SOUTHWEST FOUNDATION FOR BIOMEDICAL RESEARCH
Employment
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Summary of Employee Benefits

As of January 1, 2010

Health Plan

Healthcare coverage is provided through United Healthcare. Two plans are available: a Base Plan and a Buy-up Plan. Both plans allow the freedom to choose any physician, hospital or medical service provider or to utilize the network of service providers.

Texas - Choice Plus Plan 7EL Base Plan

  
Office Visit Co-pay (in Network) $25 co-pay per visit
Calendar Year Deductible (in Network) $1,000 (2x per family)
Co-Insurance Level
--In Network
--Out of Network
80% after deductible
60% after deductible
Out of Pocket Maximum (in Network) Excluding deductible
$2,000 (2x per family)
In Patient Hospital (in Network) 80% after deductible
ER Facility $100 co-pay per visit
Urgent Care $50 co-pay per visit
Retail Rx Co-Pays $10/$25/$45
Mail Order Rx 2.5 co-pays, 90 days

Texas - Choice Plus Plan 7EG Buy-Up Plan

  
Office Visit Co-pay (in Network) $20 co-pay per visit
Calendar Year Deductible (in Network) $250 (2x per family)
Co-Insurance Level
--In Network
--Out of Network
90% after deductible
70% after deductible
Out of Pocket Maximum (in Network) Excluding deductible
$2,000 (2x per family)
In Patient Hospital (in Network) 90% after deductible
ER Facility $100 co-pay per visit
Urgent Care $50 co-pay per visit
Retail Rx Co-Pays $10/$25/$45
Mail Order Rx 2.5 co-pays, 90 days

Vision Care Plan

Vision care coverage is provided through Avesis Vision Care. Employee and eligible dependents can receive an eye examination ($10 co-pay) and standard lenses ($25 co-pay) annually and frames at a discount every two years. Other services and out of network benefits are also available.

Dental Plan

Coverage is provided by MetLife. The plan allows the freedom to choose any dentist or to use a network dentist. In either case the plan benefits are the same. There is a $50 per person deductible (3 deductibles per family) for basic and major services and a $1,750 annual maximum benefit per person for all but orthodontia services, which have a separate $2,000 lifetime maximum benefit.

Orthodontia services cover children up to 19 years old at 50% with no deductible. Preventive services such as cleaning, x-rays, examinations, fluoride treatment for children, and emergencies are covered at 100% with no deductible.

Basic services such as lab tests, root canals, periodontics, fillings (other than gold or porcelain), extractions, and other oral surgery and anesthesia are covered at 80% after the deductible. Major services such as gold or porcelain fillings and crowns and installation of crowns and bridgework are covered at 50% after the deductible.

Life and Disability Plan

Coverage is provided by Met Life. Employer pays full cost. Plan provides:

  1. Life insurance on employee equal to twice annual salary (maximum $500,000).
  2. Accidental death and dismemberment insurance on employee equal to twice annual salary (maximum $500,000).
  3. Long-term disability income insurance on employee equal to 2/3 monthly salary beginning the 4th month of disability (maximum $13,000 monthly, until age 65).
  4. Additional optional life is available.

Supplemental Insurance Plans for Employee and Dependents

Optional with employee paying full premium.

  • Supplemental (AD&D) plan through INA.
  • Supplemental Longterm Care Plan.
  • Plans through Colonial Life:
    •  Cancer
    • Accident
    • Critical Illness
    • Term Life
    • Universal Life

Educational Assistance

Educational benefits for employees who desire to obtain a high school diploma or GED, a college degree, or vocational or skills training are provided through our education assistance program. 100% of the cost of tuition, fees, and books (up to $1000 for each full semester or trimester with a maximum of $3000 for a calendar year for full-time employees) for pre-approved courses is reimbursed upon satisfactory completion.

Credit Union

Employees of the Southwest Foundation, their dependents, and other family members may open accounts at the Southwest Research Center Federal Credit Union. It provides financial services including savings accounts, loans, checking accounts, PULSE automatic teller access nationwide, and MasterCard service at low interest rates and no annual fees.

RRA

As members of the staff at Southwest Foundation, employees and their dependents are eligible to participate in all activities of the Research Recreation Association. Activities include intramural sports, hobby clubs, fitness center, low-cost social functions, and community involvement.

Direct Deposit

Employees will be paid by direct deposit to their financial institution(s).

Time Off With Pay

Holidays

Our traditional nine holidays each year include:

  •  New Year's Day (1/1/2010)
  • Friday of Fiesta week (4/23/2010)
  • Memorial Day (5/31/2010)
  • Independence Day (7/5/2010)
  • Labor Day (9/6/2010)
  • Thanksgiving (11/25 and 11/26/2010)
  • Christmas Eve or day after Christmas (12/24/2010)
  • Christmas Day (12/27/2010)

Vacation

Prorated during first calendar year of employment and thereafter earned based on the following schedule:

  •  2 weeks per year during first 3 years
  • 3 weeks per year during 4-15 years
  • 4 weeks per year during 16 plus years

1/26 of annual vacation accrual will be earned each pay period.

Sick/Emergency Leave

Used to provide compensation when employee has non-job-related illness or injury or when a bona fide emergency occurs necessitating employee's absence from work:

  • 1 day earned each month
  • No maximum accumulation

1/26 of annual accrual will be earned each pay period.

Section 125 Plan

Employees can elect to pay their medical and dental premiums on a pretax, tax exempt basis. Employees may also elect to set aside additional money on a tax exempt basis to pay out of pocket medical, dental and vision expenses, and dependent care expenses. Maximum contribution of $150 per paycheck for healthcare and $5,000 per year for dependent care.

Retirement Plans

SOUTHWEST FOUNDATION FOR BIOMEDICAL RESEARCH AMENDED RETIREMENT PLAN AND TRUST

SFBR provides a defined contribution through a 403(b) plan.  The plan is available to all eligible employees immediately upon employment.

Southwest Foundation contributes an amount equal to 7% of the employee’s gross pay each payday. The Foundation’s contribution increases to 8% after 5 yearsof service, and 9% after 10 years.

Foundation contributions are used to purchase annuities from the Teachers Insurance and Annuity Association and/or College Retirement Equities Fund (TIAA-CREFF).

Foundation contributions and earnings will be 100% vested after 3 years of eligible service.

ANNUITY CONTRACT PURCHASE PLAN (Supplemental Retirement Annuity)

An optional plan through which voluntary contributions are used to purchase fully vested tax-deferred annuities. This plan is available to all eligible employees immediately upon employment. Plan contributions can be a fixed dollar amount or a percentage and are limited only by the amount of salary that can be tax-deferred under IRS regulations.  The maximum contribution amount in 2009 is $16,500 plus $5,500 for catch-up contributions for employees who will be 50 during the plan year.

Southwest Foundation makes no contributions to the Annuity Contract Purchase Plan.