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.

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Medical Plan


  • Self-insured plan
  • Claims administered by Aetna
  • 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
  • Prescription Drug Card (administered by Express Scripts)
    • $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
    • $1,600 Individual/$3,200 Family maximum annual out-of-pocket (includes deductible)

PPO Plan

In-Network Benefits

  • 100% of covered costs (no deductible) for covered preventive care (well child visits and immunizations; adult physicals and screening tests)
  • 80% of covered costs once the deductible is met
  • $1,750 maximum annual out-of-pocket expense per person (includes deductible)
  • $3,500 maximum annual out-of-pocket expense per family (includes deductible)

Out-of-Network Benefits

  • 100% well child exams and immunizations
  • 60% of covered costs (no deductible) for covered preventive care (adult physicals and screening tests)
  • 60% of covered costs once the deductible is met
  • $4,250 maximum annual out-of-pocket expense per person (includes deductible)
  • $8,500 maximum annual out-of-pocket expense per family (includes deductible)

The company pays 80% of the plan's cost for personal coverage and 50% of the plan's cost for dependent coverage.

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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

The company pays 80% of the plan's cost for personal coverage and 50% of the plan's cost for dependent coverage.

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

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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

Out-of-Network Benefits

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

The company pays 50% of the plan's cost for personal coverage and 25% of the plan's cost for dependent coverage.

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Flexible Spending Plan


Eligible employees can contribute up to $2,600 per year on a pre-tax basis for certain health, dental, and vision expenses not covered by a medical, dental, or vision plan. They also can contribute pre-tax dollars for child and adult dependent care. Contributions for medical, dental, vision, and life coverages (except additional life and dependent life) are also made on a pre-tax basis. FSA accounts are administered by Aetna (PayFlex).

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Life Insurance


Eligible employees have a life insurance amount equal to twice their annual salary subject to a 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. The company pays 85% of the cost for employee life insurance coverage. The employee pays the entire cost for the dependent life insurance coverage.

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Additional 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 the employee's personal coverage amount may be purchased for the 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 Additional Life coverage.

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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 $1.57 for each $1.00 of the first 5% of employee contributions over the last 46 years
  • Various self-directed investment options (16 funds plus Target Retirement Funds)
  • Daily valuation of accounts
  • Loan provision
  • Accept qualified rollovers

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Pension


  • Non-contributory, defined benefit
  • Fully funded with over $129,000,000 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.

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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

Intermediate Disability

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

Long-Term Disability

  • 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

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Vacation and Central Days


A new employee may earn some vacation during the first year depending on their employment date. 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.

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Flexible Work Options


Central provides options for employees to choose alternate arrangements to the traditional workday, workweek, and/or workplace.

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