Modern Engineering cares about the health and well being of our employees and
their families. We are proud to offer a set of comprehensive, high-quality
employee benefits. Here is an overview of some of those benefits:
Medical
For eligible Michigan employees, Modern Engineering offers a choice of
several types of Preferred Provider Organization (PPO) plans or a Health
Maintenance Organization (HMO), so you can tailor your medical insurance with
the your needs and those of your eligible dependents. Both plans provide
extensive provider networks in Michigan. Also, some of the PPO choices allow
out-of-network coverage. For eligible employees outside Michigan, Modern
Engineering offers the same Preferred Provider Organization (PPO) plans as are
offered to Michigan employees, although the actual provider network is
different to allow better access for each locality. Prescription drugs are
covered under all above plans, except the lowest level PPO choice.
Dental
Modern Engineering offers eligible employees a choice of three levels
of dental plans for employees and their eligible dependents. Although the
flexibility of out-of-network coverage is designed in this choice, it also
provides you the ability to optimize your dental expenses by using in-network
providers.
Vision
Modern Engineering offers a vision plan to eligible employees and
their eligible dependents that provides covered expenses for exams, lenses,
frames and contact lenses. Significant discounts and higher level of benefits
are realized by using network providers.
Flexible Spending Accounts
Modern Engineering provides eligible employees the opportunity to
establish pre-tax spending accounts for either a Health Care Reimbursement
Account (HCRA) for expenses (not covered by health insurance) up to $3,500 /
year or Dependent Care Reimbursement Account (DCRA) for expenses (e.g. child
day care to enable you to work) up to $5,000 / year. These accounts are
governed by federal regulations, including the "annual use it or lose it rule",
but can save significant tax dollars if planned properly.
Life Insurance
Modern Engineering provides $50,000 basic Life insurance to eligible
employees. Furthermore, employees can purchase additional amounts of Life
insurance for themselves and / or their eligible dependents if they so desire.
Accidental Death & Dismemberment Insurance
In addition to basic Life insurance, Modern Engineering provides
$50,000 AD&D insurance to eligible employees. Furthermore, employees can
purchase additional amounts of AD&D insurance for themselves and / or their
eligible dependents if they so desire. This insurance provides protection in
addition to Life insurance (above) in the event of an accidental death or loss
of limb.
Short Term Disability
Modern Engineering provides eligible employees with basic STD
insurance. If an eligible employee is disabled from work for more than 7
calendar days, they may be eligible for pay replacement benefits of 60% of base
pay up to a maximum $ amount for a maximum period of 12 weeks. Employees are
also offered the choice to "buy-up" to higher levels of STD benefit.
Long Term Disability
Modern Engineering provides eligible employees with basic LTD
insurance. If an eligible employee is disabled from work for more than 90 days,
they may be eligible for pay replacement benefits of 50% of base pay up to a
maximum $ amount for the duration of their disability (benefits may be reduced
at age 62). Employees are also offered the choice to "buy-up" to a higher level
of LTD insurance.
401(k) Plan
Modern Engineering provides eligible employees the opportunity to save
up to 50% of their pre-tax pay (up to the annual maximum allowed by regulation)
towards retirement in a 401(k) plan that provides more than 20 investment
choices with Fidelity Investments (the largest provider of 401(k) plans).
Furthermore, the company may provide a matching contribution each year. The VME
401(k) Plan contains provisions that accept rollovers into the Plan of pre-tax
and post-tax monies from another qualified plan. There are also loan provisions
that allow you to borrow from your own account.
Paid Vacation
Paid Holidays
Modern Engineering, Inc. is seeking employees who are interested in a long-term
commitment. Our employee benefit package is indicative of the commitment our
company wants to make to you and your family.
