City Financial Corporation (CFC) continues its commitment to provide employees with comprehensive and cost-effective benefit options. Employees who work 30 hours or more per week and satisfy the established waiting period are considered “Eligible Employees” and may participate in CFC’s benefit program. Benefits are part of an overall compensation package and CFC’s benefit plans are reviewed regularly to ensure we continue to meet our employees’ needs.
Medical, Dental & Vision Insurance
Eligible Employees, and their eligible dependents, can enroll in City’s group sponsored medical, dental and/or vision plans after the employee satisfies his/her 90 day benefit waiting period. Currently City utilizes Anthem, Delta and VSP for our group medical, dental and vision plans. The following tax-deferred accounts are also available to benefit eligible employees:
- Health Savings Account
- Flexible Spending Account
- Dependent Care Account
Life and Disability Insurance
City Financial Corporation provides Eligible Employees with the following 100% company-paid benefits:
- $20,000 Term-Life and AD&D Insurance
- Long-Term Disability Insurance
- Employee Assistance Program
- Travel Assistance Program
Eligible Employees have the opportunity to purchase several voluntary benefits for themselves and their dependents. Term-life, whole-life and accident insurance options are available for employee, spouse and dependent child(ren) and include guaranteed issue amounts of coverage. Short-term disability and long-term disability buy-up insurances are also available for the employee. All of these voluntary benefit options are paid for by the employee through the convenience of re-occurring payroll deductions.
For the purposes of 401(k) eligibility only, an “Eligible Employee” is an employee who works more than 1000 hours for the firm on an annual calendar year basis.
Eligible Employees will be able to participate in CFC’s 401(k) plan on the next plan entry date, after satisfying a 120 day waiting period. Plan entry dates occur on the 1st day of each new quarter. Employees may elect to defer a portion of their earnings on a pre-tax or after-tax (Roth) basis. Rollovers from previous plans can be accepted prior to satisfying the 120 day waiting period. City Financial Corporation will match up to $1,000 of an employee’s 401(k) payroll contributions per calendar year. Additionally, the firm provides profit sharing.
Paid Time Off (PTO)
Full-time employees are eligible for PTO according to the following service schedule:
- 0 – 4 years of service 15 days of PTO annually
- 5 – 11 years of service 20 days of PTO annually
- 12+ years of service 25 days of PTO annually
City Financial Corporation will provide regular full-time employees with holiday pay for the following nine (9) holidays when our offices are closed:
- New Year’s Day
- Martin Luther King Jr.
- President’s Day
- Good Friday
- Memorial Day
- Independence Day
- Labor Day
- Christmas Day
Full-time employees, who have worked for CFC for at least one year may be reimbursed up to $2,000 per year for post-secondary education that increases the skills of the employee and is beneficial to the firm.