Compensation & Benefits
- Time Off
- Life & Accident Insurance
- Education Assistance
- 401(k) Plan
- Additional Benefits for Employees
Expect a competitive pay package that recognizes the experience, skills and abilities you bring to the company. Our goal is to provide pay and benefits that attract, motivate and retain the best talent.
We offer a multi-tiered compensation package to encourage employees to excel. Your compensation package includes:
- Competitive base pay
- An opportunity to earn annual bonuses
- Performance-based increases in pay
- Long-term incentive programs when eligible
Planned and unplanned time-off is an important factor for employees, no matter what the job. We provide a variety of time-off options.
- Four weeks of Personal Time accrual (vacation/sick leave/general paid time off), with increasing amounts of time off based on length of service
- Nine paid holidays, plus two floating holidays
- Short- and long-term disability plans with continuing pay in the event of disability
- A "leave share" program where employees can donate accumulated hours of leave to fellow employees in need
- Other leaves of absence covered by specific criteria for personal and family leaves of absence, jury duty and military duty
We offer employees, their dependents and qualified domestic partners a variety of medical, dental and vision plans. The company subsidizes much of the cost, but employee contributions are required for most plans. In most cases, employee contributions are made via payroll deductions on a pre-tax basis.
In addition the company offers:
- Alternative Health Care: All of our health plans cover acupuncture, chiropractic care, and naturopathic care.
- Employee Assistance Program (EAP): We contract with an independent firm to provide confidential counseling services to employees and their dependents. The EAP provides confidential assistance for personal concerns such as addictions, relationships and financial issues.
- Flexible Spending Accounts: Employees may set aside pre-tax dollars to pay for eligible, un-reimbursed health care expenses up to $5,000 each year, and up to $5,000 each year for dependent care.
- Fully paid Physical Examinations: Many of our medical plans provide for an annual physical examination for participating employees and their covered dependents.
We offer two different dental plans through Delta Dental with annual deductibles ($25 and $50). The plans cover semi-annual check ups and specified portions of fillings, extractions, root canals, crowns, inlays, onlays, dentures, oral surgery and Temporomandibular Joint (TMJ) treatment. Most treatments are subject to an annual maximum benefit. The $25 deductible plan also includes orthodontic coverage for children and adults, with a separate annual maximum of $1,000 per person.
We offer a vision benefit through Vision Service Plan (VSP). The plan covers annual eye exams and corrective lenses, within plan limits. Employees have the option to use a contracted VSP provider or a non-VSP provider that will result in lower reimbursement.
Life & Accident Insurance
We provide Basic Life Insurance coverage from Standard Life, with coverage from $50,000 to a maximum of $500,000, calculated on an employee's base annual earnings. An employee with a $100,000 salary, for example, would have $100,000 life insurance coverage. Employees also can supplement their basic coverage, or add spouse and dependent coverage as well.
We support talented individuals who are inquisitive and love to learn by offering financial assistance for career-related education. We pay 100 percent of tuition, books and fees, with an annual cap of $5,250.
Avangrid Renewables 401(k) Plan
The Avangrid Renewables 401(k) Plan allows employees to save money on a pre-tax basis through salary deferrals immediately upon hire, as well as after-tax Roth 401(k) contributions. Employees can contribute up to 75% of their eligible pay up to a maximum of $16,500 (in calendar year 2011). In addition, those employees age 50 or over can contribute an additional $5,500 in 2011.
As soon as you start making contributions, you are eligible for Company matching contributions. The Company matches 100% of your contributions to the plan, up to a maximum of 5% of your eligible pay.
Basic Company Contributions
All employees eligible for the 401(k) plan will receive Basic Company contributions, even if the employee has elected to not contribute to the plan. The Basic Company contribution is 5.5% of plan eligible compensation, plus 5.5% of plan compensation that exceeds each year’s Social Security Wage Base.
Matching and Basic Company contributions are invested in the same manner the employee has elected to invest their own contributions. Employees become vested in all Company contributions at 33 1/3% per year with full vesting after 3 years of service. Employee and rollover contributions are always 100% vested. The plan generally accepts rollovers from previous employers’ 401(k) plans and other eligible plans, and also provides hardship withdrawals, participant loans and a variety of investment options.
Additional Benefits for Employees
Along with a thriving company social scene, employees enjoy additional benefits* which may include paid parking, on-site dry cleaning, discounted membership at 24 Hour Fitness and Core Power Yoga, and discounted rates with AT&T, Verizon and Dell computers. (*benefits vary by location).