Employee Benefits (health insurance, retirement plans, life insurance, and disability insurance)

For employee benefits including health insurance, retirement plans, life insurance, and disability insurance, you can go two ways: financial advisor or small organization collective:

For a financial advisor in the DC area, talk to Mark Ulicny (tell him I said he would take good care of you): Mark Ulicny, mulicny@csfps.com, 301-571-1293

For a collective on nonprofit organazations, join the Center for Nonprofit Advancement and use their benefits packages:
http://www.nonprofitadvancement.org/

You should create a "Summary of Benefits" for the organization that details what the employee benefits are. This will make sure that you and any future hires recieve the same benefits (thus not violating any laws... which I don't know much about but understand that they exist). Depending on the type of organization, you may or may not want to provide disability benefits (interesting fact: many short term policies consider maternal leave to be a short term disability).

Since you might want a template, the one I created looks like this:

Please note: I am not an expert, but just surfed the web looking for nonprofit employee benefits and then merged them together to account for the small size of my organization. I encourage you to do the same.


Employee Benefits

Health Insurance/Dental Insurance/Prescription Plan:
UNDP-USA provides its employees with health insurance, prescription plan, and dental insurance.

Life Insurance Coverage:
Employees are eligible after 90 days of employment to term Life Insurance. The coverage amount is equal to the greater of $100,000 or the employee’s salary for one year. There is no cost to the employee; the entire premium is paid by UNDP-USA.

Short and Long Term Disability Insurance:
Employees are eligible after 90 days of employment for Short-Term Disability coverage through Illinois Mutual Life Insurance Company. Coverage provides 60% of the employee's salary (with a maximum of $1,500 per week) if the employee becomes disabled and unable to work for a period of more than 14 days. Benefits begin after 14 days of illness and pays until the employee can return to work or until the end of 6 months, whichever comes first. After six months the Long-Term Disability coverage begins. There is no cost to the employee; the entire premium is paid by UNDP-USA.

Employees are eligible after 90 days of employment for Long-Term Disability, with coverage through MetLife. Coverage provides 85% of the employee's salary (with a maximum of $5,000 per month) if the employee becomes disabled and unable to work for a period of more than 180 days. Coverage pays until the employee can return to work or until he/she reaches the age of 65, whichever comes first. There is no cost to the employee; the entire premium is paid by UNDP-USA.

Pension:
Employees are eligible after one year of employment to participate in UNDP-USA's 403(b) retirement plan via pre-tax deductions from the employee's gross wages. After one year, UNDP-USA will contribute 10% of the employee's salary into the employee's savings plan, with no requirement for matching and no vesting schedule.

Holidays:
Following the federal schedule (generally 10 per year: New Years, MLK Day, Presidents Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Thanksgiving, day after Thanksgiving, Christmas)

Vacation:
15 days per year for first 3 years, 20 days per year after 3 years of service

Sick Leave:
12 days per year

Transportation Allowance:
Employees are eligible from the first day of employment to a Transportation Allowance. This allowance provides $60 per month worth of MetroCheks.