FPB EMPLOYEE Benefits Summary
Note: benefits are subject to plan rules, provisions, exclusions and limitations. The plan document controls and any conflict between this summary and the FPB plan document shall be resolved in favor of the plan document. Benefits are subject to change. Revised 7/26/2011.
HEALTH PLAN:
Employees are eligible for coverage on their first day of employment; coverage ends on the last work day.
Employee Bi-weekly Contribution:
- $5.38 Employee only; FPB pays 98% of the premium cost
- $24.22 Parent Plus; [Employee + Child(ren]; FPB pays 94% of the premium cost
- $25.43 Couple; [Employee + Spouse]; FPB pays 94% of the premium cost
- $60.28 Family; (Employee + Spouse and Child(ren); FPB pays 91% of the premium cost
- MEDICAL COVERAGE (for employees and eligible dependents):
PPO plan with Bluegrass Family Health Single Source Network (reduced benefits for services outside network). In Network Benefits: Maximum out-of-pocket $500 Single or $1500 Family. Physician Office Visits, Immunizations and Physical Exams - $20 Co-Pay. $10 Co-Pay for Preventive/Wellness visits, Prescriptions - $5/$30/$60. Basic Benefits - 100% for usual, customary and reasonable (UCR) charges for Hospital Services; most other services paid at 80% or 90%.
- DENTAL COVERAGE (for employees and eligible dependents):
Deductible and Co-Insurance based on type of service.
- VISION COVERAGE (for employees and eligible dependents) :
No Deductible. Annual Eye Exam @ 80% - FRAMES @ 50% - LENSES or CONTACTS: @ 50%
DISABILITY COVERAGE (Short Term (STD) and Long Term (LTD)
(for employees only):
STD: MAXIMUM: $1,200 per Week, Eligible after 1 year of employment; 13 weeks, 60% of Salary, 30 day Waiting Period (Includes Maternity) MUST BE UNDER A DOCTOR'S CARE: Basic weekly earnings (excludes OT)
LTD: MAXIMUM: $6,000 per Month, Normal Retirement 180 Day Waiting Period - 60% of * Salary (Coordinates with Short Term Disability) MUST BE UNDER A DOCTOR'S CARE Salary: Basic weekly earnings (excludes OT)
LIFE COVERAGE (for employees only):
Coverage is 2 times Annual Salary (minimum - $50,000, maximum - $200,000); AD&D Coverage is 4 times Annual Salary; upon CERS Retirement coverage of $5,000.
FLEXIBLE SPENDING ACCOUNTS (FSA):
Health FSA - Allows employees to set aside payroll dollars on a pre-tax basis to pay for certain qualified expenses. Funds can be used for office visit copays, deductibles and other eligible expenses.
Dependent Care – Allows employees to fund their account through pre-tax payroll contributions that are reimbursed to the employee for eligible dependent care expenses, such as daycare.
RETIREMENT:
Regular Full-Time Employees are required to participate in the Kentucky Retirement System (CERS non-hazardous). Employees participating prior to September 1st, 2008 contribute 5% of gross wages through payroll deduction; employees participating September 1st, 2008 and after contribute 6%. FPB contributes a percentage of gross wages as determined by the State Legislature.
CERS is a defined benefit plan and benefits are based on formulas that use years of service, compensation and a benefit factor to determine retiree benefits. Service date is also a factor in determining the benefits retirees receive. Additional information is available at kyret.com or by contacting Kentucky Retirement Systems at 1260 Louisville Road, Perimeter Park West, Frankfort, KY 40601.
DEFERRED COMPENSATION:
Regular, Full-Time Employees have the option to participate in 401K and 457 Plans offered by the Kentucky Public Employees Deferred Compensation Authority. Employees may choose to payroll deduct their Pre-Tax contributions. Accounts are fully funded by the employee; FPB does not match or contribute to these plans. All transactions (applications, elections, changes, etc.) must be processed by the Kentucky Public Employees Deferred Compensation Authority, 2501 Georgetown Road, Suite 1, Frankfort KY 40601-8862. The FPB representative is Debra E. Davidson; phone 800-793-4401, option 4, ext. 1172006; e-mail debra.davidson@us.ing.com
HOLIDAYS:
FPB observes 10.5 Holidays per year.
SICK LEAVE:
Employees accrue one sick day per month with no maximum accumulation, effective upon employment. Upon retirement from FPB, unused sick leave may be exchanged for service credit time within the provisions of the retirement system.
VACATION LEAVE:
(Not eligible to take Vacation Leave until after successful completion of 6-month introductory period).
Employees accrue:
- 1 to 2 years 10 days
- 2 to 8 years 12 days
- 8 to 15 years 15 days
- 15 to 20 years 18 days
- 20 years and over 21 days