All regular, full-time employees are eligible to participate in The Village Bank’s welfare benefit plans upon completion of 30 days of employment. And part-time employees regularly scheduled to work 20 hours or more per week are eligible to participate in welfare benefit plans upon completion of 30 days of employment, (there are some limitations for part-time employees.)
Currently, the Bank contributes 80% for individuals and 75% for families for full-time employees toward their health, dental or vision coverage. The employer contribution for part-time employees is pro-rated based upon the number of hours they are regularly scheduled to work.
Medical Plan: Tufts Advantage HMO A comprehensive health maintenance plan through Tufts Health Plan with a $1,000 deductible per person with a maximum of $2,000 deductible per family.
Dental Plan: Delta Dental of Massachusetts A preferred provider network of dentists that provide preventative services covered at 100% and other services with a $25 individual, $75 family deductible. The maximum annual benefit is $1,500 per calendar year.
Vision Plan: VSP A preferred provider network of eye care professionals; the plan allows an eye exam once every 12 months and a stipend and discounts toward eyewear once every 24 months.
Health Reimbursement Account (HRA): To assist employees with their out-of-pocket deductible medical expenses the Bank has established an employer-funded HRA. Individuals or families who exceed 25% of their medical deductible ($1,000, $2,000) in the plan year will automatically receive reimbursements for those deductible amounts in excess of the 25%.
Flexible Spending Accounts (FSA, DCA): Employees can defer a portion of their pay on a tax-exempt basis into an account to be used to reimburse out-of-pocket medical, dental, vision expenses from their FSA or to pay for child care or elder care expenses from their DCA.
Life Insurance: The Bank provides group term life insurance to each employee regularly scheduled to work 30 or more hours per week in an amount equal to 300% of their annual base salary up to a maximum of $250K. Long-Term Disability insurance is also provided by the same carrier.
Retirement Savings Plan (401k): Employees may begin contributing the first of the month following their date of hire with a 5% Bank match upon completion of one year of service (1,000 hours of service).
Pension Plan: In addition to the 401k plan, the Bank also provides a pension plan completely funded by employer contributions.
Fringe and Voluntary Benefits: Paid vacation, sick time, Honor Days and a Bank-funded Short Term Disability plan, as well as the opportunity to purchase voluntary benefits all add value to your overall benefits program.
The Village Bank is an Equal Opportunity Employer.
The Village Bank is committed to the policy of providing equal employment opportunities for employment, training, compensation, transfer, promotion, and other aspects of employment for all qualified applicants and employees without regard to sex, race, creed, color, religion, national origin, age, sexual orientation, gender identity or expression, veteran status, physical or mental disabilities, genetics or any other status protected by law.