BENEFITS AVAILABLE THROUGH EMPLOYMENT WITH MCELROY MANUFACTURING

PAID VACATION
2 Weeks of vacation through 6 years, 3 weeks of vacation through 16 years, 4 weeks of vacation thereafter

PAID SICK/PERSONAL TIME
Paid time is made available for use when illness or personal circumstance requires time away from work

For the year 2011 there are up to 24 hours of paid sick/personal time available

PAID HOLIDAYS
9 paid holidays per year – New Years Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and the Friday after, Christmas Eve, Christmas Day

LIFE INSURANCE
$10,000.00 Company paid Life and AD&D policy

Employees can purchase additional coverage for themselves and their family through a group policy

DISABILITY INSURANCE
Available for employees to purchase; premium structured so that benefit is not taxable

SHORT TERM – Covers non-work related disability for a period of up to 26 weeks

LONG TERM – Covers disability beginning at 26 weeks, for a period of up to retirement age

MEDICAL, PRESCRIPTION & DENTAL INSURANCE
Premiums for medical, prescription and dental are bundled together into one.  Medical coverage is provided by United Health Care and Dental coverage is through Delta Dental.  The premiums are deducted on a pretax basis.  McElroy Manufacturing pays approximately 68% of the Health insurance premium cost monthly for both employee and FAMILY coverage.

UHC Vision
Available for employees to purchase Vision Insurance coverage. 

WELLNESS PROGRAM
McElroy Manufacturing offers a wellness program that includes onsite fitness center, walking, weight watchers, personal trainer, and static contraction offerings.  HEALTH SAVINGS ACCOUNT
To offset the high deductible health plan a Health Savings Account (HSA) is provided. Employees can contribute to the account on a pretax basis.  The employer may also contribute to the account.  In the past McElroy Manufacturing has contributed $500.00 to $1,000.00 annually to employees individual Health Savings Accounts.  The Employee’s Health Savings Account belongs solely to the employee.  The funds contributed to an account are not subject to federal income tax at the time of deposit.  Funds roll over and accumulate year to year if not spent.  HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty.

EMPLOYEE ASSISTANCE PROGRAM
Employees and members of their household have access to free counseling and assistance with a variety of personal issues including stress, financial concerns, substance abuse, relationship issues, grief, and more.

GAIN SHARING
All employees participate in the gain sharing plan.  Salaried employees participate from hire date.  Hourly employees participate after 6 months of employment.

Salaried employees have $1975 in base pay and the balance of monthly compensation is paid in “incentive units”.  Incentive Unit (IU) value is $ .90 per $100,000.00 of monthly shipments (goods only – excluding freight and taxes.)

Hourly employees elect their level of participation (minimum participation is 5%).  Hourly employees exchange a percentage of hourly earnings for a share in the Company’s monthly shipment dollars. Incentive Unit (IU) value is $ .90 per $100,000.00 of monthly shipments (goods only – excluding freight and taxes.)  Hourly employees make an annual election as to their level of participation in this program.

As the company’s shipment levels grow over time so grows employee earnings.

401(K) MATCH
Bank of Oklahoma administers the 401(k) retirement fund. The plan allows for McElroy to match 100% of employee contributions.  The percentage of match is discretionary and varies from year to year.  Since its inception, the average match has been more than 25% annually.

401(K) PROFIT SHARE SOURCE CONTRIBUTION
In addition to the matching contribution, the plan allows the Company to make a discretionary contribution equal to 3% of employees’ regular and overtime earnings. This plan has been in effect since 1978 and there has been a 3% match every year since that time.

PROFIT SHARING
McElroy shares its profits with employees in March.  McElroy has shared profit with its employees 48 times in the last 51 years.

RETENTION BONUS
For service in 2011 and beyond, McElroy will pay a retention bonus.   The Matrix below shows how employees are rewarded in this plan. 

CREDIT UNION
McElroy employees are eligible for membership in Tulsa Federal Credit Union.

DIRECT DEPOSIT
Payroll is electronically deposited into the bank or credit union account of the employees’ choice.

MID FIRST COMPANY CLUB
Mid First Bank offers all McElroy employees membership in the Company Club, including free checking.

F&M “ON THE HOUSE”
F&M Mortgage offers discounts on home mortgage and refinancing fees to McElroy employees.

EDUCATION REIMBURSEMENT
McElroy reimburses qualified Education Expenses up to $5250.00 per calendar year.

PREPAID LEGAL
Legal and/or Identity Theft coverage is offered by PrePaid Legal Services Inc.

BENEFITS LINKS

Benefits Connect
McElroy Benefits Portal

Bank of Oklahoma
Bank of Oklahoma administers the MMI 401(k) plan.

F & M Bank
Save money on your mortgage and get special benefits with the “on the house” program.

Start Right
Check 401(k) account balance, model a loan, change your investment elections.

Tulsa Federal Employees Credit Union
Open a checking or savings account. Either can be auto-deposited from payroll.

MidFirst Bank
Offers free checking to MMI employees.

Employee Assistance Program
The EAP is designed to assist employees and their dependents in the identification and resolution of personal problems or concerns that may have a negative impact on their personal or professional lives.

Delta Dental
Find an in-network dentist in your neighborhood.

United Healthcare
Information on your health insurance account, vision account,  claims and health savings account through myuhc.com. You will need to setup your account and/or login for access.

Pre-Paid Legal Services’ Inc.
Insurance for legal expenses.

Tulsa Technology Center
Check for classes offered within your knowledge family.

World Travel Service
Authorized McElroy travelers can make and purchase travel reservations for Air, Car and Hotel on the World Travel Service and http://www.RESX.com websites.