paid time off and leave of absence.
6. Retirement plans
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For more information, please visit TSP Benefits Website or contact our TSP benefits department, [email protected] or +919-012-9291 |
THE HEALTHCARE BENEFITS.
The Silvers Pillars provides for health care coverage and below is a brief explanation of the medical plan, vision plan, dental plan and onsite healthcare centre and pharmacy. Coverage for the health care is automatically available for employees and eligible dependents from the first day of employment.
THE MEDICAL PLAN
STATE HEALTH PLAN - (Preferred provider organization, PPO.)
The PPO, in Michigan, is administered by the Blue Cross Blue Shield. This is a national network of physicians, hospitals and other service providers who have negotiated and agreed to discount rates for medical services. The state pays around 80% of the premium for permanent employees, the plan provides its services for in-network providers and facilities.it also provide out of network services.
The in-network PPO enables those enrolled to obtain the highest benefits and at a lower cost. There are deductible requirements and lower coinsurance costs for medical services such as diagnostic testing and employee hospitalization.
The out of network PPO provide you with the benefits associated with using the plan outside the network. Despite the fact that the services have additional costs in terms of deductible insurance and coinsurance costs. Under this plan, you are required to entirely pay for the cost of the service at the time of appointment and file a claim of reimbursement.
ON-SITE HEALTH CARE CENTER AND PHARMACY.
The healthcare centre provides the employees and those enrolled as dependents, with on-site medical care in this plan and onsite pharmacy for the employees is not only a convenience but a cost saver. These services are of a wide variety including both the primary and secondary medical services.
DENTAL PLAN
The PPO plan administered to citizens of the United States provides a coverage to the dental services. In TSP, you are provided with the opportunity to utilize the dentists in the network at a cost saving for you and the company as well and ease in claims filing. With the state covering 95% of the premium for full employment employees, the plan will cover your on preventive services at a 100% of the cover charges while providing you with the freedom and flexibility to pay any dentist a visit.
VISION PLAN.
The company offers a vision plan provided by the Blue Cross Blue Shield of Michigan that is partnered with Vision Service Plan (VSP). The VSP covers daily and routine examinations of vision and glaucoma testing once a year, provide a single vision, lined bifocal or trifocal corrective lenses and eyeglass frames. Services from VSP to you would mean lower cost for your vision plan services and ease in the filing of claims.
WORK/ LIFE BENEFITS.
TSP provides an onsite resource to all the TSP employees and their household
. EMPLOYEE ASSISTANCE PROGRAM.
The Employee Assistance Program (EAP) is an outside service that is highly confidential and provided by Resources for Living EAP one of our leading program for the employee assistance. The program offers short-term counselling for all its employees on matters of stress, anxiety, emotional dilemma, grief and abuse of any kind. The able staff of TSP at work/life balance fully manage these services. RFL-EAP provides research and finding referral essential services in child care and development, school life, and identity of fraudulent acts and resolutions on legal and financial matters. The services are free for you and your entire household.
LIFE INSURANCE, ACCIDENTAL DEATH AND DISMEMBERMENT.
TSP provides basic life insurance and accidental death and dismemberment (AD&D) insurance cover administered by Minnesota Life to both full and part-time employees of our company. The following is a brief description of the life and AD&D insurance covers. Eligibility for this cover is automatic upon the first day of full employment to the company.
Basic Life Insurance.
The employee life and dependent insurance plan provide financial protection for the employee and designated beneficiaries in the event that the employees' death at the workplace. The coverage of the employee begins on the first day of full-time employment. Eligible employees are covered at zero cost for a term life insurance which is fully paid by TSP to the Minnesota Life. The basic life insurance equals the basic annualized earnings and a guaranteed issue of the amount to the full-time employees. Upon exit from the company, you may be able to convert the life insurance to individual life insurance.
Accidental death and dismemberment insurance.
The AD&D plans provide the employees with monetary benefits or their designated beneficiaries in case of bodily injuries or death resulting from accidental actions. Our company provides you with the guaranteed issue of the amount of AD&D insurance that equals twice your employee annual base salary.
TIME-OFF AND LEAVE OF ABSENCE.
Time- Off
TSP provides all its full-time employees with 15 days of vocational days per year on the basis of their service to the company.
Our company recognizes the countries national holidays and provides the employees with 11 scheduled holidays in their employment terms and two floating holidays.
Employees provide employees with one or more days of absence and time away from work due to personal and family illness, appointments and medical emergencies that need their physical presence – sick leave.
Leave of absence.
TSP offers a range of leaves to its full-time employees such as; family medical leave, jury leave, military leave, paternity leave, workers compensation leave, personal leave and adoption leave. Eligibility and compensation depend on the type of leave.
Retirement plan.
The TSP retirement benefit plan will encourage you to conveniently maximize saving for your retirement through pretax and after-tax payroll deductions and other contributions from the company. The eligibility of employees to this benefit is regardless if you are either part-time or full-time employee but requires the employee to be at least 21 years of age, has worked for the company for 90 days.
Whether or not you contribute to the benefit plan, TSP contributes 4% to the eligible employees account per pay time and provides an array of investment funds for the contribution.
