At NUCONSTEEL Commercial Corp., it is our goal to provide our employees with a comprehensive benefit program that strengthens the value of their NUCONSTEEL career.
The following benefits are available to employees and their eligible dependents, including children and spouses. These benefit programs help our employees stay healthy, meet their financial goals, protect their incomes and their families, and balance the demands of work and personal life.
All full-time employees are eligible for medical and dental coverage after 30 days of employment.
HEALTH AND WELLNESS
Medical and Dental Insurance
Nuconsteel provides a medical/dental/RX plan designed to provide comprehensive coverage and limit employee out-of-pocket expenses. All full-time employees and their eligible spouse and dependents are eligible for medical and dental coverage after 30 days of employment.
We also offer a health care spending account to pay for your necessary out-of-pocket expenses with pre-tax income which must be enrolled during open enrollment before January 1st for the following year.
PEACE OF MIND
Sick Pay
An employee who has completed at least 13 weeks of continuous employment with the Company is eligible for paid sick leave. This covers a % of your base weekly earnings for a limited time period to assist you in an extended illness or injury.
Long-Term Disability (Voluntary)
This long-term disability plan provides financial protection for you by paying a portion of your income while you have a long period of disability. This is a voluntary benefit which is entirely employee paid and has two separate options - one which covers 50% of your income up to $5,000 per month and one which covers 60% of your income up to $10,000 per month.
Life & Accident Insurance
You may choose basic, optional, extra optional or super optional for employee. The basic coverage is company paid and represents one (1) times the employee's annual gross earnings. The optional, extra optional, and super optional coverage is voluntary and employee paid.
Retirement Savings Plan/401(k) & Profit Sharing
Participation in the Plan is open to full-time employees who have attained age 21 and completed 30 days of service. This plan allows the employee to save a percentage of his/her earnings for retirement with pre-tax income. Nucor will add to the savings with a match based on the Company's profitability and matching limitations. A minimum of 1% and maximum of 50% of total gross wages may be contributed by the employee. Nucor will contribute on only the first 7% contributed by the employee.
Profit Sharing
The Company has also established a Profit Sharing Plan to give employees an active share in the profits of the Company. The contributions of the plan are paid by the Company. The employee must be with the company for 6 months to be eligible and once they receive a profit sharing deposit they are immediately 100% vested in the plan.
Employee Monthly Stock Investment Plan (EMSIP)
The employee may buy shares of common stock in the company on a payroll deduction plan. The employee must be with the company for 6 months to be eligible. For every $1 contributed by the employee, the company contributes $0.10.
LIFE BALANCE
Holidays
Employees receive eight paid holidays per year. Holiday schedules are determined by Nuconsteel and publishes the schedule annually and include New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day After Thanksgiving, Christmas Day. After 90 days of employment, each full-time employee is eligible for one (1) day of personal time each calendar year.
Paid Vacation
New employees hired on or before June 30th will be eligible for 40 hours of vacation after six-months of continuous employment. For those hired after June 30, they will be eligible for 80 hours of paid vacation in the following calendar year after six-months of continuous employment. Employees shall be eligible for 120 hours of paid vacation as of January 1st of the calendar year in which they reach 10 years of employment and 160 hours of paid vacation as of January 1st of the calendar year in which they reach 15 years of employment.
Dependent Care Flexible Spending Account
An individual Dependent Care Spending Account may be set up in your name allowing you to pay for certain dependent care expenses with tax-free dollars. (ex: day care)
FUTURE GROWTH AND DEVELOPMENT
Educational Assistance - Employee
Employees who choose to further their education may be eligible for tuition assistance if:
- The course directly applies to that employee's current job.
- The degree program prepares the employee for a job specifically found within our company.
Educational Assistance - Spouse
Nucor provides educational funds to spouses of employees up to a maximum of two (2) years. Approved courses should lead to a degree from a college, university, trade or vocational school and is limited to $1,375 per year.
Educational Assistance - Children of Employees
Nucor provides scholarships and funding for all children of employees taking approved education courses beyond high school with a limit of $3,000 per year for 4 years. All employees' children are eligible for application once the employee has completed a minimum of six months of service.
RECOGNITION
Service Awards
Our employees deserve to be recognized. Nucor awards all employees with a stock based service award every 5 years based on years of service. Eligible employees are awarded 5 shares of Nucor stock for each 5 years of continuous full-time service upon completion of each 5 years of continuous full-time service.
Adoption Assistance
Full time employees who have been employed for six (6) months or more are eligible. Reimbursement applies to the legal adoption of a newborn or minor child (under 18) through an adoption agency, orphanage, welfare department, or a private adoption attorney. Nucor will reimburse eligible employees for one-half of eligible adoptions expenses up to a maximum of $5,000.
INCENTIVE COMPENSATION PLAN
Other ROA Employees
The purpose of this plan is to provide additional compensation to employees not covered by other incentive plans or programs. This additional compensation shall be based on both Division and Corporate performance.
Production Bonus
Employees involved directly in manufacturing our walls, floor and roof systems are paid weekly bonuses on the basis of the productivity of their work team. The formula for determining the bonuses are non-discretionary based on established production goals. This plan creates motivation for each individual to perform well and also collectively as a team.