S&C Electric Company

Careers

Company Benefits

Total compensation for S&C employees includes a generous benefits package. All eligible employees participate in the same benefit plans, with no need to choose among plans. Except for the S&C Health and Wellness Plan, company benefit plans require no “monthly premiums” from employees.

The newest addition to the S&C benefits package — the S&C 401(k) Retirement Savings and Employee Stock Ownership Plan (KSOP) — became effective October 1, 2007. Along with providing continuing retirement benefits for S&Cers, the plan has put S&C on a path to employee ownership.

Here is a brief rundown of S&C’s benefits for full-time employees:

  • Health and Wellness Plan. Comprehensive health care coverage has been an important benefit for S&C employees since 1947. Today’s plan features unlimited choices of health care providers, no waiting period, and no “pre-existing condition’ exclusions. The plan is self-funded and administered by Blue Cross and Blue Shield of Illinois. In-network and out-of-network payment levels are 90% and 70%, respectively. The S&C Health and Wellness Plan includes a $300 annual wellness benefit that provides first-dollar coverage for an array of wellness- and prevention-related medical services. (Note: Separate plans are offered at S&C’s Alameda, CA and Duvall, WA locations.)
  • Dental Assistance Plan. S&C pioneered the direct-reimbursement dental plan, with an unlimited choice of providers and prompt reimbursement. A managed-care option is also available. Dental plan coverage requires no waiting period. (Note: Separate plans are offered at S&C’s Alameda, CA and Duvall, WA locations.)
  • Short-Term Disability Pay. This plan provides income protection if an employee is disabled and unable to work for a period of up to six months.
  • Long-Term Disability Insurance Plan. This income-protection program was introduced in the 1960s. Benefits are 60% up to 75% of pay rate when all income sources are combined. If no pre-existing condition is involved, the plan features no waiting period.
  • Life Insurance Plan. All eligible S&C employees not yet age 65 have company-provided coverage equal to 2-1/2 times the employee’s annual pay rate.
  • 401(k) Retirement Savings and Employee Stock Ownership Plan (KSOP). The KSOP helps participants build retirement savings in two ways. Through the plan’s 401(k) Funds, participants direct the investment of their pre-tax contributions-up to 50% of pay, subject to IRS dollar limits-in a variety of funds available from The Vanguard Group. S&C matches 50% of these contributions up to 6% of pay with contributions to the Employee Stock Ownership Plan, and the company makes other significant contributions to the plan on participants’ behalf as well. Eligibility for KSOP participation takes place after one full calendar quarter of employment in which the employee works 250 hours.
  • Holiday Shutdown. Because family time at the holidays is so important, each year, S&C employees enjoy 9 to 12 days of continuous time off with pay to spend with their families during the Christmas/New Year’s holiday period.
  • Paid vacation of 2 to 4 weeks, in addition to paid Holiday Shutdown.
  • 10 paid holidays per year. Two of these are “S&C Days,” used either during the Holiday Shutdown period or attached to other holidays during the year to give employees longer holiday weekends.
  • Seniority Recognition Program. Experience is rewarded at S&C with cash and/or gifts starting with an employee’s third anniversary of employment.
  • Educational Reimbursement Program. Continuous improvement is important to all S&C employees. In addition to S&C’s extensive on-premises training programs, the company helps provide educational opportunities through tuition reimbursement for approved undergraduate and graduate courses.
  • Personal Money Management Advisory Service. This unique S&C benefit provides opportunities for all employees to learn about basic financial planning and management through company-provided seminars and personal counseling.
  • Employee Assistance Program. S&C cares about its employees and their family members, and when personal problems affect their well-being, help is available through this confidential program. Four free counseling sessions are offered.
  • Child Care Referral Service. To save employees’ time, S&C has contracted with the Action for Children organization to provide employees with free information and research on child care options, parenting issues, etc.
  • Pre-Tax Transit Benefit. This program enables employees to use pre-tax dollars to pay for selected commuter-related costs such as train and bus passes.

And more . . .

Two subsidized full-service cafeterias (Chicago); company store; discounted movie and event tickets; company-wide family outings; employee golf league; basketball league; bowling league, etc.; discounted memberships to local YMCA health and recreation center.