Benefits
As part of our commitment to our employees and their well-being, GREX provides employees with a variety of benefit plans: Health Insurance, Life Insurance, Supplemental Insurance, 401(k) Plan, Profit Sharing, vacation, and workers compensation.
HealthcareAll full-time employees and their dependents are eligible for benefits under GREX’s medical and dental insurance. Employees joining the company will be eligible to enroll in the plan on the first day of the month following their first ninety days of employment. The Company pays over 80% of the Medical Insurance premium for our Buy Up Plan and a 100% of the premium for our Base Medical Insurance and Dental Insurance. All premiums are pre-taxed which means more money in your paycheck but is subject to change according to government guidelines.
Life InsuranceGREX offers life insurance and accidental death and dismemberment benefits in the amount of $15,000 at no extra cost to the employee. This insurance will become effective for full time employees the first of the month following their first ninety days of employment.
Supplemental InsuranceGREX also makes available a supplement insurance program which is a voluntary participation program. This would include such coverage as disability insurance, accident insurance, hospital income, cancer coverage and additional life insurance. This plan is currently offered through Colonial Life & Accident Insurance Co. All fulltime employees and their dependents are eligible the first of the month following the employee’s first ninety days of employment.
401(k) PlanGREX has established a 401(k) plan offering a diversified portfolio. The employee’s 401(k) contributions are pre-taxed and the Company will match 25% of contribution made by the employee up to $11,000. GREX also sponsors a Roth 401 (k) plan. The Roth 401(k) is an after tax contribution with income taxes paid up front, but its earnings are tax free when distributed at retirement. All full-time employees are eligible the first of the month following their first ninety days of employment. The employer match is subject to review every year.
| Years of Service | Percentage | Years of Service | Percentage | | 1 | 0% | 4 | 60% | | 2 | 20% | 5 | 80% | | 3 | 40% | 6 or more | 100% |
Profit SharingGREX has established a profit sharing plan that provides incentive compensation to employees based on the profitability of the Company.
VacationGREX recognizes that our employees need to occasionally take time off to rest and relax, to enjoy a vacation or to attend to personal matters. That is why we offer a paid vacation benefit program. Full-time employees are eligible to participate in the paid vacation program after they have completed their first 90 days of employment. Per company policy all employees are granted two weeks of paid vacation prorated the first year.
HolidaysGREX observes the following holidays and provides two floating holidays as well for all full-time employees: - New Year’s Day
- Good Friday (half day)
- Memorial Day
- Independence Day
- Labor Day
- Thanksgiving Day
- Day after Thanksgiving Day
- Christmas Eve
- Christmas Day
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