Employment Benefits

PTFS offers a comprehensive and industry-competitive array of benefits to meet the different needs of our diverse workforce. Additionally, the firm offers a generous 401(k) plan with an attractive match, and with its training and education reimbursement program, fosters a culture of learning to enhance the professional development of its employees. Our recognition and rewards are aggressive and are geared towards affirming the achievements and performance of outstanding employees.

When you join PTFS, you will access flexible health benefits to meet your needs, experience professional satisfaction through challenging work as a member of a high energy and committed team, and the recognition and rewards for your contributions!

PTFS' benefit package includes:

Basic Life/AD&D
This employer-paid benefit provides 1x annual earnings (up to a maximum benefit of $200,000) of term life insurance. Coverage is effective on the first day of the month following hire date.

Short Term Disability
This mandatory benefit provides 60% of weekly income (up to a maximum weekly benefit of $1,500) following a 7 day waiting period. Coverage begins on the first day of the month following hire date. Benefit cost is determined by salary, PTFS contributes 50% of the premium.

Long Term Disability
This mandatory benefit provides 60% of monthly income (up to a maximum monthly benefit of $6,000) in the event of a qualifying disability, and coverage begins on the first day of the month following hire date. Benefit cost is determined by salary, and PTFS pays 50% of the premium.

Voluntary Life Insurance
This optional benefit allows employees to purchase additional life insurance on themselves and family members. Employees may elect an amount in $10,000 increments to the lesser of 5x salary or $500,000. Spousal coverage is available in $5,000 increments to the lesser of 50% of the employees benefit or $250,000 and Child(ren) coverage is available in the amount of $5,000. Coverage is available the first day of the month following hire date.

Medical Insurance
Employees may choose from HMO, POS or PPO plans. The traditional HMO plan utilizes the HMO Network of participating providers and requires the selection of a Primary Care Physician (PCP) and referrals for all non-emergency, nonurgent and non-PCP services. The POS and PPO plans do not require the selection of a PCP and referrals are not needed. The POS plan utilizes the HMO network and the PPO Plan utilizes the PPO network of participating providers. All plans include prescription drug coverage as follows: $10/Generic, $20/Preferred Brand Name and $35 Non-Preferred Brand Name. Coverage is available the first day of the month following hire date.

Dental Insurance
Benefits are subject to a calendar year deductible of $50 per person. Preventive care will be covered at 100% (the deductible is waived for these services). When using participating network providers, Basic Services are covered 90% and Major Services are covered 60%. When using non-network providers, Basic Services are covered at 80% and Major Services are covered 50%. The annual maximum benefit is $1,500 per individual.

Legal Shield and Identity Theft Shield
New this year is the opportunity for employees to enroll in the LegalShield and Identity Theft Shield plans. LegalShield provides top attorneys in your area to help with legal advice, contract/document review, letters and calls on your behalf, traffic related issues as well as 24/7 emergency assistance. Enrollment includes a free will with annual updates. Identity Theft protection is also available and includes credit reports, credit scores and analysis as well as Identity Restoration Services. Coverage is available throughout the plan year. This benefit is available at the expense of the employee.

Flexible Spending Account
Employees may participate in our Flexible Spending Account (FSA) in which they can set aside "pre-tax" dollars for unreimbursed medical expenses, dependent care costs, parking and transit expenses. This IRS approved plan allows employees to significantly lower their taxable salary base (up to $2000/yr for medical care, $5,000/yr for dependent care, $230/month for parking and $230/month for transit expenses) and thereby lower their federal and state tax liabilities. Employees should be conservative in the amounts they contribute to their medical expense and dependent care expense accounts since any funds remaining in the account at the end of the plan year cannot be returned. Coverage is available the first day of the month following hire date.

401(k) Retirement Plan
All employees are eligible to participate in the plan on the first day of the month following hire date. Effective September 1, 2008, all employees will be required to join the plan with an automatic deferral of 2%. PTFS makes a discretionary annual match which enables your savings to grow. Typically PTFS matches employee contributions at a rate of $.50 of every dollar up to a maximum employee contribution of 6% of salary.

Employee Assistance Program
PTFS will provide confidential and voluntary assistance to all eligible employees and their dependents who may be faced with financial concerns, legal issues, alcohol or drug problems, marital problems, illness of a family member, emotional worries, child care problems, etc. This Employee Assistance Program, (EAP) is provided at no cost to the employee.

Paid Time Off (PTO)
PTFS offers a general bank of paid time off rather than designated leave as vacation, sick or personal. Paid time off accrues beginning with the employee’s first pay period. The accrual rate is 5 hours per pay period (15 days per year) from hire through the first year. Employees earn an additional day each year through the fourth year. At the fourth year, they earn 20 days. Employees earn an additional day each year from the fourth through the 9 year, at which time PTO is capped at 25 days. Paid time off may be accrued and "rolled over" from one year to the next. Maximum accruals depend on years of service. Please see the Employee Handbook for an exact schedule of accrual rates and roll over limits.

Holidays
PTFS provides ten paid Federal government holidays (see Employee Handbook for list).

Education and Training
PTFS provides a maximum of $2,000 per year tuition reimbursement for approved courses and also pays for attendance at approved job-related seminars and workshops.

529 Plans
PTFS employees may establish tax deferred 529 Plans to help save for college tuition and expenses. PTFS pays the account set up fee. Employees save after tax money that grows tax deferred. If employee is a resident of Virginia, contributions may be eligible for state tax income tax deduction as well.

Credit Union Membership
PTFS employees may join Signal Financial Federal Credit Union and take advantage of the benefits of credit union membership (typically lower fees than banks, lower loan and credit card rates, higher savings interest rates, vehicle buying service, and free on-line bill paying).

Coverage is available the first day of the month following hire date. This is a summary of certain features of your Employee Benefits Plan prepared by Blue Kamen Benefits and PTFS. It is a partial, general description of benefits and is not meant as a contract or any part of one. For a complete description of benefits available to you, including procedures, exclusions, and limitations, please refer to the official plan documents. In the event of any difference between this summary and the official plan documents, the plan documents prevail.