Employee Benefits

Central provides employees with a generous package of benefits which allows employees to effectively cover various life events as well as help them build a sound personal financial future. The following describes the various benefit plans in the most general terms. Actual benefits are subject to the terms, conditions, and exclusions found in the plan documents and their Summary Plan Descriptions.

MAJOR MEDICAL PLAN

• Self-insured plan
• Immediate coverage for those eligible employees who enroll on their first day of employment
• $250 calendar year individual deductible
• $750 calendar year aggregate family deductible
• $5,000,000 per person lifetime maximum benefit
• Prescription Drug Card
  • $100 Individual/$300 Family Deductible
  • At Pharmacy -- 10% copay for generic drugs; 20% copay for formulary drugs; 30% copay for non-formulary drugs
  • Mail Order -- 5% copay for generic drugs; 15% copay for formulary drugs; 25% copay for non-formulary drugs
  • $1,500 Individual/$3,000 Family maximum annual out-of-pocket

PPO Plan (CCSI/Lutheran Preferred) for Van Wert, OH location

In-Network Benefits

• 80% of covered costs once the deductible is met
• $1,500 maximum annual out-of-pocket expense per person
• $3,000 maximum annual out-of-pocket expense per family

Out-of-Network Benefits

• 60% of covered costs once the deductible is met
• $4,000 maximum annual out-of-pocket expense per person
• $8,000 maximum annual out-of-pocket expense per family

PPO Plan (NHBC National Access Program) for Regional Locations

In-Network Benefits

• 80% of covered costs once the deductible is met
• $1,500 maximum annual out-of-pocket expense per person
• $3,000 maximum annual out-of-pocket expense per family

Out-of-Network Benefits

• 60% of covered costs once the deductible is met
• $4,000 maximum annual out-of-pocket expense per person
• $8,000 maximum annual out-of-pocket expense per family

The company pays 85% of the plan's cost for personal coverage and 55% of the plan's cost for dependent coverage.

DENTAL COVERAGE

Eligible employees can enroll on their first day of employment. The plan is self-insured and benefits for covered dental expenses are payable as follows:

• Preventive Services - 100% of Reasonable and Customary (R&C), no deductible *
• Basic Services - 80% of R&C after $50 deductible is met *
• Major Services - 50% of R&C after deductible is met *
• Orthodontic Services - 100% of R&C, up to $1,500 lifetime maximum, no deductible, only dependent children under 19 are eligible

* Calendar year benefit maximum for all services other than orthodontics is $1,500.

VISION COVERAGE

Coverage is provided through Vision Service Plan (VSP). Eligible employees can enroll for coverage to be effective on the first of the month following their employment date. Plan Benefits are allowed once each calendar year.

In-Network Benefits

• $10 Co-pay for Exam
• $25 Co-pay for Materials (Frames and Lenses)
  (These co-pays assume frames and lenses choices are within VSP's "Standard Plan" selections.)
  "Materials" benefit can be used for contact lenses rather than glasses.

• Same co-pays as in-network, up to maximum reimbursement dollar amounts.

FLEXIBLE SPENDING PLAN

Eligible employees can contribute up to $3,500 per year on a pre-tax basis for certain health and dental expenses not covered by a medical or dental plan. They also can contribute pre-tax dollars for child and adult dependent care. Contributions for medical, dental, and life coverages (except voluntary life) are also made on a pre-tax basis.

LIFE INSURANCE

Eligible employees have a life insurance amount equal to twice their annual salary subject to an upper limit maximum of $250,000 coverage. Employees can also elect $5,000 life insurance coverage for their spouse and $2,000 coverage for each dependent child.

VOLUNTARY LIFE INSURANCE

Eligible employees may elect amounts in $10,000 increments from a minimum of $20,000 to a maximum of $500,000, not to exceed 5 times basic annual earnings. Amounts in excess of $150,000 will require proof of good health. Up to 50% of your personal coverage amount may be purchased for your spouse. Amounts above $50,000 for a spouse will require proof of good health. Dependent children are eligible to be covered for $1,000, $5,000 or $10,000 each.

Employees pay the entire cost of the Voluntary Life coverage.

SAVINGS AND PROFIT PARTICIPATION PLAN

Eligible employees can join on the first day of their 2nd month.

• Immediate vesting
• 401(k) pre-tax contributions, Roth 401(k) contributions, and regular after-tax contributions
• Participants can contribute from 1% to 15% of gross base salary
• Company matches 20% on first 5% participant contributes
• Profit Participation involves a company contribution of 5% of net income
• Company match and profit contributions have averaged $1.74 for each $1.00 of the first 5% of employee contributions over the last 37 years
• Various self-directed investment options (15 funds)
• Daily valuation of accounts
• Loan provision
• Accept qualified rollovers

PENSION

• Non-contributory, defined benefit
• Fully funded with over $57,000,000 in assets
• Five year vesting
• Enrollment takes place each year on October 1. To participate, eligible employees must be 18 years of age and must have completed 60 days of employment.

DISABILITY INCOME PROGRAMS

SHORT TERM DISABILITY

• 100% of salary reimbursement to eligible employees for covered disabilities
• 1 day credited for every 2 months first calendar year
• 1 day credited for every month worked in second calendar year (maximum of 10)
• 12 days credited on January 1st of each year in third calendar year and thereafter
• Banking provision for unused days - 130 day maximum
• Company pays 100% of the plan's cost.

• Eligible employees enroll after 30 days
• 10 continuous working days waiting period for benefits
• 50% of salary benefit for up to 65 days (first 12 months of employment)
• 70% of salary benefit for up to 130 days (after 12 months of employment)
• Company pays 100% of the plan's cost.

• Eligible for coverage after one year of employment
• 60% of salary benefit after meeting 6 month waiting period
• Company pays 100% of the plan's cost.

VACATION AND CENTRAL DAYS

Employees receive 2 weeks of vacation after one year of service, 3 weeks starting the 5th calendar year, 4 weeks starting the 15th calendar year, and 5 weeks after 24 years of service. Employees also receive a unique benefit - Central Days - which provides employees up to three days a year for personal time off.