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All full-time employees of a Koch company are eligible to participate in Koch Benefits beginning on the first day of the month following their date of employment.
Note: The information provided below is an overview of current benefits only. All benefits are provided in accordance with the provisions of the benefit plan documents.
U.S. Benefits
- 401(k) Savings (100% company match up to 6% employee contribution after 1 year)
- Pension
- Medical
- Dental
- Reimbursement Accounts (Flexible Spending Accounts)
- Employee Life Insurance
- Accidental Death & Dismemberment Insurance
- Dependent Life Insurance
- Business Travel Accident Insurance
- Short Term Disability
- Long Term Disability
- Educational Assistance
- Paid Holidays
- Paid Sick Leave
- Paid Vacation
U.K. Benefits
25 Days Holiday
Season Ticket Loan
Incentive-Compensation (Performance Related Bonus)
Koch Supply & Trading Company Ltd. offers a Defined Contribution scheme whereby the employee contributes 5% of gross pay on a pre-tax basis and the employer contributes an amount equal to 10% of gross pay into the scheme on the employee’s behalf. Contributions are restricted to the UK earnings cap, which is currently set at £97,200 (April 2002). The employee has a choice of investment fund options as offered at the time according to the discretion of the Trustees. Please refer to separate pensions brochure for comprehensive details of the scheme.
Membership commences on the first month following submission of the application form to HR.
This Plan provides employees with life insurance coverage in the form of a lump sum payment (under trust) in the event of death in the company’s service prior to retirement age. Coverage is equivalent to four times annual salary, restricted to the current UK earnings cap of £97,200 (from April 2002).
Life insurance cover starts immediately upon employment with the company. It is non-contributory with the company meeting the cost.
Long Term Disability Insurance Plan
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This Plan may provide benefits in the case of disabling illness or injury rendering an employee unfit to carry out their regular occupation. Subject to satisfactory medical evidence being produced, and the claim accepted by the insurance company, an employee will be paid at a level equal to 60% of their salary until such time as they are able to return to work or reach retirement age.
Long Term Disability Insurance cover starts immediately upon employment with the company, subject to certain medical qualifications being met. Cover is non-contributory and the company bears all costs.
Private Health Insurance
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Private health insurance is offered to both the employee and their immediate family. The current Plan is insured with Private Patients Plan (PPP). Membership is optional and employees are eligible to join on the first day of the month following date of commencement of employment with the company. Coverage is provided at no cost to the employee. Further information can be obtained from the information package provided to all new employees.
Membership commences on the first month following submission of the application form to HR.
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