The following is a summary of the comprehensive benefit package offered to all salaried non-union employees in the United States. You are eligible to participate in FMC Technologies’ Flexible Benefits Plan on the first day of employment. Listed below are the available benefits from which employees may choose.
At FMC Technologies we understand the importance of health care for you and your family. We are proud to offer health care options that will meet your family’s needs. US-based employees of FMC Technologies may always choose from two medical plans. A third option (HMO) is offered at many sites. Included in all medical plans is a prescription plan offering both retail and mail order prescription coverage.
FMC Technologies offers two dental plans to meet your family’s needs. Where available, we offer a DMO.
Vision Service Plan or VSP offers high-quality eye care plans that meet overall eye health and wellness needs and offer discounts on advanced vision correction procedures including surgery. The plan includes an annual eye exam, and annual eye glass lens and frame replacement or contact lenses.
FMC Technologies offers a rich benefit package to meet your long term income needs by offering both a 401(k) savings plan and a pension plan.
401(k)
You may contribute between 2% and 5% of your income to the 401(k) and the company will match 100% of your contribution. The company match will be in the same funds that you select for your contributions. The company matching funds will be fully vested after 5 years of employment. You may elect to contribute between 5% and 75% of your earnings (up to IRS limits) to the 401(k) but these will not receive the company match. The FMC Technologies 401(k) is managed by Fidelity and offers a wide range of investment options to match your risk tolerance.
Pension
FMC Technologies offers a pension plan for all salaried non-union employees at no cost to the employee. Benefits are determined by employees’ years of service, age at retirement and final average yearly earnings. Some of the plan’s major features are:
- Monthly retirement incomes beginning as early as age 55 if you have at least five years of credited service.
- Multiple options of receiving your pension to meet the needs of you and your spouse.
FMC Technologies provides employee life insurance equal to your annual base pay. Supplemental life insurance is also available with additional costs paid by the employee. Cost is based on your age and annual salary. You can elect coverage up to a total of 7 x earnings.
Accidental Death & Dismemberment
FMC Technologies provides coverage under the Accidental Death and Dismemberment Program equal to your elected amount of employee life insurance.
AD&D coverage applies to accidental injury or accidental death caused directly and exclusively by external, violent and purely unplanned means and cannot be related to any other cause.
Spouse Life Insurance
Spouse life insurance may be purchased in coverage amounts of $10,000, $20,000, $50,000, $75,000 or $100,000. Premium costs for these coverages vary and are paid for by the employee. Details regarding these benefits and option choices are available through the local Human Resources Department.
Child Life Insurance
You may purchase life insurance for eligible dependent children. The cost is one low rate per month regardless of the number of children covered.
FMC Technologies offers short term disability at no cost to employees. This benefit can provide up to 100% income protection for 180 days.
Long Term Disability provides compensation replacement in the event you become disabled and unable to perform your job. Benefits are payable after 26 weeks of continuous disability, which is usually covered by short term disability. Two options are available that provide pay replacement for 50% or 60% of salary. These benefits are coordinated with Social Security and other sources of disability benefits to provide the replacement income option you elect.
Provides access to a network of attorneys for a variety of legal services (ex: preparation of wills, review of legal documents, buying or selling a home). 100% coverage is available for most covered services.
Hired between Jan 1-June 30:
- 1 week after completion of 6 months
- 2 weeks after completion of full year
Hired between July 1-Dec 31 :
- 1 week after completion of 6 months
- 1 week after completion of full year
Thereafter:
- Less than 5 years service: 2 weeks
- 5-9 years service: 3 weeks
- 10-19 years service: 4 weeks
- 20 or more years service: 5 weeks
Up to 10 days vacation may be carried over to the following year with your supervisor’s approval.
FMC Technologies offers educational assistance for employees who wish to continue their education. '
Reimbursement is provided at 85% for tuition, fees and books for work related courses.
As an incentive to complete a degree or program, the final 15% reimbursement is available upon graduation.
FMC Technologies recognizes that a wide range of personal or family problems can affect your health, well-being and job performance. The EAP provides confidential, voluntary, and professional assessment, short-term counseling and/or referral services. The initial assessment is free. If further assistance is required, a referral will be made to resources that may be covered under your medical benefit plan or that base their fee on your ability to pay.
Examples of issues include:
- Financial Planning
- Family Care Options – Referral source for Child Care and Elder Care
- Marital/Family/Relationship Problems
- Alcohol/Drug Dependence
- Depression
- Emotional Problems
- Stress
- Psychiatric Illnesses
- …or other personal problems which can adversely affect your job performance and disrupt your family life.
Adoption Assistance
The FMC Technologies Adoption Assistance Plan covers a portion of the expenses associated with adopting a child. FMC Technologies grants employees $5,000 for a single-child adoption and $10,000 for a sibling-group adoption. The benefit is payable once the child is placed in your home, even if the adoption is not yet final. This benefit is free of most taxes. The Plan does not reimburse fees paid to obtain the legal guardianship or custody of your (or your spouse's) own child, your (or your spouse's) grandchild, nor does the Plan reimburse costs associated with foster children.
Health Care/Dependent Care Reimbursement And Savings Account Plans
The Reimbursement and Savings Account Plans offer you the opportunity to set aside pre-tax dollars to pay for certain expenses that are not covered by FMC Technologies’ other benefit plans. After carefully estimating your health and/or dependent care expenses, you elect to have pre-tax dollars deducted from your pay and deposited in a Health Care Reimbursement or Savings Account, a Dependent Day Care Reimbursement Account, or both. This reduction in salary occurs before Federal and most state and local taxes are calculated and withheld, which lowers your taxable income and reduces the earnings shown on your W-2 form. Once deposited, you never pay taxes on this money, even after it is paid back to you in the form of a reimbursement for eligible expenses. The Health Savings Accounts are only available with the High Deductible Health Plan ($1,250 plan). More information is available upon request or from the Summary Plan Description located on the FMC Technologies HR homepage.
The FMC Extras Program offers discounts to employees on products and services through Beneplace. Beneplace is a company that provides one-stop shopping for employee discounts in areas such as:
- Insurance Programs
- Consumer Products
- Financial Products
- Consumer Services
To recognize and encourage community service, the FMC Technologies Dollars for Doers program matches volunteer hours to eligible not-for-profit organizations with a financial contribution from the FMC Technologies Foundation.
If you are a regular, full-time employee for more than six months, the Foundation will match up to $500 per employee per calendar year. Spouses of eligible employees may also take advantage of the program.
Award amounts are based on the following schedule of volunteer hours per calendar year:
- $100 for 25 hours of volunteer service
- $250 for 50 hours of volunteer service
- $500 for 100+ hours of volunteer service
The FMC Technologies Matching Gift Plan provides a 1-to-1 match of charitable contributions to eligible organizations made in cash or marketable securities, of $25 or more, to a maximum of $10,000 per employee per year. Together as partners, FMC Technologies and its employees are making a difference through their support to expand knowledge, increase understanding and enrich the artistic and cultural expression of the world in which we live. Eligible organizations would include:
- Higher Education
- Secondary Education
- Arts and Cultural Organizations
* This summary is written to help you understand the formal information contained in the legal Plan documents. Should this handbook disagree with the legal Plan documents, the legal Plan documents govern.
This summary and the information contained in it, is not a guarantee of continued employment or benefits Plan continuation. Nothing in this handbook or in any other communication, either written or oral, made at the time of hire or during the course of employment by any representative of FMC Technologies, shall create or is intended in any way to create a contract of employment, expressed or implied.