2013 FMC Benefits Highlights
FMC employees enjoy competitive compensation, a menu of health, retirement and work/life benefits and opportunities to develop professionally. The following overview is intended as a general description of benefits available to U.S. FMC employees.
Our competitive benefits program provides employees with protection against significant financial loss associated with health care, death and disability and assistance in meeting retirement income needs.
Eligibility and Participation
Full-time salaried or non-union hourly employees and part-time employees regularly scheduled to work 20 or more hours per week are eligible to participate. Coverage generally begins on the first day of employment, including eligible dependent coverage.
FMC employees have a choice of two medical coverage options: a Low Deductible Plan and a High Deductible Health Plan with a Health Savings Account (HSA) to which FMC also contributes.
All plans provide comprehensive care and cover the same services including hospital care, surgery, doctors’ visits, diagnostic tests and x-rays, mental health services and annual preventive care. The medical options differ by deductibles, co-insurance, out-of-pocket maximums and payroll deductions. The highest benefits are paid if network providers are used.
All medical options also offer prescription drug coverage. You can obtain your prescriptions through a national network of retail pharmacies or through Home Delivery (for up to a 90 day supply of maintenance type medications).
FMC employees have a choice of three dental coverage options. All the options cover the same services but differ in the amount reimbursed and the amount of payroll deduction.
Options include a High Deductible plan, a Low Deductible plan, and a DMO Option where available.
FMC offers vision coverage to employees and their dependents through VSP, national Vision Services Provider. The plan covers exams, frames and contacts every 12 months.
Savings & Investment Plan – The FMC Corporation Savings and Investment Plan is a 401(k) plan that lets you save a portion of your pay for retirement. You can save as little as 2 percent and as much as 50 percent of your pay on a pre-tax, Roth or after-tax basis. FMC provides a match of 80 percent on the first 2-5 percent of your contributions.
The plan offers a wide range of investment options covering a diversified mix of stock, bond and money market funds managed by Fidelity Investments.
FMC Defined Contribution Plan – This is a retirement plan for employees hired or rehired since July 1, 2007. FMC will contribute a percentage annually of eligible pay.
Flexible Spending Accounts
Health Care Spending Account – FMC employees can enroll in a Health Care Spending Account allowing you to pay for unreimbursed eligible health care expenses such as deductibles, co-payments, co-insurance payments and other expenses not covered by your or your spouse’s health care plan. You can contribute through payroll deductions on a pre-tax basis.
Dependent Day Care Account – FMC employees can enroll in a Dependent Care Account allowing you to pay for certain day care expenses for a child under the age of 13 or a dependent adult so that you or your spouse, if you are married, can work. You can contribute through payroll deductions on a pre-tax basis.
Life Insurance Coverage
Basic Life Insurance - FMC provides company-paid life and accidental death and dismemberment (AD&D) insurance.
Supplemental Life Insurance – FMC employees have the option of purchasing additional life and AD&D insurance coverage.
Dependent Life Insurance (Spouse and Dependent Child coverage) – FMC employees have the option to purchase life and AD&D coverage for a spouse and dependent children.
Business Travel Accident Insurance - The company-sponsored plan provides benefits if an employee accidentally dies or sustains certain serious injury while traveling on company business.
Short-Term Disability - Short-Term Disability coverage is provided by FMC at no cost to the employee. STD provides up to 26 weeks of full or partial pay when you are unable to work due to an illness or injury.
Long-Term Disability – FMC employees can purchase Long-Term disability coverage which provides a source of income if you are disabled and cannot work as a result of an illness or injury for more than 180 days. There are two coverage options available.
Vacation - The amount of vacation entitlement is based on years of service.
Holidays - FMC generally observes 11 paid holidays a year. The actual holidays observed may vary by location.
Transportation Assistance – Through this program employees can contribute on a pre-tax basis to help pay for mass transit commuting and parking expenses. Philadelphia and Washington employees only.
Educational Assistance Plan – Full-time employees are eligible for the Educational Assistance Plan, which reimburses 100 percent of the cost of tuition, registration fees, lab costs and textbooks for approved courses with a grade of “C” or better. A completed application form signed by the employee’s local HR Manager is required prior to enrolling in classes.
Employee Assistance Plan (EAP) - The FMC EAP offers assessment, short-term counseling and referrals to professional resources to help employees or eligible dependents overcome personal, lifestyle and work-related challenges.
Legal Services Plan – FMC employees can choose to enroll in the Legal Services Plan and have access to a law firm in your state to assist with legal services such as: telephone consultations, preparation and annual review of an employee’s will, contract or legal document reviews.
This overview contains a general description of the benefits available to regular, full-time FMC employees. The benefits described are subject to all the terms, conditions, limitations and exclusions in the plan document. In the event there appears to be a contradiction between the benefits described in this overview and those provided in the Plan Documents upon employment, the Plan Documents shall prevail. FMC may amend, modify or terminate any of these benefits at any time.