Benefits

1. Insurance

A. Health — Palmetto Electric provides health coverage through two PPO networks — Health Care Savings in South Carolina and Beechstreet in Georgia. Employee coverage is paid for entirely by the Cooperative. A small percentage of dependent coverage, if elected, is paid for by the employee. Medical insurance is effective upon completion of three months of service.

B. Dental — Dental insurance is effective upon the completion of three months of service. Employee coverage is paid for entirely by the Cooperative. Half of the premium for dependant coverage, if elected, is also paid by the Cooperative.

C. Life — Each employee is proved with 3x annual salary coverage.

D. Short Term Disability — Provided at no cost to the employee. The plan pays 66 2/3% of basic weekly salary (to a maximum of $800) for a maximum of 13 weeks.

E. Long Term Disability — Palmetto shares the cost equally with the employee. If totally disabled for more than 13 weeks, 50% of base salary (non-coordinated) is provided.

F. Long Term Care — Can be purchased to cover a wide range of personal care, health, and social services that can be provided to people of any age who suffer from a chronic disease or long lasting disability.

2. Retirement Program

A. Retirement & Security Program — Defined Benefit Plan fully funded by Palmetto Electric.

B. 401(k) — Defined Contribution Plan which provides employer match of 2% if 1% is contributed by the employee.

3. Personal Leave

All regular, full-time employees earn personal leave according to their years of service. Employees in their first year of employment earn a total of 88 hours. During years 2-5, 120 hours is accrued each year. From years 6-15, an additional 4 hours is accrued for each year of service, and from years 16-25 an additional 8 hours is accrued for each year of service.

4. Catastrophic Leave

Catastrophic leave is earned by all regular, full-time employees at the rate of one week (40 hours) per year. Catastrophic leave is generally only used to supplement disability insurance benefits, but up to 24 hours may be used for a death in an employeeUs immediate family.

5. Holidays

Palmetto Electric observes nine paid holidays each year, including New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, the day after Thanksgiving Day, and two days at Christmas, in addition to one personal holiday of the employeeUs choice.

6. Education

Educational benefits for approved courses begin 6 months after date of employment for approved job-related educational courses including undergraduate and graduate degree programs.