Flexible Benefits Plan

Cost is shared by Team Member and ParenteBeard for the following benefits:

Medical\Prescription Coverage:

  • Blue Cross/Blue Shield BlueCare PPO (Enhanced or Base Plans Available).
  • Effective 1st of the month following official date of hire.
  • Employee contribution is 20% of the cost at any coverage level and qualifies for pre-tax savings under a Section 125-Cafeteria Plan.
  • ParenteBeard contributes 80% of the cost of the medical plan for all coverage levels.

Guardian DentalGuard PPO:

  • Effective 1st of the month following official date of hire.
  • Employee contribution is 50% of the cost of the coverage level selected (single or family) and qualifies for pre-tax savings under a Section 125-Cafeteria Plan.
  • ParenteBeard contributes the remaining 50%.

401(k) Retirement Plan:

  • The ParenteBeard LLC 401(k) Retirement Plan (the "Plan") is provided by Fidelity Investments.
  • Team members are eligible to make elective deferrals immediately upon employment.
  • You may contribute up to 50% of your compensation through payroll deduction.
  • Traditional and Roth options are available to allow contributions on a pre-tax or after-tax basis.
  • Eligibility for Firm contributions begins after one year of employment and 1,000 hours of service.
  • Once you meet the eligibility requirements, Firm contributions are made to your account each payroll period, at a rate of 3% of compensation.
  • Firm Contributions are 100% vested after two years of employment.
  • Automatic Increase Program - Team members can elect to increase deferral amounts automatically on an annual basis.

The following benefits are paid for by ParenteBeard:

PTO (Paid Time Off):

  • Effective 1st of the month following official date of hire.
  • First year exempt staff receive 20 PTO days.
  • Part-time (20–29 hours per week) and full-time (30+ hours per week) employees receive PTO days based on length of service.
  • Please contact Human Resources for more information.

Life/AD&D Insurance:

  • Effective 1st of the month following official date of hire.
  • Insurance amounts calculated at approximately 2 times

The Employee Assistance Program:

  • Confidential, professional consultation and referral services.

Long-Term Disability:

  • Effective 1st of the month following official date of hire.
  • 60% of monthly earnings.
  • $10,000 monthly maximum.
  • 90 day waiting period.

Short-Term Disability:

  • Effective 1st of the month following official date of hire.
  • 60% of weekly salary.
  • Maximum $1,200 per week.
  • Elimination period 7 days.

The following benefits are optional and are paid for entirely by the Team Member:

Short-Term Disability "GAP" Insurance:

  • Optional AFLAC protection plan. Provides a monthly benefit from $500 – $5,000, for up to 3 months depending on income level and coverage selection.

Personal Cancer Insurance:

  • Optional AFLAC protection plan. Plan designed to provide cash payment in the event you or a family member is stricken with cancer.

Specified Health Event Insurance:

  • Optional AFLAC protection plan. Plan provides a lump-sum benefit of $2,500 ($5,000 for dependent children) that will be paid for the first occurrence of a Specified Health Event. Additional benefits help you to control the out-of-pocket costs associated with a critical illness.

Personal Sickness Insurance:

  • Optional AFLAC protection plan. Plan designed to provide a cash payment directly to you to help defray the costs of specific services and/or procedures required to treat illness.

Additional Life Insurance:

  • Available for you, your spouse and your dependents.
  • $150,000 and $50,000 available to you and your spouse, respectively, regardless of your health.
  • Evidence of insurability is required for amounts exceeding $150,000 and $50,000 for you and your spouse, respectively.

Optional Vision Insurance:

  • Voluntary vision plan through Vision Service Plan (VSP).
  • Provides both eye exams and eyewear from one of the nation’s largest vision providers.

ParenteBeard Benefits Plan Year

ParenteBeard’s Plan Year is effective January 1 through December 31. Your benefit selections remain in effect for the Plan Year unless your circumstances change due to a life event, which is defined as marriage, divorce, death, birth or adoption of a child or loss/gain of a spouse’s medical coverage.

Questions about our benefits should be directed to our Human Resources Department.